XRP is a popular cryptocurrency that popped up earlier this year, but the market has been relatively quiet for the last few months. The last major move in the price of Ripple was in November 2017 when XRP broke all-time highs and briefly hit $3.70. Since then, XRP has hovered around $0.50, creating a lot of volatility for investors.
The past few weeks have been a challenging period for XRP holders. Since the XRP price had skyrocketed in the middle of the year, it has been a period of growth, in which the Ripple price has slowly been increasing. However, the recent correction has caused the price of XRP to dip below $0.50. The cryptocurrency price analysis shows XRP is slowly making its way back towards the $0.70 mark.
Days after breaking above $0.50, Ripple’s price has pulled back from that level as it awaits the next wave of bulls to break above $0.70. It comes amid growing trade flows, and despite the XRP token’s recent crash, the altcoin is now within striking distance of its all-time high.Summary of the situation
- XRP closed higher yesterday.
- During the night the weather became clear and high.
- Ripple is currently preparing for another bullish push.
The Ripple price analysis for today is bullish, as the market set an overnight high and touched the 100-period moving average. Therefore, we can expect XRP/USD to rise today and try to reach the next resistance at $0.80.
Overall, the market is moving within the bearish action that has developed in recent weeks, now that a new higher low has formed near the $0.50 level. Since then, the XRP/USD has begun a decline in recent weeks as bulls try to recoup some of their losses.
The $0.70 level initially served as resistance, but after a small pullback, Ripple rose and set a new high overnight. This development suggests that the market is ready to strengthen later this week, with the $0.80 level as the next target. From here, Ripple could approach its previous all-time high and make up further losses.
If there are further declines later in the day, XRP/USD is likely to head towards the previous support around $0.50. Further price declines are likely in the coming weeks if the downward momentum that has been in place for several weeks continues.
Ripple price analysis: Supplement
Ripple’s price analysis for the next 24 hours is bullish, as a much higher high was made last night and the bulls are preparing to push Ripple towards the next major target at $0.80.
While we wait for Ripple to launch, read our guides on what you can buy with bitcoin, bitcoin commissions and what DeFi is.
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.The Ripple price has been on a steady decline over the past few months, and the coin has now broken above $0.70, preparing a possible push higher across the cryptocurrency market.. Read more about xrp stock price and let us know what you think.
xrp/inr tradingviewxrp/inr chartethinrbtc/inr chartxrp stock priceripple stock forecast,People also search for,Privacy settings,How Search works,xrp/inr tradingview,xrp/inr chart,ethinr,btc/inr chart,xrp stock price,ripple stock forecast,xrp price prediction 2021,how much is xrp right now