XRP Blasts Above $ 1.8392 As Bulls Tirelessly Chase $ 2.0 – Cryptopolitan

TL; DR breakdown

  • The forecast of ripple prices is far from exhausted as the XRP hits a high of $ 1.8392
  • The previous target of $ 1.58 is now becoming a major fulcrum for support
  • The continued buying amid overbought technical indicators keeps the bullish rally intact
  • A spike is forming on the 12 hour chart that may warrant a minor correction.

Cryptocurrency Heat Map from Coin360

When XRP skeptics questioned the endless bull rally and predicted a correction, the bulls pushed the price above $ 1.8392. Ripple price has increased more than 16 percent in the last 24 hours alone. The bulls are unstoppable as they are gaining momentum due to high volumes and liquidity.

The MRI indicator shows signs of spiking on the daily and 12-hour charts. Such a pattern results in a minor correction to the Ripple price prediction. Stretching Bollinger Bands, however, are in no mood to contract and allow for corrections. The relentless move has more than tripled the price of XRP in the past 35 days. Despite the exaggerated upward trend, the bullish ripple price forecast plays a big role.

Ripple price movement over the past 24 hours: overstretched and falling higher

The short-term charts are nothing short of an exuberant bullish rally. Almost all technical indicators are way out of bounds and clearly in bull territory. The transfer token is relentless as both fundamental and technical factors speak for it according to the Ripple price prediction.

The indecision of the weekend movement has turned into yet another bull run, as has the Ripple price prediction. The ultra-bullish momentum of April 4-6 now poses a serious challenge to the bullish momentum. The ascending price channel must stop at higher levels and take a break. A small stop near the $ 1.58 region left a bull flag and the price will be tested at a later date.

The XRP / USD has risen from $ 1.3776 to $ 1.8392. Market participants, who expected the forecast of declining ripple to materialize, were stunned. The height of the flagpole invites even more bulls to take long positions. The breakout point of the pole pattern remains at $ 1.58 and will no doubt serve as a key support level in the coming weeks.

XRP / USD 4-hour chart: Bollinger Bands no longer contain price actions

TradingView’s Ripple Price Chart

The Bollinger Bands have been overwhelmed for four days. They seem to be defying gravity as the XRP hits new highs every day. Currently, the price has risen above its January 2018 highs to hit $ 1.8392. This year, remittance-based cryptocurrency is up nearly 700 percent.

The numerous developments in the SEC lawsuit against Ripple did not affect the price hike or Ripple price prediction. In the course of the lawsuit, the possible outcomes play a crucial role in deciding the future course for price promotions. In the recent past, some exchanges even banned XRP trading, and the same was later restarted.

Valued at $ 60 billion, XRP is one of the leading cryptocurrencies in the market today. Valuation numbers have increased $ 12 billion in the past 24 hours. Such a meteoric rise in XRP price will only add further to its journey to new highs. The strong rally will face strong resistance at $ 1,800 before hitting the long-term target of $ 2.00 which seduces traders.

Conclusion on the ripple price forecast: $ 2.00 is in sight as traders pick up momentum

For the daily chart, the XRP / USD pair is deep in the overbought zone and needs to be corrected. The ascending price channel has ample support from the rising moving averages that push support levels higher when the Ripple price prediction goes up.

The symmetrical triangle pattern also helps the pair climb higher on the hourly charts. The $ 2.00 target will be a long way off if the bears can pull the price below the $ 1.57 support level.

The 25-day and 50-day moving averages also support the upward momentum. The key resistance at USD 2 acts as a magnet instead of offering massive resistance to the bulls. There is no doubt that the underlying dynamics, which are based on volume and liquidity, help buyers get more long positions.

Disclaimer of liability. The information provided is not trading advice. Cryptopolitan.com is not liable for investments made on the basis of the information provided on this page. We strongly recommend doing independent research and / or consulting a qualified professional before making any investment decisions.

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