- Ripple price analysis is bullish today.
- XRP/USD set another lower low at $0.73 yesterday.
- Bullish momentum slowly returns.
Ripple price analysis is bullish today as we expect the $0.75 local resistance to be broken, potentially opening up the way for further advance. XRP/USD finding low at $0.73 could potentially be the end of the several-day decline for now as bears are finally exhausted.
Cryptocurrency heat map. Source: Coin360
The market has returned to bullish momentum over the last 24 hours. The leaders, Bitcoin and Ethereum, have gained 0.07 and 1.43 percent, respectively. Meanwhile, Ripple (
Ripple price movement in the last 24 hours: Ripple tests further lows at $0.73, rejected higher
XRP/USD traded in a range of $0.7359 – $0.7511, indicating a moderate amount of volatility over the last 24 hours. Trading volume has declined by 35.65 percent, totaling $1.03 billion, while the total market cap trades around $35.78 billion, ranking the coin in 8th place overall.
XRP/USD 4-hour chart: XRP breaking $0.75 resistance
On the 4-hour chart, we can see the Ripple price action currently breaking higher, potentially leading to a reversal over the next days.
XRP/USD 4-hour chart. Source: TradingView
Ripple price action has returned to bearish momentum over the past days. After previously failing to set further higher high above $0.81, a lower low was set at $0.79 on the 16th of January.
From there, XRP/USD declined by over 8 percent to the $0.73 mark, which was briefly broken yesterday. Since then, XRP has moved higher to the $0.75 resistance, which previously acted as support.
Therefore, the next target for the Ripple price action is the $0.76 local high. If it is broken, XRP/USD could see the end of the current decline and look to move back towards previous highs later in the week.
Ripple Price Analysis: Conclusion
Ripple price analysis is bullish today as we expect more upside after a strong rebound from the $0.73 previous low. Therefore, XRP?USD will likely move to test the previous local high at $0.76 later today.
While waiting for Ripple to move further, see our articles on
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