Ripple finds resistance $0.83: Will XRP reach $1 soon?

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Ripple price analysis for Feb 15, 2022, can be concluded on a bullish note for the day with a 3% price surge in the last 24 hours. Moreover, the current market rank of the token stands at 6. It is important to note that the token initiated the month of February on a bullish note and outperformed many altcoins, as seen in our XRP price analysis for Feb 7, 2022.

The data from CoinMarketCap shows that the trading volume of the token dropped 4.13% in the last 24 hours, followed by a 3.79% surge in the market cap. Moreover, the Volume / Market Cap Ratio of the token currently stands at 0.0625 while the Market Dominance stands at 2.03%.

The daily candle for Ripple opened at a price of $0.8012 and reached a daily high of $0.84. Moreover, the daily low for the token stands at $0.79. It is also important to note that at the time of writing, the price of 1 XRP is $0.8221.

Ripple price analysis on the daily chart

Ripple price analysis on the daily chart shows that the RSI line for the XRP token continues on the path to making higher highs, and the gradient of the line is positive, which means that higher prices are in store for the token.

Ripple price analysis

Source: TradingView

The Bollinger Bands on the chart below show that the price action once again attempts to break out of the upper end of the Bands. If successful, we might see XRP make a move towards $1.

Ripple price analysis

Source: TradingView

The MACD indicator on the chart below shows that the MACD line (blue) continues to progress above the signal line (orange), which means that the token will see higher prices in the near future.

Ripple price analysis

Source: TradingView

Conclusion

Ripple price analysis for Feb 15, 2022, can be concluded on a bullish note for the token. The nearest resistance of the token stands at $1, and it seems that XRP might see a very bullish 2022.

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