HomeAltcoinsRipple price analysis: Bullish wave surpasses $0.3734 hurdle after a recent upturn

Ripple price analysis: Bullish wave surpasses $0.3734 hurdle after a recent upturn

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Ripple price analysis shows an uptrend in the cryptocurrency as it has managed to surge past its previous highs of $0.3734 after a string of bullish momentum. Bulls and bearish are struggling for dominance in the market, with support for XRP/USD seen at $0.3517 and key resistance at $0.3735. The bears have been reigning in the market for the past few days and it is unclear whether they will be able to overtake the bulls in the short term.

XRP/USD 1-day price chart: Upside continues as price targets next aim above $0.3535

The one-day Ripple price analysis is showing a strong bullish trend for the day as the buying momentum seems to be intensifying. Green candlesticks are marking the one-day XRP/USD price chart, which is indicative of an increasing trend. Currently, the coin value is $0.3734, and it is highly expected that it will reach a higher goal in the upcoming days. 

Ripple price analysis: Bullish wave surpasses $0.3734 hurdle after a recent upturn
XRP/USD 24-hour chart. Source: Trading View

A crossover between SMA 20 and SMA 50 curves is taking place, which is a huge bullish indication and a great accomplishment for buyers. Moving on to the Bollinger Bands Indicator, the upper value is at $0.3735, whereas the lower value is at $0.3517. The Relative Strength Index (RSI) graph shows an upward curve as the score just heightened up to 39.80.

Ripple price analysis for 4-hour price chart: Recent updates

The 4-hour Ripple price analysis shows that the bullish trend is still going strong, as the coin value has been increasing continuously over the last 4 hours. The bulls are currently attempting to push the prices toward the key resistance which is seen at $0.3735, and if they are successful, a move toward $0.3785 can be expected in the near term. The key support for XRP/USD is seen at $0.3517, and a break below this level can result in further selling pressure as the prices may retest the $0.3413 support level.

Ripple price analysis: Bullish wave surpasses $0.3734 hurdle after a recent upturn
XRP/USD 4-hour chart. Source: Trading View

The relative strength index is currently at 41.23 and is slowly rising towards the overbought region, which suggests that the prices may consolidate at current levels before a breakout. The Moving average is currently at $0.3631 and is headed for a crossover with the 4-hour 200 MA, which is another bullish indicator signaling further upward price action in the near future. The Bollinger band is both expanding and moving downward, which suggests that volatility in the market is likely to continue.

Ripple price analysis conclusion

Overall, the current Ripple price analysis suggests that the bullish trend is likely to continue in the near future as long as bulls maintain their grip on the market. Both daily and 4-hour charts are showing bullish signs, and the coin value is likely to test higher resistance levels in the next few days.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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