XRP/USD set to break above the $0.4257

TL;DR

• Ripple price analysis shows breakout imminent on hourly charts
• XRP/USD oscillates around $0.3855 as bulls ready to lead
• Ripple is looking at broader crypto market for the next move

Towards yesterday’s closure, the Ripple price analysis chart was breaking downwards before bulls gained momentum, pushing the prices higher in head and shoulder trends. However, the market opened today, with prices resuming the downward trend.

The immediate support lies at $0.4122, and a break below this level can cause the price to decline to $0.4050. On the other hand, if the bulls push the price up, the nearest resistance lies at $0.4257, which, if breached, can lead to further gains towards $0.4650.

The Bollinger bands show high volatility in the market as the price fluctuates between the upper and lower Bollinger bands. The MACD indicator is in the bearish zone as the signal line crosses below the MACD line.

The RSI indicator is currently at 53.35 and is heading towards the oversold region, which indicates that selling pressure is increasing in the market.

The downtrend is expected to continue as the market sets to break below the support at $0.4122 and head towards the $0.4050 level. However, if the bulls gain momentum, the market may head towards the $0.4257 level.

Ripple price movement in the last 24 hours: Bearish market conditions prevail

Ripple price analysis has been on a downtrend over the last 24 hours as it trades at $0.42321 at writing. The cryptocurrency has lost 0.82% in value over the said period and is currently trading below the $0.4257 level.

Source: Tradingview

Looking at the 30-minute XRP/USD chart, we can see that the market opened today with prices resuming the downward trend. The immediate support lies at $0.4122, and a break below this level can cause the price to decline further to $0.4050. On the other hand, if the bulls can push the price up, the nearest resistance lies at $0.4257.

The downtrend is expected to continue as the market sets to break below the support at $0.4122 and head towards the $0.4050 level. However, if the bulls gain momentum, the market may head towards the $0.4257 level.

XRP/USD 4-hour price analysis: Bulls eyeing a breakout

On the 4-hour Ripple price analysis chart, we can see that the market has been downtrend since the beginning of this month as it trades below the $0.4500 level. The market found support at $0.4210 and has been consolidating between these levels over the last few days.

Source: Tradingview

The market is expected to continue the downward trend as the MACD indicator is in the bearish zone and the RSI indicator is heading towards the oversold region. However, if the bulls gain momentum, we may see a move towards the $0.4257 level.

On the 4-hour Ripple price analysis chart, we can see that the market has been in a downtrend since mid-September as it trades below the $0.4500 level. The market found support at $0.4210 and has been consolidating between these levels over the last few days.

The market is expected to continue the downward trend as the most recent candlestick is a bearish engulfing candlestick, indicating that selling pressure is increasing in the market. However, if the bulls gain momentum, we may see a move towards the $0.4257 level.

Ripple price analysis: Conclusion

Ripple price analysis has resumed the downtrend after a brief period of consolidation, and the market is expected to continue the downward trend. The immediate support lies at $0.4122, and a break below this level can cause the price to decline further to $0.4050. On the other hand, if the bulls are able to push the price up, the nearest resistance lies at $0.4257.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.