Ripple has been in the news lately due to a lawsuit filed by SEC against its CEO Brad Garlinghouse. Amidst this chaos, there have been reports of a massive bullish moment in the XRP. The rise of XRP in the last couple of days could create a Bullish sentiment.
Several investors and Crypto enthusiasts took to the Micro-Blogging platform Twitter to point out that the XRP is going to surge soon.
XRP Price Analysis
Decent transaction volumes worth $32,339,140,265 have taken place in the last 24-hours, according to CoinMarketCap. This volume is 28.21% more than that of the previous trading session. Experts suggest that if XRP does not dump in two trading sessions, there is potential to break the multiple resistances at $1.0 and $1.1 and fly above $1.3. XRP’s market cap stood at $43,912,719,768 after increasing by 7.59% in the last 24 hours.
Ripple(XRP) has held its prices above the trend line, consolidating over $0.93 levels. 30 Minutes candle chart trendline shows the currency still in bullish momentum. A single trading session with a good buying spree could elevate the XRP to $1.2 or above.
The Bollinger band supports the reasoning by narrow difference at the neck. Even the EMA, MACD indicates bullish momentum.
The Bollinger Bands indicate price alignment within the range and strengthening the possibility of another breakout targeting $1.2 shortly.
The RSI levels are at 40. Although the RSI indicator is calculated for 14 days generally, sufficient volumes are being held by investors. Any positive news could attract investors towards Ripple(XRP). The XRP investors are strong HODLers and there is significant buying that can commence.
Looking at the Fibo charts, Ripple has sustained well. The tool suggests that the targets could be hit and above if the resistance levels at 1.1 get broken and selling pressure decreases. Selling pressure could also bring the price down.
Resistance levels: 1.0 and $1.1
Support Levels: $0.95, $0.92