Ripple Technical Analysis: XRP Buyers In Cruise Control; On The Verge Of Entering $0.75
Daily Ripple XRP Price Analysis
- Ripple price blocked on the upside by 200-day SMA.
- The MACD in the 4-hour chart indicates increasing bullish momentum.
Ripple price has been on a roll today, having jumped from $0.642 to $0.736 – crossing the $0.70 psychological level in the process. Prior to that, between July 5 and July 20, XRP fell from $0.695 to $0.533. Let’s see what happened after that when the bulls took control.
Ripple Price Must Overcome 200-day SMA
The Ripple price had seven bullish sessions out of the last eight days. During this run, XRP jumped from $0.53 to $0.73 – crossing the $0.60 and $0.70 psychological levels. The relative strength index (RSI) tells us that XRP could jump some more before getting overpriced. During this jump, XRP managed to:
- Flip the 20-day and 50-day SMAs from resistance to support.
- Reverse the parabolic SAR from negative to positive.
Image: XRP/USD daily
In the 4-hour time frame, the Ripple price has jumped from $0.64 to $0.73 over two bullish candlesticks. The MACD and Parabolic SAR tell us that the market in this timeframe is overwhelmingly bullish.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
Having crossed the $0.70 psychological level, the Ripple price must conquer the 200-day SMA ($0.765) to reach the $0.80 psychological level.