Ripple (XRP) Stays Afloat, May Retrace Higher Price Mark

Azeez Mustapha

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Ripple’s price is attempting to advance towards a higher price mark after settling above the 0.4551 price level. Trading indicators are also biased in the upward direction. Let’s see how this may proceed as trading activities continue.

XRP Analysis Data
Ripple Value Now: $0.4640
Ripple Market Cap: $23,865,123,976
XRP Moving Supply: 51,873,152,538 XRP
XRP Total Supply: 99,988,934,739 XRP
Ripple CoinMarketCap Ranking: 6

Major Price Levels:
Top: $0.4640, $0.4700, and $0.4750
Base: $0.4600, $0.4550, and $0.4500

Ripple (XRP) Stays Afloat, May Retrace Higher Price Mark

Ripple (XRP) Is Attempting to Stick to Its Upside Path

In recent trading sessions on the XRP/USD daily chart, price action has retraced considerably upwards through the 0.4425 price level. However, the upside retracement met some headwinds in the previous trading session, and it pushed the price toward support at the 0.4551 price mark. Nevertheless, the ongoing session has witnessed some buying, which seems to have caused price action to regain its upside trajectory. The Moving Average Convergence Divergence indicator (MACD) bar has returned to its green appearance. Also, with the help of the last price candle here, prices have remained above the 9-day Moving Average curve. In addition, price action in this market seems to still be in the region of the Fibonacci Retracement levels, where upside retracement is still possible. Therefore, more upside retracement is possible.

Ripple (XRP) Stays Afloat, May Retrace Higher Price Mark

Ripple (XRP) Buyers Stay Dominant

On the Ripple four hour market, price action is reflecting that buyers are more dominant and look formidable in taking prices higher. The MACD indicator lines seem to be moving sideways now, trying to abort their downward path. Also, the bars of the MACD have started appearing pale red, indicating a subsiding headwind. In addition, it should be noted that price action is still above the 9-day MA. And this price action may have the right standing for a more upward retracement. However, it is safe to only anticipate a short-term retracement towards the $0.4700 price mark.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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