Ripple was recently in the news following a lawsuit filed by the SEC against its CEO, Brad Garlinghouse. Amid this chaos, there have been reports of a massive upward trend in XRP. The surge in XRP over the past few days could create bullish sentiment.
Several investors and crypto enthusiasts visited the micro-blogging platform Twitter to suggest that the XRP is set to rise soon.
XRP price analysis
According to CoinMarketCap, there have been decent transaction volumes worth $ 32,339,140,265 in the past 24 hours. This volume is 28.21% higher than that of the previous trading session. Experts suggest that if XRP does not drop in two trading sessions, the multiple resistances can be broken at $ 1.0 and $ 1.1, and flown above $ 1.3. XRP’s market cap stood at $ 43,912,719,768 after rising 7.59% in the past 24 hours.
Ripple (XRP) has held its prices above the trendline and has consolidated above $ 0.93. The 30-minute trendline on the candlestick chart shows that the currency is still on the up. A single trading session with a good buying spree could raise the XRP to $ 1.2 or more.
30 minute XRP ripple graph
The Bollinger Band supports the argument through tight differences on the neck. Even the EMA, MACD are showing bullish momentum.
The Bollinger Bands indicate a price adjustment within the range and reinforce the possibility of another breakout targeting $ 1.2 shortly.
The RSI values are around 40. Although the RSI indicator is generally calculated for 14 days, sufficient volumes are kept by investors. Any positive news could attract investors to Ripple (XRP). The XRP investors are strong HODLers and there are substantial buys to begin with.
Looking at the Fibo charts, Ripple has held up well. The tool suggests that if resistance levels at 1.1 are broken and selling pressure eases, the targets could be met. The pressure to sell could also lower the price.
Resistance Levels: 1.0 and 1.1 USD
Support levels: $ 0.95, $ 0.92
RSI (14): 40