Ripple Price Analysis: XRP Jumps By >$0.050 Over Last Two Days
Daily Ripple XRP Price Forecast
- The Ripple price has reversed the parabolic SAR from negative to positive.
- The RSI in the 4-hour chart has dipped back into the neutral zone.
Since March 17, The Ripple price jumped up from 0.434 to $0.57, gaining around $0.15 in its overall valuation. During this charge, BCH flipped both the 20-day and 50-day SMAs from resistance to support.
Ripple Price Sentiment Flips From negative To Positive
Over the last 48 hours, the Ripple price jumped from $0.515 to $0.57, gaining more than $0.050 in its overall valuation. There are two more positive signs that we could see in this daily timeframe:
- The parabolic SAR has reversed from negative to positive.
- The MACD shows increasing bullish momentum.
Image: XRP/USD daily
Looking at the 4-hour Ripple price chart, there are two signs that show us that XRP has thwarted the bears. Firstly, the TD sequential detector was on the verge of flashing the sell signal in the form of a green-nine candlestick, but has stopped from doing so. Secondly, the relative strength index (RSI) has dipped from the overbought zone to the neutral territory.
Image: XRP/USD 4-hour
Ripple Cofounder Dumps 222.6 Million XRP In Past Two Weeks
Over the past two weeks, Jed McCaleb, the co-founder of Ripple, has moved over 222 million XRP tokens to be sold, as per XRPScan. McCaleb has been selling out his share of XRP tokens for a while now. He typically sends coins from his "tacostand" wallet to digital exchanges to convert them to fiat currency.
McCaleb has moved a whopping 222,600,000 XRP ($115,633,766) over the past 15 days. In 2013, McCaleb left Ripple Labs and went on to create the Stellar platform with native coin, XLM.
Since that time, he has been receiving substantial compensation in XRP for his help in founding the company. Regular XRP sales by McCaleb do not seem to have any impact on the XRP exchange rate. The community believes that McCaleb will sell out his entire XRP stash by the end of 2021.
Ripple Price Is Expected To Reach These Levels
Ripple price is expected to touch the $0.594 resistance barrier. If it takes this level down, it will reach the $0.60 psychological level.