Ripple price is trading steadily above the crucial level of $1.500. for as long as the altcoin remains above this level, the bulls are still in control. According to CoinMarketCap, its trading volume has dropped by 5.33% over the past 24 hours. However, this timeframe, its market cap has risen by 3.54%.
Ripple price prediction
XRP has remained above the key resistance-turn-support level of 1.1500 despite the ongoing volatility. Notably, the zone has been a crucial one for the cryptocurrency since early April. In the past week, it plunged from a two-month high at 1.3469. Subsequently, it dropped below the aforementioned support momentarily before bouncing back.
Currently, Ripple price is up by 1.68% at 1.2001. It has managed to move above 1.2000 in Monday’s session after finding resistance at that level over the weekend.
On a three-hour chart, the altcoin is trading along the along the 50-day EMA and slightly above the 25-day EMA with an RSI of 51. At its current level, the outlook is rather neutral. However, I hold a bullish bias.
In the short term, I expect Ripple price to remain above the crucial support level of 1.1500. It will likely hover around 1.2000 as the bulls gather enough momentum to push it further. On the upside, 1.2498 will probably be its resistance zone. On the lower end, it may find support at 1.1537.