Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?

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  • Ripple price analysis is bullish for today.
  • XRP/USD found support above $0.90 again.
  • XRP is set to rally high today.

Ripple price analysis is bullish today as another retest of the further downside was met with rejection, indicating an upcoming reversal. Since XRP/USD saw a bullish momentum return this morning, we expect this to continue later today, with the $1 mark likely to be broken again.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the green over the last 24 hours. The market leader, Bitcoin is up by 6.59 percent, while Ethereum has spiked by 11.6 percent. The rest of the top altcoin follow, with a gain of around 7-9 percent.

Ripple price movement in the last 24 hours: Ripple rallies from $0.90 support again

XRP/USD traded in a range of $0.8948 – $0.9815, indicating a substantial amount of volatility over the last 24 hours. Trading volume has increased by 7.76 percent and totals $3.342 billion, while the total market capitalization trades around $45.13 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP starts to move higher

On the 4-hour chart, we can see the Ripple price action gaining strength this morning, indicating further upside will follow today.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?
XRP/USD 4-hour chart. Source: TradingView

The overall market price action has traded within a strong bearish momentum over the past weeks. After an initial spike lower on the 7th of September, support was found around the $1.05 mark.

Above the support, XRP/USD consolidated for several days until another spike lower was seen on the 20th of September. This time, support was found above $0.85, with some consolidation above $0.90.

Later last week, the support was retested several times, with the last one, seen yesterday, quickly rejecting any further downside, indicating exhaustion for bears. Overall, this Ripple price action development should lead towards further upside later this week.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as a further downside was rejected again yesterday, and bulls have gathered strengths for a small rally this morning. Therefore, we expect to see XRP/USD reach further upside over the next 24 hours.

Source: cryptopolitan.com

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