Weekly Chart of Ripple (XRP) Shows Potential to Go Bullish

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Weekly Chart of Ripple (XRP) Shows Potential to Go Bullish
  • XRP price prediction ranges from $0.3037 to $0.5807.
  • The price of the coin increased by 2.90% within 24 hours.
  • XRP’s bearish market price prediction is $0.3037.

Ripple, which promises to be a global payments network, is already used by several large banks and financial institutions. As a result, XRP is employed in its products to help with quick currency exchanges.

The weekly chart of XRP/USDT indicates that XRP has been showing significant pumps and dumps starting from April 05, 2022. Sellers eventually forced the price down after three weeks of swinging near resistance at $0.39-$0.41. If the buyers fail to defend the support level at $0.31-$0.28, a bearish structure will be formed.

Also if there is more buying pressure in the market and XRP breaks out of the current resistance level, we can foresee that XRP Price will be able to reach around $0.5807, and eventually it can move higher than $0.9287.

XRP/USDT 1-Hour Chart (Source: TradingView)

Looking at the 1-hour chart of XRP/USDT, Ripple is forming a bear flag inside the sideway market. As a continuation pattern, we can expect that the bear flag will assist the sellers to push the price movement downward. But we have to consider the fact that XRP is now above 200 MA, which indicates that buyers are starting to hodl XRP.

The relative strength index of XRP in 1-hour chat is 56.13. RSI above 50 indicates that people are buying XRP hoping that it will go break out of the bear flag and go bullish. If it doesn’t go bullish and the bears seize the throne, XRP can dump to $0.3037.

Currently, XRP is ranked in the 7th position in the CoinMarketCap. According to CoinMarketCap, XRP is now hovering at $0.3533 and has a price change of 1.52% increase within 24 hours. The trading volume of XRP in the past 24 hours is $1,189,096,240.96 which represents a 13.41% increase. The maximum supply of XRP is 100,000,000,000 XRP while its circulating supply is 49,537,223,666 XRP.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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