Ripple Price Analysis: XRP Recovering back Inside the Range, Will bulls be able to Sustain?

• Ripple price is recovering with strong uptrend momentum over the daily price chart.
• The crypto asset has recovered above 20 EMA and is preparing for 50, 100 and 200-days Daily Moving Average.
• The pair of XRP/BTC is at 0.000018 BTC with an intraday gain of 13.35%.

Ripple price is trying to recover back inside the consolidation phase as it is trading with strong uptrend momentum over the daily price chart. The token looks determined to register its recovery phase and gain exponentially. XRP bulls are trying to put their efforts to recover the token from lower levels. XRP investors need to wait until bulls sustain at the lower trendline of the consolidation phase to enter the range-bound area. However, bears may interrupt the uptrend momentum of XRP coin due to the ongoing bear market. 

Ripple price is presently CMP at $0.37 and has gained 13.83% of its market capitalization in the last 24-hour period. Trading volume has increased by 86% in the intraday trading session. This shows that XRP bulls are still indulging in the trade to register the token’s breakout. Volume to market cap ratio is 0.1008.

XRP coin price is trying to recover with strong uptrend momentum over the daily price chart. The token is accumulating bulls to register its breakout. XRP looks prepared to register its breakout and recover over the daily price chart. However, volume change is below average and needs to grow for XRP to register its breakout.

Support on the lower end is at $0.32 and resistance on the higher side is at $0.40.

XRP coin price is trying to accumulate buyers to register its breakout. The token looks pretty determined to recover back inside the consolidation phase. XRP at first went into a bearish rally in the start of June 2022 and then got support at $0.32 level to surge back inside the consolidation phase. Technical indicators suggest the uptrend momentum of XRP coin. Relative Strength Index showcases the strong uptrend momentum of XRP coin. RSI is at 52 and broke out of neutrality towards the overbought territory. MACD exhibits the bullish momentum of XRP coin. The MACD line just crossed the signal line registering a positive crossover.

Conclusion

Ripple price is trying to recover back inside the consolidation phase as it is trading with strong uptrend momentum over the daily price chart. The token looks determined to register its recovery phase and gain exponentially. XRP bulls are trying to put their efforts to recover the token from lower levels. XRP looks prepared to register its breakout and recover over the daily price chart. However, volume change is below average and needs to grow for XRP to register its breakout. Technical indicators suggest the uptrend momentum of XRP coin. RSI is at 52 and broke out of neutrality towards the overbought territory. 

Technical Levels

Support Levels: $0.32 and $0.30
Resistance Levels: $0.40 and $0.45

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.    

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.