Ripple Price Prediction for Today, March 12 – XRP Technical Analysis

The Ripple price prediction shows that XRP settles above the 9-day and 21-day moving averages as the coin heads to the upside.

Ripple CEO’s Statements Drive Price Movement

Monday witnessed an impressive surge for XRP, with an 18.74% increase. This reversal marked a significant turnaround from Sunday’s 1.92% loss, closing the session at $0.7228. Notably, this surge represents XRP’s most substantial single-session gain since July 13, 2023, fueled notably by the Programmatic Sales of XRP ruling, which contributed to a remarkable 73.39% rally.

Ripple Prediction Statistics Data:

• Ripple price now – $0.728
• Ripple market cap – $37.94 billion
• Ripple circulating supply – 54.7 billion
• Ripple total supply – 99.9 billion
• Ripple Coinmarketcap ranking – #6

XRP/USD Market

Key Levels:

Resistance levels: $0.800, $0.820, $0.840

Support levels: $0.540, $0.520, $0.500

XRP/USD spikes above the 9-day and 21-day moving averages as the coin moves to cross above the upper boundary of the channel. The cryptocurrency is trying to create a higher ground above the resistance level of $0.750, and should the buyers keep the coin above the moving averages, it may remain on the upside. Today, an early trading session made the Ripple price touch the $0.748 level before rebounding to where it is trading currently at $0.728.

Ripple Price Prediction: Would Ripple Create Additional Gain?

The Ripple price may stay above the moving averages and if the resistance of $0.750 gives way, the bull run may come to focus, and the coin may create an additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see another rise in the market price. Therefore, if the coin crosses above the channel, it could further strengthen the market to the resistance levels of $0.800, $0.820, and $0.840 respectively.

Nonetheless, a lower possible swing may likely retest the previous support below the 9-day moving average. However, if the sellers manage to fuel the market, traders may expect a further drop to the support levels of $0.540, $0.520, and $0.500 respectively. On the other hand, the 9-day moving average is above the 21-day moving average, indicating that the market may retain the bullish trend.

XRP/BTC Goes Bullishly

Against Bitcoin, the Ripple price remains above the 9-day and 21-day moving averages in other to reach the resistance level of 1100 SAT. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.

On the other hand, if XRP/BTC slides below the moving averages, it could refresh lows under 850 SAT and any bearish continuation may likely meet the major support at 800 SAT and below. But, if the coin spikes above the upper boundary of the channel, it could hit the potential resistance at 1100 SAT and above. However, the 9-day MA keeps hovering below the 21-day MA, indicating that the market may give bearish signals.

Additionally, DustyBC Crypto shared an analysis with his extensive following of 154.3k on X (Formerly Twitter), highlighting the breakthrough of $XRP from a downtrend spanning over 6.5 years.

$XRP BREAKING OUT OF THE 6.5 YEAR DOWNTREND! pic.twitter.com/3Ki5mN06v4

— DustyBC Crypto (@TheDustyBC) March 11, 2024

Ripple Alternatives

At present, Ripple’s price may rise above $0.748 with increased bullish pressure, while a dip below the 9-day MA could signal downside risk to $0.600 support. Traders should watch for a breakout above $0.750 for a new bullish trend. On that note, Ripple (XRP) is expected to show stable gains due to its established status with a market cap of $37.94 billion, while Bitcoin Minetrix (BTCMTX) presents higher-risk, higher-reward potential in its presale, with nearly $12.2 million raised indicating growing interest and significant upside.

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