As the cryptocurrency market has continued to expand, so has the number of new altcoins being created and the number of people trading. Along with this increase in the total number of altcoins being traded, we have seen the development of many new exchanges, trading platforms and brokers.
The past week has been positive for Ripple’s price. After weeks of sitting between the $0.75 and $0.80 level, the coin passed the $1.00 line last Friday and has since traded between $1.00 and $1.07. Today, however, the price is lower than last week’s high.
Summary of the situation
- Yesterday, the XRP retested resistance at $1.10.
- Support is currently located at $0.95.
- The next resistance target is $1.20.
The ripple price analysis for today is bullish, as the market has pulled back and is preparing for another higher low. Therefore, we expect XRP/USD to move towards the $1.20 resistance over the weekend. Crypto-currency heat map. Source: Coin360 The general market has moved into negative territory over the past 24 hours. Bitcoin is trading at a loss of nearly 6% and Ethereum at a loss of 8.2%. The rest of the altcoin market is following a similar trend. The XRP/USD pair opened at $1.04 today after closing at a neutral level yesterday. Over the course of the night, Ripple’s price began to claw back, reaching $0.92 in the last few hours. So we should see a rise in prices and further upside over the weekend.
Ripple price movement in the last 24 hours
The XRP/USD traded in a range of $0.9202 to $1.05, indicating moderate volatility. Trading volume rose 10.55% to $4.3 billion. The cryptocurrency has a total market value of $42.6 billion, putting it in 7th place.
4-Hour chart XRP/USD – XRP springs lower at
On the 4-hour chart, we can see that Ripple prices have fallen in recent hours and formed a higher low. Four Hourly Chart XRP/USD. Source: TradingView The market as a whole is still in the process of reversing the previous major corrective move from the last high at $1.70. Support was eventually found at $0.64, and from there the market prepared for an upward move. We first saw a bounce to $1.10, then XRP/USD fell back to $0.80 and made a high low. The price of Ripple then established a high at the $1.10 resistance level, suggesting that the price structure has turned bullish again. The XRP/USD is currently preparing to set a higher low, suggesting that we should see another higher high over the weekend. The first target is $1.20, and from there the price of Ethereum is likely to rise with increasing momentum until a new all-time high is reached.
Ripple price analysis: Supplement
Ripple’s price analysis is bullish as the market continues to post higher lows to reverse the current bearish momentum that has been going on for weeks. Therefore, we can expect XRP/USD to move towards the next resistance at $1.20 over the weekend. While you wait for Ripple’s price to rise, read our latest guides on how to buy Cardano, mine Zcash and dominate bitcoin. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.