Price Analysis

XRP Price Attempts A Long Jump, Will It Trade Above $1 Today?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 14, 2021

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The de-list still hovers on the XRP as yet another exchange is all set to de-list the crypto asset in the coming couple of weeks. After the U.S’s SEC is after Ripple, now Canada joins the club against XRP. And hence, one of the exchanges Bitbuy announced the discontinuity of the XRP trade on its platform. However, this did not impact the XRP price to a large extent, instead the price initiated with a notable recovery. 

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After a notable flip, the XRP price is also experiencing a notable downtrend at the press time. However, the buyers have already jumped in to assist the price to maintain the upward trajectory. Technicals also manifest towards a notable uptrend approaching very fast nullifying the selling pressure. Yet the uptrend can only be validated once the asset surpasses the 200-day MA levels. 

  • XRP price hovered within the crucial support zones from past couple of hours and finally broke through the consolidation to surge towards the north
  • Yet the price is heading strongly to test the immediate resistance levels that reside along the 200-day MA levels. 
  • The RSI in the small time frame showcases a upward trajectory and could range towards the upper levels slowly yet steadily
  • Also the MACD is pointing out at a bullish divergence as the buying volume is slowly mounting on the surface
  • The price is testing the upper levels of the Bollinger bands manifesting the asset trending along the resistance levels

Collectively, XRP price is flowing as per the positive market sentiments, initiated with the gigantic surge of the Dogecoin price. No doubt a minor retracement may hinder the rally in between, yet the uptrend may continue until it reaches the mandatory resistance levels around $0.82. Further $1 may not be much distinct in the coming days. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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