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Ripple price analysis: Can bulls break through the $1.10 resistance

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The Ripple price analysis shows that the asset has observed a drastic decline in its price volatility over the last few days as majority of traders seem to be speculating about the markets. The market sentiment was bullish a few days ago but now seems to have taken a bearish turn as the $1.050 support level has been breached twice in the past three days. 

The broader cryptocurrency market observes a bullish sentiment over the last 24-hours as most major cryptocurrencies record a positive change over the period. Major players include ICP and DOT that record a 9.47 and an 5.49 percent incline respectively. 

Ripple price analysis: Bulls struggle for market dominance

Ripple price analysis: Can bulls break through the $1.10 resistance 1
Technical indicators for XRP/USDT by Tradingview

Across the technical indicators, the MACD is bullish as expressed by the green histogram. The indicator exhibited a crossover on September 9 and has been bullish since. However, despite that, the momentum has remained low as the price continued to oscillate between the $1.00 mark adn the $1.150 mark with little to no movement beyond this region. 

The EMAs are currently moving upwards showing strong buyer activity at press time. However, the 26-EMA has been catching up to the 12-EMA which has observed a declining gradient due to the selling pressure above the $36.00 mark. 

The RSI is currently neutral and trades close to the indicator’s mean line at 50.00 index level. The indicator’s current position leaves room for sharp price movement in either direction across the short term charts. However, the indicator is currently moving horizontally suggesting that both sides are currently struggling to gain dominance over the price action. 

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The Bollinger Bands are narrow and have experienced a drastic change a few days ago as the bands converged sharply on September 9 when XRP stabilized around the $1.10 mark. Since then the indicator has remained narrow as the price oscillated around the bands’ mean line. 

Technical analysis for XRP/USDT

Overall, the 4-hour Ripple price analysis issues a sell signal, with 11 of the 26 major technical indicators suggesting a downwards movement across the timeframe. On the other hand, only six indicators are issuing a buy signal suggesting a low bearish presence at the current price level. At the same time, ten of the indicators remain neutral and do not issue any signals at the time of writing. 

The 24-hour XRP price analysis shares this sentiment and shows nine indicators in favor of the bears against eight indicators supporting the bulls. The analysis exhibits a negative sentiment suggesting downwards movement for XRP. Meanwhile, the remaining eight indicators sit on the fence and do not support either side of the market. 

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What to expect from the Ripple price analysis?

Ripple price analysis: Can bulls break through the $1.10 resistance 2
4-hour price chart by Tradingview

The Ripple price analysis suggests further consolidation as the mid-term technical analyses show the uncertainty in the markets. Furthermore, as BTC observes high volatility, XRP traders are currently speculating about the broader market’s next move. Similarly, the short-term charts show low trade activity occurring for the past few days as all eyes turn to BTC.

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Ripple may stay sideways: Elliott Wave analysis

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Ripple, XRPUSD is still good, but now that it didn’t manage to break above channel resistance line and that some ALTcoins are already at the resistance, then we have to be aware of more complex correction in wave B/2, until we see broken 1.18 bullish confirmation level. Maybe we will see more sideways price action or maybe even a retest of 1.00 – 0.85 support zone.

Ripple 1h Elliott Wave analysis

Ripple Elliott Wave

Ripple is nicely recovering in the 4-hour chart as expected and looks like it’s trying to break above channel resistance line that can push the price at least up to 1.25 – 1.40 area for wave (C) or maybe even up to 1.5 – 1.7 area for wave (3). Keep in mind that price may also stay sideways., so invalidation level remains at 0.85.

Ripple 4h Elliott Wave analysis

Ripple Elliott Wave

Check more of our analysis for currencies and cryptos in members-only area.

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Ripple Forecast and XRP/USD Analysis October 22, 2021

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XRP/USD are trading at 1.1195 and continue to move within the correction and bearish channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $52,000,913,021. Moving averages indicate a short-term bullish trend for Ripple. Prices are again pushing the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of the rise in the XRP rate in the market already from current levels. At the moment, we should expect an attempt to develop asset growth and test the resistance level near the 1.1305 area. Further, a rebound downward and the continuation of the fall of the cryptocurrency to the area below the level of 0.8655.

Ripple Forecast and XRP/USD Analysis October 22, 2021

In favor of falling XRP/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal in favor of a decline in asset quotes will be a rebound from the upper border of the descending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 1.2805. This will indicate a breakdown of the resistance area and a continued rise in XRP/USD to the area above the level of 1.5005. Confirmation of the fall in the digital currency rate will be a breakdown of the support area and closing prices below 0.9705.

Ripple Forecast and XRP/USD Analysis October 22, 2021

Ripple Forecast and XRP/USD Analysis October 22, 2021 implies an attempt to test the resistance level near the 1.1305 area. Where can we expect the cryptocurrency to continue falling with a potential target at the level of 0.8655. An additional signal in favor of a decline in Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling quotations will be a strong growth and a breakdown of the 1.2805 area. In this case, we should expect a continuation of the rise in the digital currency with a target above 1.5005.

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Ripple CEO Claims Ether Surpassed XRP Because of SEC

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Ether took XRP’s second spot because of the SEC, says Ripple CEO Brad Garlinghouse

During his appearance at the DC Fintech Week virtual conference, Ripple CEO Brad Garlinghouse opined that the regulatory clarity that Ether, the second-biggest crypto, has received from the U.S. Securities and Exchange Commission allowed it to surpass XRP:

Within the last few years, XRP was the second most valuable digital asset. As it became given that the SEC had given a hall pass to ETH, ETH has obviously kind of exploded…That clarity has helped.

Garlinghouse adds that market forces are supposed to determine winners and losers instead of regulators.   

In December 2017, XRP became the second-largest crypto but it has since slipped to seventh place.

Ether is now firmly in second place, with its market cap recently surpassing that of banking giant JPMorgan.

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Garlinghouse slammed Gary Gensler for refusing to answer whether the rival cryptocurrency is a security, adding that the existing securities laws are outdated:

If laws are so clear, then let’s just say the answer to these questions.

He also praised “Twitter sleuths” who are busy dissecting the SEC’s case against Ripple.

The Ripple boss has reiterated his oft-repeated claim about the lack of clarity in the U.S. He also said that the company had signed zero new customers in the States due to regulatory headwinds, but this didn’t stop the company from expanding worldwide:   

We are growing a lot more outside the United States.     

China’s hostile stance toward crypto also doesn’t make a lot of sense in the long run, according to Garlinghouse.

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