XRP Price Analysis: Are Bears Ready to Conquer the $0.15 Mark?

Can XRP continue the bull run next week as it has during the current one?

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The last day of the week started on a relatively positive note for the market as all of the Top 10 coins are in the green zone. The biggest winner is Binance Coin (BNB), which has skyrocketed up by 7.61% since yesterday.

Top 10 coins by Coinstats
Top 10 Coins by Coinstats

Over the course of the week, the cryptocurrency's market capitalization has added around $13B and is currently valued at $270.7B.

Market Capitalization
Market Capitalization

Below is the relevant data for XRP and how it's looking today:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $8,909,801,470

  • Price: $0.201316

  • Volume (24H): $831,771,500

  • Change (24H): 0.83%

XRP/USD: How Long Can Bulls Maintain the Rate Above $0.20?

Over the course of the week, XRP has performed better in terms of price as compared Bitcoin (BTC) and Ethereum (ETH). The rate for the altcoin has increased by 14%.

XRP/USD chart by TradingView
XRP/USD Chart by TradingView

Looking at the hourly chart, XRP is trading in between the $0.20 and $0.2040 range. At the moment, it is about to reach the $0.2040 resistance mark as buyers are becoming more active. Thus, there is a bullish divergence on the Relative Strength Index (RSI). The trading volume is also located at the relatively medium level. This is why traders might expect to see XRP at $0.2040 by the beginning of next week.

XRP/USD chart by TradingView
XRP/USD Chart by TradingView

Looking the 4H time frame, the bulls have not accumulated enough strength for a continued rise. The trading volume continues declining, which is not good for buyers. Moreover, the lines of the Moving Average Convergence/Divergence (MACD) are going down, which means that the decline might continue. In this particular case, the nearest support level is located at $0.1978, which may be attained next week.

XRP/USD chart by TradingView
XRP/USD Chart by TradingView

Looking at the bigger chart, XRP continues to receive support for resuming the rise; however, it is unlikely to happen as the trading volume remains relatively the same. The more likely scenario is that the growth will probably last until the coin reaches the $0.2151 mark. Besides, XRP's liquidity is low to continue the bullish wave.

At press time, XRP was trading at $0.2018.

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at [email protected]