Ripple Price Analysis: XRP Aims For 20% Gains Above This Bullish Formation
The Ripple (XRP) price prints modest gains on Wednesday. However, it lacks buying strength as the price moves with very limited price action. Currently, the XRP/USD is trading at $0.33, up 0.41% in the past 24-hour. The trading volume fell 16% to $990,174,543.
- XRP price is making efforts to hold onto gains following a consolidation near a lower level.
- The price has deprecated nearly 12% over the past one week due to a lack of buying interest.
- However, the formation of the Doji candlestick near the support level suggests bulls are not in the mood to give up.
According to CoinMarketCap, the total market cap of the seventh largest coin stands at $16,423,297,995.
XRP price analysis has turned mildly positive as the bulls have managed to hold the $0.3274 mark. The move towards the $0.33 has taken the bears on the ride. Buyers are getting support on the hourly chart.
XRP price looks for an upside reversal
On the daily chart, the XRP price is moving in a see-saw range between $0.32 and $0.34 with the downside being capped. The XRP price analysis shows that the bullish bias is getting traction with the reversal sign getting more pivotal.
The formation of multiple Doji candlesticks indicates that buying interest is brewing up among investors. Now, a green candlestick above the 20-day EMA at $0.3458 would further strengthen the upside momentum in the asset.
The bulls would next explore another critical 50-day moving average at $0.3630 followed by the highs of July 20 at $0.3816.
Neutral readings from the momentum oscillator signal extended consolidation and ask for more confirmation.
On the flip side, a break below the session lows would invalidate any bullish argument.
1-hour chart approaches critical upside level
After falling from the highs of $0.3475 on July 26, the XRP price has been consolidating in a short-term range of $0.3270 and $0.3410.
To support the bullish argument, the price pierces above the 50-day ema at $0.3376. Next, the bullish MACD also advocates short-term upside in XRP.
Resistance: $0.3410
Support: $0.3305
- XRP On-Chain Data Flashes Buy Signal as Analysts Target $4
- U.S. To Start Funding Its Bitcoin Reserve Anytime, Says Senator Lummis as BTC Rally Extends
- Bitcoin Should Be At $148,000 To Match With Gold Rally, Says Peter Schiff
- Dogecoin Gets Major Upgrade With Cardinals Index Node Launch, Analyst Predicts 37x Rally
- Coinbase Announces DoubleZero (2Z) Listing Following the US SEC’s No-Action
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
