Ripple price analysis shows that the price is covering upward movement once again as the bulls have been at the lead today as well. The past day had been highly favorable for the bulls as the price advanced at a rapid speed. Today, the trends have been no different as the price has increased up to the $0.3898 level. Further improvement in XRP market value can be expected as the hourly price chart is predicting an uptrend as well.
The price opened today, trading at $0.3923, but the bull run was short-lived as the price corrected higher to reach the current level. The 24-hour volume traded is $1,041,877,924 and the total market cap of Ripple is now $19,620,237,298.
Ripple price analysis 1-day price chart: Bulls continue to push prices higher as the coin hits $0.3998
The 1-day Ripple price analysis shows that the market has been in a strong uptrend since early today as it climbed to the current high at $0.3898. Ripple prices have been stuck in a tight range between $0.3808 and $0.3961 for the past few days as bulls and bears battle for control of the market. Further recovery is possible in the coming days if the bullish momentum extends.
The 50 -day moving average is currently flat, and the 200-day moving average is still rising, which indicates that the long-term trend is still bullish. The RSI is currently below 47.20, which indicates that the market has some room to move higher before becoming overbought. The MACD line is currently above the signal line, which indicates that the market is in a strong uptrend.
Ripple price analysis on a 4-hour price Chart: XRP/USD trades above $0.3800 level
On the 4-hour chart, Ripple price analysis, we can see that the market has formed an ascending parallel channel and is currently trading at the upper boundary of the channel. Prices have recently broken out of a symmetrical triangle pattern which is a bullish sign. The market is expected to retrace back to the $0.3961 level before resuming its upward move. The bears will be looking to take control of the market if prices break below the $0.3808 level.
The RSI on 4-hour is currently at 49.19, which is in the overbought region and indicates that the market might be due for a correction. The MACD line indicator is currently above the signal line, indicating that the market is in a strong uptrend but is losing momentum. The 50-Moving average and 200-moving averages are both still rising, which indicates that the long-term trend is still bullish. The 50 MA is currently at $0,3898, while the 200 MA is at $0.3885.
Ripple price analysis conclusion
To conclude, the Ripple price analysis shows that the market is in a bullish trend as the price is expected to surge higher in the coming days. The market will find it difficult to sustain these levels. However, the overall market sentiment is bullish. The technical indicators are in favor of the bulls, which indicates that further upside is possible in the short term.
