Ripple Price Analysis: XRP Flashes Multiple Buy Signals
Daily Ripple XRP Price Forecast
- 20-day and 50-day SMAs provide support.
- Ripple price shows increasing bullish momentum.
Over this week, the Ripple price bounced up from the 50-day SMA and went up to $0.55 resistance, where it met resistance and dropped back down. Now, it looks like XRP is on its way back up again.
Ripple Price Finds Support At 20-day And 50-day SMAs
The Ripple price went up from the $0.48 support, which sees a confluence of the 20-day and 50-day SMAs and went up to $0.52. It will be interesting if XRP manages to break the $0.55 line and close a candle above it for the first time in over a month.
Image: XRP/USD daily
Now, when we look at the 4-hour Ripple price chart, it has flashed three different buy signals:
- The MACD shows increasing bullish momentum.
- The Bollinger band has started expanding to show increasing Ripple price volatility.
- The parabolic SAR has reversed from negative to positive.
Image: XR/USD 4-hour
#RelistXRP Army Going Strong
XRP fandom, also known as the “XRP army,” has recently launched a series of online movements. This move aims to seek the relisting of XRP on exchanges that had delisted it following Ripple’s legal battle with the SEC.
Community members from several countries have joined the movement across different social media platforms to pressure crypto trading platforms to bring back XRP. They claim that the ongoing SEC-Ripple court case should not affect XRP trading.
The lawsuit has undoubtedly affected the blockchain network. The suit resulted in XRP losing its market valuation and drop in market rankings. The firm also recently lost one of its business partners - MoneyGram.
Ripple CEO Brad Garlinghouse recently cited that the court proceedings have not impacted its business deals in Asia. Ripple associates in Asia like SBI Holdings have remained supportive despite the ongoing lawsuit.
Ripple Price Is Expected To Reach These Levels
The Ripple price will touch the $0.55 resistance again. If it manages to flip this line, XRP will reach $0.60.