By : COIN GABBAR
22 Sep 2022

RIPPLE PRICE ANALYSIS CMP-$0.4290: Bulls cheer on XRP; will the rally continue?

RIPPLE PRICE ANALYSI

The XRP price was trending upward on its chart. After a few days of consolidation, the asset finally moved north. 

The XRP price has increased by 7% in the previous 24 hours.

At the time of writing, the XRP price was trending upward on its chart. After a few days of consolidation, the asset finally moved. The XRP price has increased by 7% in the previous 24 hours. The coin has gained over 27% in the last week.

Buyers were attempting to raise the price, and they were finally successful in the past 24 hours. XRP was stuck at $0.44 for an extended period of time, but buyers rescued the cryptocurrency despite broader market volatility. Continued buying pressure might cause XRP to break through its immediate resistance, invalidating its bearish thesis. If the sellers take control, the price of XRP might fall close to $0.30. XRP is now trading at a critical support zone.

At the time of writing, the altcoin was around $0.043. On its chart, the XRP price has been consolidating for weeks. Finally, buyers pushed the price above the next level of resistance. XRP has broken over many resistance levels in the last week. The coin's immediate price ceiling is $0.44, as the cryptocurrency has struggled to break beyond that level for a few months.

On the other hand, the closest XRP support was at $0.38, and a fall from that level would drop XRP down to $0.30. If buyers continue continuously, XRP might go through $0.42, with a chance of breaking through the challenging resistance of $0.44.

According to Price Analysis, The market capitalization of this XRP is estimated to be $21,491,651,273. The 24-hour trading volume for the coin is around $3,685,162,646. XRP market capitalization has risen by 6.86%. However, trade volume decreased by9.79% during intraday trading. The market capitalization to volume ratio is 0.1715.

The first major barrier is at $0.4400. The next major hurdle is $0.4500. Any more gains might open the door for a move towards the $0.4700 barrier in the near term. Above $0.4700, XRP may soon hit $0.5000 level.

If RIPPLE fails to break over the $0.4400 barrier level, it may continue to fall to $0.4200. On the downside, the initial support level is $0.4000. The next major support level is $0.3900. If the price falls below $0.3900, it might fall below $0.3600.

On the one-day chart, the cryptocurrency appears to be generating an increased buy signal. Convergence of Moving Averages Divergence represents market momentum and cryptocurrency price movement.

The MACD crossed bullishly and generated green signal bars, indicating a buy signal for the coin. The extension of the signal bars indicates that XRP will rise in value on its chart.

The Parabolic SAR also predicts market direction, and dotted lines below the price candlestick indicate bullish momentum.

The Relative Strength Index was on the approach of reaching the overbought zone when it began to decline. Despite the slowdown, buyers continue to outnumber sellers in the market.

KEY LEVELS :

RESISTANCE LEVEL : $0.4500-$0.4700

SUPPORT LEVEL : $0.4200-$0.4200

Bull takes control on XRP price after breakout of Symmetric triangle pattern. Have you seen something cooking in the chart?

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