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Ripple price analysis: XRP likely to retest the $1.20 level

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Ripple price analysis reveals that the altcoin is readying up to retest the $1.20 level. However, the altcoin is moving independently of the current market trend set by the king Bitcoin and the queen Ethereum. The altcoin is down by 3.3 percent in the past 24-hours and by 5.39 percent in the past seven days. The altcoin is, however, moving into a small reverse head and shoulder momentum at the type of writing. Let’s take a look at the Ripple price analysis through candlestick charts.

XRP/USD 1-day chart shows bullish momentum brewing

The one-day Ripple price analysis candlestick chart reveals that the altcoin is priming for bullish momentum to retest the $1.20 high. The volatility is decreasing at the time of writing compared to the past few days. The upper Bollinger band is found at the $1.36 mark, serving as the strongest resistance. The nine-day moving average is also serving as strong resistance at the $1.175 mark, showing a bearish crossover at the time of writing.

Ripple price analysis: XRP likely to retest the $1.20 level 1
Whereas the lower Bollinger band is found at the $0.932 mark, serving as the strongest support point. The Bollinger bands’ average is at $1.14, serving as the strong support at the time of writing. The relative strength index is showing a score of 56.95, which is well below the overbought region and providing ample opportunity for bullish momentum to take place. The XRP price stands at the $1.63 mark at the time of writing.
Ripple price analysis: 4-hour chart confirms the brewing momentum
The four-hour Ripple price analysis chart reveals further confirmation for the altcoin going bullish at the time of writing. The volatility has decreased by a good margin on the four-hour candlestick chart, and the situation presents a good opportunity for buyers to pull the altcoin into the bullish momentum necessary to break past the current resistance. The upper Bollinger band is found at the $1.19 mark, serving as the strongest resistance, while the nine-day moving average (SMA 9) is found at the $1.155 mark, acting as the second resistance point.
Ripple price analysis: XRP likely to retest the $1.20 level 2XRP/USD price 4-hours candlestick chart. Source: Trading View
At the time of writing, the moving average is presenting a bearish crossroad with ample support found at the $1.20 mark. The lower Bollinger band is found at the $1.06 mark serving as the strongest support point, whereas the Bollinger bands’ average is found at the $1.131 mark serving as the second strongest support below the $1.20 mark. The RSI is, however, favoring the bullish momentum to brew further, standing at the 50.56 score. An almost absolute neutral between the oversold and overbought zones, the RSI is providing more than ample opportunity for the bulls.
Ripple price analysis conclusion
Ripple is currently in a bullish brewing momentum, with the price fluctuating between the $1.14 and $1.7 marks. If the current bullish momentum uses the support to break past the resistance, XRP is likely to get past the $1.7 resistance and beyond. If the current support gives way, the altcoin is likely to drop down to the $1.10 range.

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Former U.S. Treasurer Praises XRP While Dismissing Other Cryptocurrencies

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Rosie Rios chooses XRP over other cryptocurrencies, but there’s a catch

Former U.S. Treasurer Rosie Rios recently typed out some words of praise for XRP’s utility.

In her tweet, Rios claims that the Ripple-affiliated digital currency is used for cross-border payments, which she believes sets it apart from other coins that are mainly useful for speculation.

The ex-treasurer, whose name was printed on billions of U.S. dollar banknotes, believes that China’s most severe cryptocurrency ban to date is somehow supposed to highlight the difference.

“Rios’s words, of course, have to be taken with a significant pinch of salt given that she’s currently on Ripple’s payroll.

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As reported by U.Today, the San Francisco-based company added her to its Board of Directors in early May.

Kraken CEO Jesse Powell took a veiled swipe at Rios and Ripple in response to the recent effort to promote XRP:  

If you were wondering where some of these politicians get their ideas. We aren’t all on the same team, and we don’t all have the same goals. Don’t forget that.

In March, Powell opined that XRP started posing a “huge asymmetrical risk” to exchanges after Ripple was sued by the U.S. Securities and Exchange Commission last December.

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Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?

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  • Ripple price analysis is bullish for today.
  • XRP/USD found support above $0.90 again.
  • XRP is set to rally high today.

Ripple price analysis is bullish today as another retest of the further downside was met with rejection, indicating an upcoming reversal. Since XRP/USD saw a bullish momentum return this morning, we expect this to continue later today, with the $1 mark likely to be broken again.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the green over the last 24 hours. The market leader, Bitcoin is up by 6.59 percent, while Ethereum has spiked by 11.6 percent. The rest of the top altcoin follow, with a gain of around 7-9 percent.

Ripple price movement in the last 24 hours: Ripple rallies from $0.90 support again

XRP/USD traded in a range of $0.8948 – $0.9815, indicating a substantial amount of volatility over the last 24 hours. Trading volume has increased by 7.76 percent and totals $3.342 billion, while the total market capitalization trades around $45.13 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP starts to move higher

On the 4-hour chart, we can see the Ripple price action gaining strength this morning, indicating further upside will follow today.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?
XRP/USD 4-hour chart. Source: TradingView

The overall market price action has traded within a strong bearish momentum over the past weeks. After an initial spike lower on the 7th of September, support was found around the $1.05 mark.

Above the support, XRP/USD consolidated for several days until another spike lower was seen on the 20th of September. This time, support was found above $0.85, with some consolidation above $0.90.

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Later last week, the support was retested several times, with the last one, seen yesterday, quickly rejecting any further downside, indicating exhaustion for bears. Overall, this Ripple price action development should lead towards further upside later this week.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as a further downside was rejected again yesterday, and bulls have gathered strengths for a small rally this morning. Therefore, we expect to see XRP/USD reach further upside over the next 24 hours.

While waiting for Ripple to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

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Ripple’s Use Case Stand Out While Others Remain Speculative

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  • Ripple and SEC legal talks continue.
  • XRP provides great cross border payments.

The Securities and Exchange Commission (SEC) and Ripple (XRP) legal talks in the US continue to heat up. As a result, these issues have become one of the most talked-about topics in the crypto world. Recently, the CEO of Ripple, Brad Garlinghouse, insisted that the SEC has provided no clarity in crypto regulation and has lost sight of its mission to protect investors.

Despite this ongoing heated debate between SEC and Ripple, XRP continues to provide global service to all its users. This made Rosie Rios, the 43rd Treasurer of the United States, react in a tweet she posted:

This tweet posted by Rose Rios on Twitter speaks about the clear use case of XRP. In detail, XRP is one of the digital assets in the crypto world that provides a good use case for cross-border payments. The fast, secured, and low transaction fee is one of the highlights of XRP’s blockchain.

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However, not all digital assets are like Ripple. Other cryptos use cases remain in speculation. As a result, authorities in other countries can’t help but tighten their security against these crypto assets. For instance, China, in the past days, released a statement about its continued crypto ban.

Today, Ripple trades a decent price of $.97 per crypto with a market cap of over $45 billion. In terms of market position, Ripple remains one of the top ten digital assets in the crypto market.

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