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Ripple Price Analysis: XRP/USD looks bullish ahead of Flare Network’s airdrop

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4 years ago

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Ripple XRP Price Prediction and Technical Analysis
  • XRP/USD currently trading at $0.69 USD at press time.
  • XRP price is skyrocketing due as traders are buying in order to qualify for the 100 billion Spark tokens airdrop.
  • Ripple’s XRP currently have a market cap of $31 USD billion.

Ripple’s XRP price is skyrocketing from last few days. The price of XRP/USD at press time $0.693614 USD and is up by 11.30% from last 24h. XRP is currently at the 3rd number on CoinMarketCap in terms of market capitalization.

The market cap and 24 hours traded volume of XRP are $31,454,155,234 USD and $26,553,918,228 USD respectively.

As Flare Network announces that it will distribute 100 billion Spark tokens to the XRP holders. So in order to become eligible for the Spark token airdrop all traders are buying XRP to meet the requirements.

XRP/USD Price Analysis

If we look at the popular technical indicators like moving averages, oscillators and pivots then we can find that all are indicating a bullish signal for XRP.

The daily Exponential Moving Averages (5, 10, 20, 30, 50, 100, 200) and daily Simple Moving Averages (5, 10, 20, 30, 50, 100, 200) all are in the massive buy zone.

XRP Pivot Points by TradingView
XRP/USD Pivot Points by TradingView

The EMA (5, 10) are 0.58764 and 0.49016 respectively while the SMA (5, 10) are 0.57963 and 0.44109 respectively. By looking at the above EMA and SMA it can be concluded that all are in the buy zone.

The daily Relative Strength Index (14) is 91.60879 which is between the buying and selling zone. The MACD Level (12, 26) is 0.09297 and Ultimate Oscillator (7, 14, 28) is 76.80848. Both MACD and Ultimate Oscillator here are in the buy pressure zone.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.