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Ripple Price Analysis: We anticipate XRP/USD to spike to $1.25 over the weekend

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  • Ripple price analysis is bullish today.
  • XRP/USD is currently trading at $1.192
  • Technicals are bullish on XRP/USD.

Today’s XRP price analysis is positive as a new higher low will almost certainly be established at the $1.16 mark, resulting in a reversal. As a result, we anticipate XRP/USD to rise again above $1.22 and proceed higher to $1.25 in the near term.

The daily chart above for XRP/USD shows that Ripple‘s price is currently trading at $1.192 and is up 4.31% in 24 hours. The current market sentiment for XRP/USD is bullish as it’s trading above Ichimoku cloud and the base and conversion line (yellow, orange), which signals a bullish move in the near term.

The relative strength index ( RSI ) favors buyers; it is trading above 50 but very close to 52, which typically signals a buy for Ichimoku traders.

However, we note that the Oscillator is green today but red on last Friday, which signals indecision in the market, and a retracement could be possible. For now, though, it looks like XRP/USD will continue pushing higher.

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The daily chart above shows a similar picture for XRP/USD, but it can be seen that the Ichimoku Cloud is thicker, which signals stronger support for XRP/USD. Similar to yesterday’s technical analysis, we are looking for an early daily close above the conversion line at $1.2166, which will signal bullish momentum in the market today.

XRP/USD 4-hour chart: XRP looking to reverse above $1.16?

On the 4-hour chart, we can see previous resistance at $1.16 currently holding the Ripple price action from moving lower, likely resulting in a reversal later today.

Ripple Price Analysis: We anticipate XRP/USD to spike to $1.25 over the weekend 1
XRP/USD 4-hour chart. Source: TradingView

As far as resistance goes, there are no obstacles between now and $1.25 apart from the Ichimoku cloud, which could act as a resistance, but nothing is stopping XRP/USD from rising above it.

If you’re currently holding onto your XRP, then consider selling at any price above $1.2166 to take some profits off the table, as there are no guarantees that this will be an ongoing bull rally.

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If the price cannot maintain itself at $1.22 and falls further to $1.16 (previous support), the push to highs may likely fail, and we could see a reversal take place in XRP/USD. If this does happen, consider accumulating around $1.12 and setting a sell order to target $1.16 for a new low or a test of the highs.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today, and we anticipate XRP/USD to rise again above $1.22 and proceed higher to $1.25 in the near term. There are no guarantees that this will be an ongoing bull rally on the 4-hour chart, but there is strong momentum in place on lower timeframes.

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Ripple Price Analysis: XRP spikes to $0.91, support found?

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  • Ripple price analysis is bullish for the rest of the day.
  • XRP/USD saw heavy selling earlier today.
  • Support found around $0.91. 

Ripple price analysis is bullish today as a strong lower low has been set at $0.91, with buying pressure returning right now. Therefore, we expect bears to be exhausted, leading XRP/USD higher later today.

Ripple Price Analysis: XRP spikes to $0.91, support found? 1
Cryptocurrency heat map. Source: Coin360

The market has seen strong selling pressure over the last 24 hours. The market leaders, Bitcoin and Ethereum, are down by 6.07 and 7.1 percent, while Ripple (XRP) has lost almost 9 percent.

Ripple price movement in the last 24 hours: Ripple breaks $1.02 support, finds support at $0.91

XRP/USD traded in a range of $0.9367 – $1.06, indicating strong volatility over the last 24 hours. Trading volume has increased by 35.61 percent, totaling $4.27 billion, while the total market cap trades around $44.745 billion, ranking the coin in 7th place overall.

XRP/USD 4-hour chart: XRP looks to reverse from $0.91

On the 4-hour chart, we can see slight rejection for further downside for the Ripple price as bears are exhausted after a strong selloff earlier today.

Ripple Price Analysis: XRP spikes to $0.91, support found?
XRP/USD 4-hour chart. Source: TradingView

Ripple price has seen consolidation in an increasingly tighter range above $0.102 support over the past week. The $1.02 mark was initially reached on the 18th of November after a strong decline from the $1.35 previous major swing high.

