XRP has been rallying in price over the past two days, which is showing a significant sign of its uptrend. If the price declines below $0.3350 and pushes it towards $0.3250, the bears are likely to take control of the price while the bulls need to maintain above $0.3400 to propel the price further.
At the time of writing, XRP price is trading at the $0.3435 level. On the upside, the altcoin will test the key resistance levels at $0.3534 and $0.3580. A cross of the 50-days EMA through the 100-days EMA in an extended bullish move would support a run at $0.37
If the bulls fail to stay above the initial support of $0.3307, XRP/USDT could decline further towards the $0.2990 level.
XRP Ripple Trend Analysis
The RSI is at 47.58 and is trending towards the overbought zone, which shows that the bulls are in control. As of now, the bulls are in control but a sustainable move above $0.3400 is needed to continue the upward move. If the price dips below $0.3350, the bears will attempt to control the price.
MACD shows that the bullish momentum is slowly moving away as the MACD line nears crossing the signal line.
Bollinger Bands are currently leaning towards each other to show a bullish trend in the market.
Recently, XRP has been facing volatility in its market trend, but as we can see on the 4-hour time frame, it has found some stability above $0.3350. The rise and fall is due to the general market trend as all major altcoins are highly correlated with bitcoin.
XRP price has been under pressure recently as it declined below the $0.30 support level. However, the bulls are currently trying to push the price back up and if they can clear the $0.34 resistance level, they could do so.
Normally, XRP is experiencing a bullish trend in its market, but it is highly correlated with Bitcoin, so any major movement in Bitcoin will have a direct impact on the XRP price. So far, the bulls are in control, but they need to hold above $0.3400 for the upward move to continue. If the price dips below $0.3350, the bears will attempt to control the price.