Ripple Price Prediction: XRP selling slows down while buyers make a comeback

Published May 12, 2021 | Updated May 12, 2021

In Brief

Ripple gradually makes its way toward $2 after testing support at $1.2.

The seller congestion at the 50 SMA on the four-hour chart must come down to add weight to the breakdown.

Ripple XRP
Image Courtesy of Flickr

Ripple Price Prediction: XRP selling slows down while buyers make a comeback

Ripple gradually makes its way toward $2 after testing support at $1.2.

The seller congestion at the 50 SMA on the four-hour chart must come down to add weight to the breakdown.

Ripple appears to have renewed the uptrend following the flash drop from $1.6 to $1.2. Overhead pressure seems to be diminishing as bulls take control. Several hurdles have already been overcome, whereby XRP currently trades at $1.52.

Ripple’s slightest resistance path is upward

The cross-border money transfer token is immediately supported by the 100 Simple Moving Average (SMA). Other key support levels include the 200 SMA, $1.4, and $1.2. As long as support areas remain intact, bulls will have ample time to focus on building the bullish momentum toward $2.

Meanwhile, Ripple’s immediate upside is limited by the 50 SMA. A confirmed break above this level is needed to reinforce the upswing eyeing levels above $1.6.

Various technical levels have aligned for an upswing to $2. For instance, the Relative Strength Index (RSI) shines a light on an improving bullish grip. Following the dip to the oversold region, the RSI recovered above the midline and imminently headed to the overbought area. XRP has enough room for growth because it is nowhere near overbought conditions.

XRP/USD four-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

The Moving Average Convergence Divergence (MACD) hints at the ongoing uptrend pulling to higher levels. This bullish impulse has come into the picture as the indicator begins recovering from the negative region.

Investors are likely to increase their positions in Ripple if the MACD line (blue) crosses and sustains a divergence past the signal line. Moreover, it is a massive bullish signal when the MACD strikes above the mean line (0.00).

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Ripple intraday levels

Spot rate: $1.52

Trend: Bullish

Volatility: Growing

Support: 100 SMA, $1.4 and $1.2

Resistance: 50 SMA, $1.6

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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John Isige 995 Articles
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige
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