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XRP price recovers after dropping over 5 percent

  • XRP price recovers from 5 percent plunge below $0.23 support
  • Ripple (XRP) price movements over the last 24 hours appear bullish
  • Bulls seem to have appeared
  • XRP price currently trading at $0.2407 at press time

Ripple price prediction: today’s price overview

The Ripple price opened the day at $0.2327, which is also its lowest price as the bull’s kick-started a bullish uptrend. The price has since soared up and reached a peak price of $0.2407, where it is currently trading at. After closing the previous day in a bearish candle, XRP price is presently depicting signs of bullishness.

Ripple price 24-hour movement

XRP/USD Chart: Tradingview

Since hitting rock bottom at $0.2215 the previous day and losing about 5.3 percent in 7 days, XRP/USD has since recovered by over 5 percent and bounced back above the support near $0.23. Ripple XRP appears to be attempting to create a support base above this point, but the bears are yet to give up give in. 

The movements of the past $24 hours moved the XRP/USD pair from $0.23 to a daily high of $0.2407, representing $0.0107 gains. The above chart depicts bullish signs, and XRP price might be kick-starting a new bullish trend. Given the price of XRP is tied to BTC price, the recent bullish signals characterized by King crypto might have impacted Ripple’s price.

XRP/USD September chart

Ripple price prediction: XRP price recovers after dropping over 5 percent 2

XRP/USD 1-month chart: Trading view

Ripple XRP price has been on a bearish trajectory for the past 30 days, losing more than 10 percent of its value. In the past 7 before yesterday’s bounce, XRP lost about 5.5 percent. However, XRP seems to have formed support at $0.23 and ready to test the resistance at $0.24 again after failing yesterday. 

XRP 1-hour chart

Ripple price

XRP/USD 1-hour chart

We can see the bullish momentum being created after a long journey in a bear market in the above chart. The XRP/USD seems to be testing the selling pressure at $0.24 from where the price may move towards its early September high.

Ripple price prediction: Where is XRP heading?

One week ago, Ripple was in a very different situation compared to today. The bears were too strong for the bulls pushing the price more than 5 percent under. However, it now seems the bulls have enough power to push through after defending the $0.227 support. 

If the XRP bulls contain the selling pressure at $0.24, Ripple (XRP) price is destined to test $0.25. From here, Ripple targets its monthly-high price of $0.29 and above. 

On the other hand, failing to clear the resistance at $0.24 might be fatal. The price may fall towards the $0.22 critical support from where a bear market prevails. The next crucial support could be near $0.21, where buyers might emerge. 

Meanwhile, Ripple’s CEO, Chris Larsen, recently transferred 499,999,979 XRP tokens worth $115,847,49 at the time, triggering a whale alert. Has this massive transfer affected Ripple price? The amount represents about 10 percent of the entire Ripple XRP market capitalization. It is also worth noting that having been surpassed by Tether USDT, XRP is yet to claim its old position at number 3. Now that it has broken out of a multi-days and year bearish trend, what’s in store for Ripple XRP next?

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