The XRP price forecast shows that Ripple has risen more than 35% in the past 24 hours, reaching the critical $1.4 mark.
If the crypto asset closes the day above $1.4, this could trigger an upward run that could take it above $1.7.
At the 12-hour demand barrier, prices are expected to consolidate briefly before moving into bullish momentum.
In the past 24 hours, Ripple has seen a significant increase of 36% after regaining the $1 barrier.
XRP price forecast: Allgemeine Preisübersicht
Interessanterweise kam diese Kurserholung zu einer Zeit, in der Ethereum und Bitcoin deutliche Kurserholungen verzeichnen. For Bitcoin, it was possible to go above the $50,000 mark, while for Ethereum it was possible to go above the $2,500 mark. At the time of writing, Ripple is trading around $1.39 in a bullish environment from a descending hammer pattern.
During the recent market decline at last week’s close, the price of Ripple found support around $1. According to the daily chart, XRP managed to bounce off the support line twice, gaining nearly 40% to settle in the $1.4 area. Interestingly, the $1.4 level coincides with last week’s 100% simple moving average (SMA) and the opening price.
Currently, Ripple is likely to experience a slight price consolidation in the 24-hour demand zone, hovering between $1.2 and $1.4. This is the best scenario for the money transfer token before it goes up. In such a scenario, Ripple bulls could develop strong momentum, pushing the cryptocurrency some 25% towards the $1.7 region.
XRP price movement in the last 24 hours
If Ripple manages to break through the $1.7 area, the cryptocurrency could reach an annual high of around $2. The SuperTrend indicator is another technical indicator that gives confidence to the continued uptrend, as it seems to indicate a buy signal. For the first time in 30. March, the SuperTrend indicator flashes green. Confirming this positive outlook, Ripple’s funding price is close to zero, suggesting that traders are in no hurry to buy the crypto asset, despite its cheap price.
Ripple is trading at $1.39 and only has immediate resistance at the 100 simple moving average (SMA) level to move towards the $2 mark. If the crypto asset manages to beat this level, it will easily break through the other resistance barriers and head for the coveted $2.
XRP graphics 4 hours
In addition to the breakout of the hammer pattern, Ripple’s bullish momentum is also supported by the Moving Average Convergence Divergence (MACD) technical indicator. At the time of writing, the blue MACD line has settled back into positive territory and is now hovering above the signal line. If everything remains unchanged, Ripple’s rise will continue throughout the trading week.
Moreover, the Relative Strength Index (RSI) supports Ripple’s continued uptrend with its gradual recovery from oversold territory. The RSI indicator is currently in overbought territory, suggesting that now is a good time to buy the crypto assets. These factors suggest that Ripple is lucky because they suggest that it is on its way to the $2 mark.
Although Ripple is trading around a critical resistance area at $1.39, it remains in a safe haven. We expect near-term price consolidation before a sudden rise that will likely push Ripple above this region. However, if holders decide to sell their assets instead of buying, Ripple will close the day below the $1.25 level, which coincides with the 50 simple moving average (SMA). This will put a premature end to the current uptrend.
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