Ripple Price Prediction: XRP Aims For $0.60 Psychological Level
Daily Ripple XRP Technical Analysis
- The MACD in the 4-hour Ripple price chart shows increasing bullish momentum.
- The RSI is about to creep into the overbought zone.
Following a dip from $0.49 to $0.37, the Ripple price has rallied and jumped from $0.37 to $0.526 since February 2. As things stand, the bulls are rallying XRP and pushing it towards the $0.60 psychological line.
Ripple Price Crosses $0.50-level
Ripple price is under bullish control over the last three days. However, the price reached an intraday low of $0.36 this Monday, which reversed the parabolic SAR from bearish to bullish. Despite this signal, the buyers appear to be in complete control. Plus, the relative strength index has still not crept into the overbought zone, which tells us that XRP price has more room for growth.
Image: XRP/USD daily
The 4-hour Ripple price chart is trending in an upward channel formation, while the MACD shows sustained bullish momentum. Both of these are positive signs for XRP.
Image: XRP/USD 4-hour
230 Million XRP Shifted by Whales. RippleNet Client Launches New Remittance Service
A whopping 230 million XRP tokens ($103,144,654) have been transferred over the span of 15 hours recently, according to crypto tracking platform Whale Alert. The tokens were wired in two major transactions. Analytics website Bithomp said that both the transactions were conducted by Coinbase, the largest crypto exchange in the US.
The US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple for selling XRP as unregistered securities in December. The regulator has also accused Coinbase of charging commission fees on XRP sales. According to the recently released Q4 2020 XRP markets report, Coinbase customers can still use their XRP wallets to transfer and store their coins. It is only XRP trading that has been suspended.
Meanwhile, digital asset payment platform Azimo has partnered with the biggest commercial bank in Pakistan, HBL to launch a new digital money transfer solution. Azimo is a client of RippleNet. The new product will enable Pakistani citizens who live abroad to send cash back to Pakistan seamlessly and cheaply.
Ripple Price Is Expected To Reach These Levels
As things stand, the Ripple price is trying to aim for the $0.60 resistance barrier. Now the buyers have to make sure that XRP somehow manages to break past this zone.