The Ripple price analysis is showing signs of bullish activity, as the bulls have returned to the price charts. The price went down during the few hours of the session as it dropped from $0.5256 to $0.5035, but then the buyers came back with their bullish momentum and pushed the price back up toward $0.5223. A further price increase can be expected as the hourly prediction is in the bullish direction as well.
Ripple price analysis 1-day price chart: XRP reverts back to $0.5223 level after a bullish recovery
The one-day Ripple price analysis is confirming an increase in the coin value after the bullish return. The bulls have made a successful attempt at making a comeback, as the price has increased up to $0.5223 today. Although the past week hindered bullish price movement, the situation has improved today.
The moving average (MA) value is present at $66.46, still quite lower as compared to the current price. The Bollinger bands on the chart are also indicating bullishness as the lower band is seen at $ 0.3187 and the upper band is seen at $0.5723. The hourly RSI (relative strength index) value has come down to 66.46, which suggests that the price may continue to increase as the trend is in favor of the bulls.
Ripple price analysis: XRP sails past $0.5223 after a bullish rally
The Ripple price analysis is indicating that the market has reverted back to a bullish state as the buyers have come into action and pushed the coin value up. The coin is currently trading above $0.5223 and if this momentum continues, then it can easily break the resistance of $0.5256, however, if bears take over then the support level at $0.5035 will be tested.
The technical indicators chart for XRP/USD is giving out a bullish hint today as the price has increased significantly. The moving averages indicator is giving a strong bullish signal as well because of the constant upward trend, Currently, the Moving average (MA) value is present at $0.5152, signaling a strong upward trend in the near future.
The hourly RSI (relative strength index) has also gone up to 55.42, which suggests that a further price increase can be expected as bulls are dominating the market today. The volatility of the XRP coin has also increased significantly and it is expected to remain high in the coming days. The Bollinger Bands on the chart are also indicating bullishness as the lower band is seen at $0.5028 and the upper band is seen at $0.5456.
Ripple price analysis conclusion
Ripple price analysis concludes that the coin is showing signs of a bullish recovery as the price has increased significantly in the past few hours. The technical indicators are also giving out bullish signals, which suggests that XRP might break resistance at $0.5256 and reach higher levels soon. Currently, the buyers are dominating the market and the price may likely continue to increase as long as they maintain their momentum. However, if the bears come back into action then the support at $0.5035 might be tested.
