Ripple Price Prediction: XRP Bulls Retrace From The $0.48 Level
Daily Ripple XRP Technical Analysis
- Ripple price has been trending relatively horizontally over the last six days.
- The Bollinger band suggests an upcoming rise in volatility.
Between 14 February and 26 February, the Ripple price dropped from $0.635 to $0.43. Following this drop, the price action for XRP has been pretty uninspiring as it trended horizontally for a bit around $0.44.
Ripple Price Volatility On The Rise?
The Ripple price tried to reach the $0.50 level today, but the buyers lost out of momentum at the $0.48 level and have since retraced to $0.46. The Bollinger Band had started expanding, which indicates that XRP is likely going to go through a period of higher volatility.
Image: XRP/USD daily
Now, is this volatility going to be positive or negative? Well, the MACD in the 4-hour Ripple price chart tells us that the volatility is likely going to be positive.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
The Ripple price will likely gain bullish momentum and at the 20-bar SMA in the 4-hour chart which coincides with the $0.48 line. Upon conquering this line, XRP will reach the $0.50.