XRP Price Prediction: XRP Set To Jump Towards 200 EMA; Good Time To Enter!
Ripple (XRP) price today’s current price action indicates indecision among investors. XRP is trading in a very tight range of $0.76-$0.78. It appears that the asset is waiting for a confirmation to set further directional bets.
- Ripple’s (XRP) price trades sideways on Thursday.
- XRP is expected to Jump toward $200 EMA at $0.85.
- Altcoin surged 45% from February lows of $0.62.
XRP price awaits symmetrical triangle formation breakout
Ripple (XRP) is facing stiff resistance near the critical $0.80 mark as the price is not able to give a decisive close above the mentioned level. However, the downside is capped at around $0.75 thus contributing to the sideways price action.
The On-Balance-Volume (OBV) indicator, tells about an asset’s total running volume. Looking at the indicator reveals volume is moving higher in correspondence to the upside price movement.
RSI: The daily Relative Strength Index (RSI) is trading flat at 51 above the average line. Any uptick in the indicator will push the price above the consolidated range.
MACD: The Moving Average Convergence Divergence (MACD) hovers above midline with a bullish bias.
Furthermore, XRP on the daily chart forms a ‘Symmetrical triangle’, with above indicators readings there is a high probability of an upper breakout with the immediate target at crucial 200-day Exponential Moving Average (EMA) at $0.85.
An acceptance above the mentioned moving average will see December 27 highs at $0.95.
As of publication time, ETH/USD is trading at $0.77, up 0.11% for the day. The 24-hour trading volume of the sixth-largest cryptocurrency by market cap is down by 23% at $2,122,299,636.
Talking about another possibility, a failure to sustain the session’s low will invalidate the bullish thesis for the pair. XRP could test $0.71 on the downswing.
A fresh round of selling would be initiated if the price breaks below the reliable support placed at $0.70.
- CFTC Approves Stablecoins as New Collateral Option in U.S. Derivatives
- Fold Launches Bitcoin Credit Card with Stripe and Visa Partnership
- SEC Approves Grayscale’s Ethereum ETFs Under New Generic Listing Standards
- Breaking: Jerome Powell Cools Further Rate Cut Expectations, Bitcoin Drops
- Senate CLARITY Act Markup Delayed Amid Looming U.S. Government Shutdown
- PEPE Coin Price: Analyst Sees Breakout-Retest Pattern- Will It Surge Over 230%?
- Shiba Inu Price Eyes 25% Rally as Outflows Jump and Whales Buy 62B Coins
- XRP Price Rises on mXRP Launch, Recovery Ahead?
- Solana Price Prediction: $836M Whale Transfer Spark Fear of $200 Retest Before 62% Rebound
- Bitcoin Price Prediction: $150K in Q4 as Gold’s ATH Momentum Sets the Tone
- PUMP Price Forecast: Whale Buys 1B Tokens as Bullish Pennant Signals 65% Breakout
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.
