XRP PRICE ANALYSIS
XRP is trading within a broader swing range of $0.45 to $0.75
Breaking either of this level on daily charts can indicate clarity in the upcoming price action. Using RSI, MACD, and other price indicators we can devise clarity on further trading opportunities in XRP.
At current valuations, XRP shows a slightly improved RSI range above 40. MACD is slowly recovering from the drawdown created during the end of May 2021. Improving MACD, RSI, and narrowing of Bollinger bands can create a better price momentum towards monthly high and even bridge the long time target of $1. Ripple has the potential to become a scalable cryptocurrency.
XRP on hourly charts has created a W pattern that is notorious for volatility. From a bullish standpoint, XRP shows some technical ability to retrace it's lost valuation and breach the $0.75 resistance.
For now, XRP should trade in a flat-up pattern to create a new trading zone. Support from $0.58 levels can create a bullish trend for XRP in the shorter term.
Based on our XRP price predictions, consistently touching overbought zones and reaching new highs on real traded value is creating a bullish sentiment on a smaller time frame. Taking support from $0.58 and reaching higher in each swing is a positive sentiment that can push XRP beyond the $0.75 levels.
