Today’s Ripple price analysis shows Ripple (XRP) price rising again as bullish momentum builds, rallying to $0.4042. XRP/USD resistance is at $0.4215, while ripple coin has support at $0.3774. The bullish move has resulted in an impressive rise in price as it has surged from $0.3700 to $0.4042 in the last 24 hours.
XRP/USD is trading in the green on the intraday chart and appears to be heading higher in the near term. The coin has gained more than 3.76% in the last 24 hours and is currently trading at $0.4042. The coin’s market cap also increased to $20 billion, with a reported 24-hour trading volume of $3.98 billion.
Ripple price action on 1-day price chart: XRP/USD trades above $0.4042
Price ripple analysis on the 1-day price chart shows that the XRP/USD pair is trading with a positive bias. The pair has been making higher lows and higher highs which is a bullish sign, the price action recently breaking above the ascending triangle pattern that has developed in the last 24 hours which is a bullish sign. The moving average indicator is currently at the $0.4000 level and moving up, which is also a bullish sign for the XRP price.
Volatility is low as Bollinger Bands continue to follow the same movement and the price doesn’t seem to break the range it has been following for the past month. The upper limit of Bollinger Bands is at $0.4215, which is resistance, and the lower limit is at $0.3774, which is support; the average Bollinger Bands is $0.40. The Relative Strength Index (RSI) is trading at the top of the neutral territory at 54.20, with an upward bias indicating buying activity in the market.
XRP/USD 4-hour price action: Latest developments and additional technical indications
Ripple’s 4-hour price analysis chart shows that the price breakout was bearish at the start of today’s trading session as the coin was in a 12-hour correction, and then gains took the lead again and pushed the price to 0, $4042 as it continued its journey to the top. The bulls have gathered the price to a level where the bull trend has been restored.
The bullish yield is also seen from the RSI curve which rose to 57.69. The moving average is also trading well below the price level at $0.40 and volatility also appears high on the 4-hour chart with the top bar at $45.7 and the bottom bar at $39 $0.3 located.
Conclusion of ripple price analysis
Overall, Ripple’s price analysis is bullish as the pair has managed to bounce back above the $0.40 level and is expected to continue higher in the near term. The coin is recovering from the correction it faced and gains seem to be controlling the market for now.