Despite the $1.02 support holding, further lower lows were set over the week, slowly building up pressure in the market. Yesterday, another lower high was set at $1.06, leading to more downside overnight.

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Ripple price continued lower to $1.02 when a sharp break lower was finally seen over the past hours. Currently, XRP/USD has found low around $0.91, likely leading to recovery over the next 24 hours.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as further downside currently gets rejected after a spike to $0.91 earlier today. Therefore, XRP/USD has likely found a new low, leading to a retracement over the next 24 hours.

While waiting for Ripple to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

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XRP holds key support while indicators point to short-term recovery

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  • Ripple started a recovery wave above a key support level of $1.024. 
  • XRP price started an upside correction as indicators suggest a short-term recovery.
  • The coin may initiate a fresh downtrend upon a breakout of the $1.024 support level.

XRP is in the process of forming a triple bottom price pattern boding more upside, for the pair priced against the US dollar., XRP price recently found support at the pattern’s base during the formation of the third bottom. Now, Ripple is at a crossroads – a spike in selling pressure may drive a bearish breakout, whilst technical indicators signal a bullish reversal. It all depends on whether or not a critical support level holds. 

XRP rejected above the triple bottom at $1

XRP has found support above $1.024 and started a bullish recovery similar to peer altcoins. The XRP price has found footing at the $1.024 level for the third time making it a triple bottom pattern.

If there is increased demand at the current price level it will push the XRP price towards its double top level at $1.108. However, the 20 and 50-period exponential moving averages may act as minor hurdles at $1.076 and $1.108. 

The MACD has closed the first histogram above the 0 mark, indicating a bullish reversal. While the RSI is still holding at 44, a crossover above 50 may encourage investors to go long. In that case, the XRP price might spike towards $1.165. Additional gains could lift the price towards the next key hurdles at $1.218 or $1.284 

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 Ripple 12-hourly chart - Triple bottom to drive uptrend

 XRP 12-hourly chart – Triple bottom to drive uptrend

If XRP disappoints to start a new spike above the $1.081 level, it could extend losses. Initial support on the downside is near the $1.024 level.

The upward trend that started on September 21 also extends to significant support at the $1.024 mark. Therefore, a break below the $1.024 support level might push the price further down. The next critical support level is near $0.963, below which the price may fall to the $0.888 level.

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XRP price consolidates as Ripple bulls eye a 15% run-up

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  • XRP price is hovering above the $1.01 support level, anticipating a potential retest before an upswing originates.
  • A breakdown of this level could lead to a buy opportunity at $0.98 before Ripple rallies to $1.17.
  • A daily close below the $0.92 foothold will invalidate the bullish thesis.

XRP price has been on a downtrend for roughly two weeks and shows that a short-term reversal could be near. Market participants need to watch for two immediate support levels that are likely to facilitate this bullish outlook.

XRP price to pull a 180

XRP price has dropped roughly 23% since November 10 to where it currently trades – $1.04. The downswing is likely to retest the $1.01 support floor formed by the November 18 swing low. This will create a triple tap setup, suggesting that a short-term reversal in momentum is likely. 

In this scenario, the XRP price could attempt to retest the 50% retracement level at $1.17. This run-up would constitute a 15% ascent from $1.01.

While this scenario makes sense, a breakdown of the $1.01 support floor will suggest that a further downswing is possible. However, this move does not invalidate the bullish thesis but provides investors with a buy opportunity at $0.98. Investors can expect a bounce off this level to propel XRP price to the same level as before at $1.17. This move would constitute a 19% climb.

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XRP/USDT 4-hour chart

XRP/USDT 4-hour chart

While things are looking up for the remittance token, a breakdown of the $0.98 support level will create a lower low and invalidate the bullish thesis. This move would also suggest a weakness in buying pressure and set the stage for further losses. In this situation, market participants can expect XRP price to drop by about 6% to $0.92.

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