🚀 Crypto Ripple Price Analysis: XRP Soars 8% This Week, Are the Bulls Back in Town?

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Ripple’s price is yet to show a significant move in either direction. Both the USDT and BTC pairs have been in a consolidation phase. Yet, things might be about to change soon.

However, it’s important to note that XRP increased by around 8% in the past seven days, and it’s worth exploring whether the bulls are back in town.

Technical Analysis​

By TradingRage

The USDT Paired Chart​

On the daily timeframe USDT pair, the price has been moving rangebound around the $0.6 support level. The 200-day moving average, located around the $0.57 mark, has recently pushed the price higher once more.

If the moving average holds, the price will likely rise toward $0.7 in the coming weeks. A breakout above the $0.7 resistance zone could finally begin a new bull market for XRP.


Source: TradingView

The BTC Paired Chart​

Looking at the daily chart of the XRP/BTC pair, the price is still trending lower. The market is currently consolidating around the 800 SAT support zone. If the level holds, XRP could finally break the long-term bearish trendline to the upside.

This potential breakout could be the first hint at a new bullish phase for XRP. Yet, with the market still consolidating, it is not clear whether this scenario will materialize in the following weeks.


Source: TradingView

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