Ripple Price Analysis: XRP Stuck Between Two Crucial Levels
Daily Ripple XRP Technical Analysis
- The Ripple price volatility is increasing as the Bollinger Band has started expanding.
- XRP in the 4-hour chart is on the verge of flashing multiple buy signals.
- The MACD is on the verge of flipping from red to green.
- Reversing the 20-bar SMA to support will flip parabolic SAR from negative to positive.
The Ripple price has been on a sharp decline since May 19, wherein it dropped from $1.46 to $0.62, flipping the 20-day, 50-day, and 200-day SMAs from support to resistance. Let’s take a closer look at technical analysis.
Ripple Price Remains Stuck In The Lower Bollinger Band
Since July 8, the Ripple price has been hovering horizontally between the 20-day SMA resistance and the $0.615 support wall. However, there are two positive signs for the bulls. Firstly, the MACD shows sustained bullish market momentum. Secondly, the Bollinger Band had started expanding to indicate increasing price volatility. Both these factors could combine to push XRP above the 20-day SMA.
Image: XRP/USD daily
In the 4-hour time frame, the Ripple Price has had a resurgence over the last four sessions and is on the verge of flashing two major buy signals.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
Our prediction for the Ripple price remains the same. Gain enough momentum to break above the 20-day SMA and touch the upper Bollinger Band (~$0.70).