Price Analysis: Ripple (XRP)

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The BTC ETF approval would further send Bitcoin charging toward a new all-time high and several altcoins are likely to start breaking out of bullish setups.

RIPPLE(XRP)

Ripple has moved past the $1 dollars price mark, after the major market dip, as we are currently in a bullish run for crypto assets for a few weeks now.

However, using technical analysis the price of the digital asset has been on a downward move for the past two(2) days as the price is looking to consolidate at the $1.054 and $1.103 level after its bullish run.

The price level seems to have broken below the 50 simple moving average(SMA) indicator and is trading just above the 200 (EMA) level which gives us angles to the future price movement.

First possibility

If the price breaks below the 200 EMA and gets to the $1.00 level it means there would be a further drop in price to the previous resistance level at $0.88 which seems to be an almost impossible occurrence due to the current crypto market bullish run.

Second Possibility

If the price breaks back above the 50 moving average and gets to the $1.1938 price level an upward movement is most likely to continue till the $1.23 price level, before there might be another slow down in the price of the digital asset.

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