Ripple Technical Analysis: XRP Recovers And Jumps Above $0.55
Daily Ripple XRP Price Analysis
- Between February 14 and 16, the Ripple price dropped from $0.63 to $0.51.
- 50-bar SMA provides resistance in the 4-hour chart.
The Ripple price dropped from $0.63 to $0.51 between February 14 and 16. Following that, XRP has improved to $0.555, breaking above the $0.55 psychological level. Let’s take a closer look with technical analysis.
Ripple Price Tries Recover Following Recent Dip
Over the last two days, the Ripple price has found support at the 20-bar SMA and bounced up to $0.555. The RSI is nowhere close to the overbought zone, which shows that XRP has room to grow till $0.60 before it gets overvalued.
Image: XRP/USD daily
Looking at the 4-hour Ripple price chart, we can see that XRP has managed to flip the 20-bar SMA from resistance to support. However, the latest candlestick has encountered resistance at the 50-bar SMA. If XRP manages to break above this level, they should be able to flip the parabolic SAR from bearish to bullish.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
As things stand, multiple signals have turned positive for Ripple. The bulls should now be able to push the Ripple price to $0.60.