Ripple breaks the $40 billion market cap mark: Retains 6th position

Ripple price analysis for March 25, 2022, confirms that the XRP token remains bullish but has found resistance around the $0.85 price region which the bulls haven’t been able to break above. It is also important to note that the token has remained stuck between $0.83 and $0.85 support and resistance respectively in our XRP price analysis for March 24, 2022, as well. However, a good piece of news for investors is that the token has broken the $40 billion market cap mark. 

The data from CoinMarketCap shows that the trading volume of Ripple has dropped by 4.26% followed by a surge of 0.24% in the market cap. Moreover, the Market Dominance dropped to 2.02% while the Volume / Market Cap Ratio stands at a value of 0.05133. 

The daily candle for the token opened at a price of $0.8426 and reached a daily high of $0.8459. Meanwhile, the daily low for the token stands at a price of $0.8368. At the time of writing, the price of 1 XRP stands at a price of $0.8391.

Ripple price analysis for March 25 on the daily chart

The Ripple price analysis for March 25 will include the readings from 3 of the biggest indicators in the crypto space on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line is above the signal line which means that the chances of breaking above $0.85 resistance are pretty high. The MACD histogram is also bullish. 

The RSI indicator reads a value above 59 which means that the bulls are in control of the price action and the sellers are being dominated by the buyers. The gradient of the line suggests that prices will try to consolidate above $0.83 today.

The price action for Ripple aims to breach the upper end of the Bollinger Bands but hasn’t been successful in the same for now. 

Conclusion

The Ripple price analysis for March 25 ends on a bullish note for the token as indicators suggest that chances of breaking $0.85 are very high.