The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us

bonafides

  • Login
The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us

bonafides

The Market Periodical

bonafides

Home Cryptocurrency

XRP Price Analysis: Ripple bulls bring a semblance of hope; will the uptrend last?

Nancy J. Allen by Nancy J. Allen
May 13, 2022
in Cryptocurrency, Markets, News
0
XRP Price Analysis
192
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

•XRP/USD is currently priced at $0.45 and has increased by 28.09% over the last day

•The technical indicators are showing signs of recovery in the near term

Related articles

XMR Price Analysis: Price actions leaves Monero nursing its wounds

Monero Price Analysis: XMR Trading below Downward Sloping Line, What’s the Bullish Plan?

June 29, 2022
AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!

AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!

June 29, 2022

•The trading volumes have decreased by 20.30% over the past day

Short Term View: A big question mark still surrounds Ripple

Source: XRP/USD by TradingView 

The Ripple price today is $0.453252 USD with a 24-hour trading volume of $4,559,344,522 USD. Ripple is up 28.09% in the last 24 hours. The trading volumes have decreased over the past day as the selling pressure has eased out gradually. The Volume to Market Cap Ratio stands at 0.2081 for the altcoin. 

The bearish sentiment took a massive drain on Ripple Price which contributed to major selling pressure in the crypto asset in the past few days. The bulls have reared their heads once again however, as is demonstrated by today’s price action. There is still the threat the threat of bears making their presence known as the Ripple Price is currently transacting above the 20 SMA but below the 50 SMA on the four hour chart, which would act as resistance in the short term. This indecision amongst the investors indicates that the momentum is yet to side with the bulls. If the uptrend continues, the altcoin would likely encounter resistance at $0.60 which would be a major boost for the bulls. On the flip side, the support for the asset is placed at $0.35 in the event of the bears staging a comeback. 

Long Term View for Ripple 

Source: XRP/USD by TradingView 

Today’s price action has seen a considerable amount of inflows into Ripple crypto as is demonstrated by the technical indicators. The RSI has climbed out of the oversold territory from yesterday amid a spike in buying activity. The MACD indicator, on the other hand, shows a slight reduction in the red histograms on the daily chart as the selling pressure has fizzled out. However, a bearish cloud still hovers over the altcoin as the MACD and signal lines are transacting in the negative zone.

Conclusion 

The massive selling pressure led to sharp drops in the Ripple prices over the past few days. However, the bulls have endeavored to take take matters into their own hands as the Ripple Price action provided some respite to the investors. It remains to be seen how the future plays out for the asset as market continues to recover from the recent setback.

Support: $0.40-$0.35

Resistance: $0.60-$0.70

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. 

Share77Tweet48
Nancy J. Allen

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

Related Posts

XMR Price Analysis: Price actions leaves Monero nursing its wounds

Monero Price Analysis: XMR Trading below Downward Sloping Line, What’s the Bullish Plan?

by Nancy J. Allen
June 29, 2022
0

Monero's price is currently falling below a downward sloping line over the daily chart.The crypto asset fell below the 20,...

AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!

AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!

by Antonio K Smith
June 29, 2022
0

AAVE price is declining through a falling wedge pattern over the daily price chart.AAVE crypto fell below 20, 50, 100...

Decentraland Price Analysis: MANA must Escape this Range to Soar from 2021 Lows

Decentraland Price Analysis: MANA must Escape this Range to Soar from 2021 Lows

by Ritika Sharma
June 29, 2022
0

Decentraland price is trading inside the horizontal range-bound area over the daily price chart.MANA token fell below 20, 50, 100,...

UNI Price Analysis: Tumultuous price action leads to Uniswap price falling 

UNI Price Analysis: Tumultuous price action leads to Uniswap price falling 

by Nancy J. Allen
June 29, 2022
0

•UNI/USD is currently priced at $4.92 and has decreased by 8.93% over the past day •The trading volumes have increased...

SOL Price Analysis: Solana price action leaves investors reeling 

SOL Price Analysis: Solana price action leaves investors reeling 

by Antonio K Smith
June 29, 2022
0

•SOL/USD is currently priced at $34.22 and has decreased by 12.58% over the past day  •The trading volumes have increased...

Load More
  • Trending
  • Comments
  • Latest
charged-particle-backdrop

Charged Particles Helps in Making the Future of Nextgen NFTs

May 13, 2021
Powerledger

Powerledger is revolutionizing the world of energy

January 31, 2022
ETH

Ethereum Analysis: Ethereum Hits A New All-Time High of $1467; ETH On Longspan Bull Rally?

January 28, 2021
Tron Price Analysis: The Tron Voin Showcased an Attempt To Break Out From The $0.083 Mark

TRON (TRX) Analysis: Is TRON going to continue its Bullish Rally?

October 30, 2021
XMR Price Analysis: Price actions leaves Monero nursing its wounds

Monero Price Analysis: XMR Trading below Downward Sloping Line, What’s the Bullish Plan?

0
Bitfinex

Bitfinex Lets Users Earn on their Bitcoin with Celsius

0
Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

0
Cryptocurrency

U.S. Congress Members Have Introduced 40 Bills on the Subject of Cryptocurrencies

0
XMR Price Analysis: Price actions leaves Monero nursing its wounds

Monero Price Analysis: XMR Trading below Downward Sloping Line, What’s the Bullish Plan?

June 29, 2022
AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!

AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!

June 29, 2022
Decentraland Price Analysis: MANA must Escape this Range to Soar from 2021 Lows

Decentraland Price Analysis: MANA must Escape this Range to Soar from 2021 Lows

June 29, 2022
UNI Price Analysis: Tumultuous price action leads to Uniswap price falling 

UNI Price Analysis: Tumultuous price action leads to Uniswap price falling 

June 29, 2022
  • Home
  • Contact Us
  • SUBMIT PR

© 2022 The Market Periodical

 
No Result
View All Result
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
  • Contact Us

© 2018 JNews by Jegtheme.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?