• XRP is on the rise, although it is still constrained by a tight consolidation

  • Today’s ripple pricing is optimistic, with more upside projected after a higher bottom of $0.60 was recorded on Thursday. As a result, the current retracement for XRP/USD likely culminate in another effort to the upside over the weekend.

    The market has steadily regained bullish momentum during the last 24 hours. Meanwhile, Ripple (XRP) has experienced a small dip of about 1%.

    Ripple remains above $0.60.

    XRP/USD fluctuated in a range of $0.5934 – $0.6189 over the previous 24 hours, indicating strong volatility. The overall trade volume has fallen by 21.49 percent to $1.15 billion. However, the currency’s total market value is at $29.34 billion, putting it in ninth place overall.

    On the 4-hour chart, we can see the ripple price gaining strength to go higher this morning, which will most likely lead to the previous high of $0.65 later this weekend.

    This week’s impact price activity has been very calm. Following a multi-day rally, XRP/USD reached a much higher high of $0.65 on January 26th, indicating that bullish momentum has returned to the larger market structure.

    The ensuing pullback formed a higher bottom at $0.60, indicating that the market will continue to improve. Since then, XRP has moved sideways over the support, laying a solid basis for a future ascent.

    As a result, another attempt to drive XRP/USD higher should start soon. Ripple’s price has already begun to rise somewhat, implying that additional gains are on the way in the coming hours.

    The ripple pricing is bullish, since we’ve seen a clear upper bottom form around $0.60 in recent days. XRP/USD is anticipated to rise now that a solid consolidation base has been established.

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