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Ripple Price Analysis: XRP tests previous resistance at $0.97, breakout to follow?


TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD has advanced overnight.
  • Closest resistance at $0.97

Ripple price analysis is bullish today as another push higher was seen over the last 24 hours, leading the market back to the $0.97 resistance. Therefore, we should see an attempt to break higher to finally set a high thigh.

Ripple Price Analysis: XRP tests previous resistance at $0.97, breakout to follow? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded in the green over the last 24 hours, with Bitcoin up by 4.26 percent. Ethereum follows, with a gain of 4.57 percent, while Ripple has gained 3.75 percent.

Ripple price movement in the last 24 hours: Ripple rallies back to previous highs

XRP/USD traded in a range of $0.9311 – $0.9752, indicating a moderate amount of volatility over the last 24 hours. Trading volume has declined by 24.66 percent and totals $2.908 billion, while the market cap trades around $45.4 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP ready to break higher?

On the 4-hour chart, we can see the Ripple price action looking to break the previous high as bulls gathered momentum overnight.

Ripple Price Analysis: XRP tests previous resistance at $0.97, breakout to follow?
XRP/USD 4-hour chart. Source: TradingView

Ripple price action has seen sideways momentum over the past week. After consolidation above $1.05 during the middle of September, XRP/USD broke lower on the 20th of September.

Support was initially found at $0.85, while the following tests were supported by the $0.90 mark. XRP has formed another week-long consolidation, indicating exhaustion for further downside. 

However, until a higher high is set, we cannot say bulls have returned. Overall, this Ripple price action development means we need to see further upside before bullish trend resumes.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as bulls pushed back towards previous resistance overnight. Therefore, we expect the current resistance to break and a new higher high set.

While waiting for Ripple to move further, read our guides on how to create NFT art, NFT marketplaces, as well as Coinbase Wallet review.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



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