Ripple jumps 3% in 24 hours as buying pressure surges

Ripple price analysis for March 28, 2022, confirms that the chances of XRP breaking into the $0.9 price level seem quite high as the buying pressure has surged following the onset of bulls in the crypto market. It is also important to note that the XRP token has broken past the $0.85 price region and TheCoinRise expect’s the prices to hold above this region. As noted in our XRP analysis for March 25, the token has also reclaimed the $40 billion mark.

The data from CoinMarketCap shows that the trading volume of Ripple has surged by 44.57% followed by a surge of 3.89% in the market cap. Moreover, the Market Dominance dropped to 1.98% while the Volume / Market Cap Ratio stands at a value of 0.04025. 

The daily candle for the token opened at a price of $0.8579 and reached a daily high of $0.8729. Meanwhile, the daily low for the token stands at a price of $0.8535. At the time of writing, the price of 1 XRP stands at a price of $0.8667.

Ripple price analysis for March 28 on the daily chart

The Ripple price analysis for March 28 will include the readings from few of the most important indicators in the crypto space integrated into the chart below. 

Source: TradingView

The RSI indicator reads a value of 63.28 which means that the bulls are in charge and the gradient of the line suggests that higher prices are possible in the near future.

The MACD indicator shows that the MACD line and the signal line are very far apart from each other as chances of Ripple breaking into $0.9 are very high.

The price action is testing the upper end of the Bollinger Bands which means investors can expect a breakout in prices soon.

Conclusion

Ripple price analysis for March 28, 2022, ends on a bullish note for the token as chances of XPR reaching $1 are high.