Ripples (XRP) price doubled in less than 24 hours recently, and another rally is the likely scenario now. XRP/USD is predicted to rise further to $0.80, but that is not the end of the story for Ripple. We are likely to see a retracement towards $0.60 today, with the possibility of falling to the $0.50 range.

The Ripple price continues to show strong support at the $0.60 handle; however, the market is now set for a major retracement, as the XRP/USD pair looks set to fall to as little as $0.42.

While the cryptocurrency markets were doing well in the first few days of the year, things have changed entirely. In fact, even though XRP managed to make it to $0.80, it was the only coin that was able to hit that mark. On the other hand, Bitcoin (BTC) has been in a bear market since the start of 2018 and has been in a bear market for over a year now.. Read more about how much is xrp right now and let us know what you think.

TL;DR Summary

  • Yesterday, Ripple slipped away from the $0.70 support level.
  • Overnight, XRP continued to rise.
  • The next resistance level for XRP/USD is $0.80.

For the next 24 hours, Ripple price analysis is negative, as a fast rise upward pushed XRP to the next resistance level around $0.80. XRP/USD is now rejecting additional higher, suggesting that a reversal is likely later this weekend.

Ripple Price Analysis: XRP spikes to $0.80, set for a slow retracement today?Heat map of cryptocurrencies. Coin360 is the source of this information.

Over the past 24 hours, the cryptocurrency market has seen a significant increase. Bitcoin and Ethereum, the market leaders, are up 8.12 and 13.63 percent, respectively, while VeChain (VET) is one of the top performers.

The price of Ripple has risen to $0.80 in the past 24 hours.

Over the past 24 hours, XRP/USD has moved in a range of $0.724 to $0.7991, showing moderate volatility. The overall trading volume has risen by 40% to $3.2 billion. In the meanwhile, the entire market capitalization is approximately $36.6 billion, putting it in sixth position.

4-hour chart of XRP/USD: Is XRP about to retrace?

On the 4-hour chart, we can see the Ripple price rejecting additional higher after hitting resistance at $0.80, implying a reversal over the next 24 hours.

Ripple Price Analysis: XRP spikes to $0.80, set for a slow retracement today?4-hour chart of XRP/USD. TradingView is the source of this information.

Over the last week, the price of ripple has continued to rise to new highs. Since making a big swing upward low at $0.52, XRP/USD has rebounded more than 50% to the next key resistance level of $0.80.

We may infer that the general market trend is beginning to turn positive again after a several-month drop after the last major swing high of approximately $0.74 was broken. Being a result, XRP/USD is expected to hit new highs in the next weeks, with $0.90 as the next major price objective.

However, the price of Ripple has now stretched, necessitating yet another pullback to a higher bottom. After that, we expect XRP to surge higher next week and continue on its path to the previous all-time high.

Conclusion of the Ripple Price Analysis 

The next significant barrier at $0.80 has been hit, indicating that negative momentum will continue over the following 24 hours. As a result, we anticipate XRP/USD to retrace and make a new higher bottom around $0.74 before continuing upward.  

Read our articles on investing in PayPal Bitcoin, Bitcoin trusts, and Dogecoin as a smart investment while you wait for Ripple to go further.

Disclaimer: The material on this website is not intended to be trading advice, assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.

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