Despite having to contend with the Securities and Exchange Commission’s case, Ripple has been able to regain its pricing ranges reasonably quickly. For example, in April, the crypto asset reached a three-year peak, surprising those who had predicted a drop to the 0 price level in the aftermath of the court as mentioned above case.
Price Prediction for Ripple: A General Summary
Finally, Ripple has converted the thorny $1.3 resistance level into a critical support level, allowing bulls to drive the coin even higher. On the 12-hour scale, the bullish pattern has managed to break through the $1.5 50 Simple Moving Average (SMA). This move solidifies the market’s involvement of Ripple bulls. Furthermore, last week’s $1.6 resistance level seems to have been a significant trigger in driving Ripple past the $1.7 mark.
XRP is currently priced at about $1.6, after a 15% price increase in the last 24 hours. According to leading technical indicators, Ripple seems to be on pace to unseat Dogecoin as the fourth-largest cryptocurrency by market value. This is due to the cryptocurrency’s latest boom, which has seen it gain more than $10 billion in trading volumes through all channels. Ripple’s market capitalization is currently around $78 billion.
The price of Ripple has changed in the last 24 hours.
Ripple’s 24-hour graphic shows that the crypto asset has increased in value by 17 percent. This came when Ripple was selling at $1.4 following a 3.5 percent price drop on the 48-hour tracker. The crypto coin bounced back to surpass the $1.7 threshold at the outset of today’s trade. Ripple was able to shape an ascending triangular pattern on its 4-hour map as a result of this, indicating a bullish outlook. The formation of an ascending triangular pattern signals the start of bullish momentum. In this scenario, the latest trajectory indicates that Ripple is poised to resume its upward trend.
If Ripple continues to trade over $1.6, it will shape a cup-and-handle base trend, which will provide prospective buyers with an incentive to purchase at a low price. Ripple is likely to face some opposition at the $1.95 resistance range on April 13th, but the $2 and $2.1 market regions are supposed to pose a more severe obstacle.
4-hour map of Ripple
The latest bull run seems to have been validated by the Moving Average Convergence Divergence (MACD) blue line on Ripple‘s 4-hour map. The MACD blue line appears to be well above the signal line, despite floating in the positive field. This is beneficial because it creates a positive story.
As a result, the Relative Strength Index (RSI) indicates that Ripple is not facing any significant resistance on its upward course. Ripple is expected to see substantial buy orders if the remittance token bursts out above the $2 mark to head towards $2.3.
Ripple is rapidly establishing itself as a high-risk, high-reward virtual commodity based on its recent price movement. As a result, investors must be mindful of Ripple’s critical support thresholds, as any price downturn below $1.3 might send the cryptocurrency plummeting.