By Franklin Smith
Ripple’s XRP has had sideways price movements between 10 December and 19 December. The cross-border transaction crypto oscillated in the $0.085 – $0.7760 range at the time amid the consolidative move. XRP price gained 5% within the past 24 hours and seemed prepared for another 17% upswing to reclaim the crucial level of $1.
Ripple Can Surge to $1.029
According to the 4Hr price chart, XRP experienced increased trading volume. Moreover, the 100-Simple Moving Average pressed the coin’s price downwards, curtailing the latest trials to take Ripple higher. However, bulls seem to have stepped up, and crypto analysts expect amplified buying pressure in the remittance coin. That might allow bulls to crack beyond the overhead hurdles near $0.9236. The 200-Simple Moving Average embraces this level.
That will authorize a decisive breakout by Ripple bulls, and XRP might witness an 18% uptick, tagging the 30 November range high near $1.029.
XRP/USD 4Hr Chart
The four-hour timeframe confirms the possible upswing as the SuperTrend indicator flashes a buy hint. This indicator follows an asset’s trend like MAs, but as it appears on the chart, it gauges volatility, thus sending sell and buy signals.
A daily close under the price leads to SuperTrend changing to green from red and shifting under the price, flashing a bullish gesture. A bearish note happens when the SuperTrend jumps beyond the price and switches to red. Meanwhile, the Ripple upside journey will continue if the coin retains the buy signal on the price chart.
Moreover, the MACD indicator presented a buy XRP signal, indicating possible price upticks in the short term. That happened early on Monday when 12 Exponential Moving Average crossed beyond the 26 Exponential Moving Average, supporting Ripple’s bullish tale.
However, the Relative Strength Index suggests possible retracements in the short term. That comes as the indicator saw a sharp move from the overbought territory. That indicates Ripple bears overpower bulls for now, and the alt might continue plunging in the short term.
Ripple has to maintain above the support barrier of $0.837 to show buyers’ strength. Losing this footing might see XRP dropping towards the demand area at $0.749 to gather liquidity.
Stay tuned for incoming cryptocurrency news.