• Ripple Price Analysis: XRP soars to $0.91; has support been found?

  • Today’s ripple price analysis is bullish, as a strong lower low has been set at $0.91, and buying pressure is returning. As a result, we expect bears to be exhausted, causing XRP/USD to rise later today.

    Over the last 24 hours, the market has been under intense selling pressure. Bitcoin and Ethereum, the market leaders, are down 6.07 and 7.1 percent, respectively, while Ripple (XRP) is down nearly 9 percent.

    Ripple price movement over the last 24 hours: Ripple breaks the $1.02 support level and finds support at $0.91.

    Over the last 24 hours, XRP/USD traded in a range of $0.9367 – $1.06, indicating high volatility. Trading volume has increased by 35.61 percent to $4.27 billion, with a total market cap of $44.745 billion, placing the coin in seventh place overall.

    XRP/USD 4-hour chart: XRP appears to be reversing from $0.91.

    On the 4-hour chart, we can see a slight rejection for further downside for the Ripple price, indicating that bears are exhausted following a strong selloff earlier today.

    Over the last week, the ripple price has been consolidating in an increasingly narrow range above the $0.102 support level. The $1.02 level was first reached on November 18th, following a sharp drop from the previous major swing high of $1.35.

    Despite the $1.02 support holding, further lower lows were set over the week, gradually increasing market pressure. Yesterday, a lower high of $1.06 was set, resulting in more downside overnight.

    When a sharp break lower was finally seen over the past hours, the ripple price continued to fall to $1.02. Currently, XRP/USD has found a low around $0.91, indicating that it will likely recover over the next 24 hours.

    Conclusion of the Ripple Price Analysis

    Today’s ripple price analysis is bullish, as further downside is currently being rejected following a spike to $0.91 earlier today. As a result, XRP/USD is likely to have found a new low, resulting in a retracement over the next 24 hours.

    While you wait for Ripple to move forward, check out our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

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