Ripple nears $0.77 as bulls take over the price action

Ripple aims for the $0.8 price zone which it lost a number of days ago. The XRP price analysis for April 19, 2022, comes on a slightly bullish note for the token which is now nearing the $0.77 price zone and if this turns into a support region for the bulls, we can expect XRP to move higher up the ladder and challenge the $1 price region in the coming weeks as well. However, we recently witnessed XRP drop below the $0.75 minor support which triggered the current rebound, as per our XRP price analysis for April 18, 2022.

The data from CoinMarketCap shows that the trading volume of Ripple has surged by 40.29%, followed by a surge of nearly 1.19% in the market cap. Moreover, the Market Dominance jumped to 1.96%, while the Volume / Market Cap Ratio stands at a value of 0.05663. 

The daily candle for the token opened at a price of $0.7698 and reached a daily high of $0.7766. Meanwhile, the daily low for the token stands at a price of $0.7669. At the time of writing, the price of 1 XRP stands at a price of $0.7696.

Ripple price analysis for April 19 on the daily chart

The Ripple price analysis for April 19 will take into consideration the data from the indicators below which will help us paint the picture of the future price trajectory for XRP.

Source: TradingView

The RSI indicator reads below 49 which confirms that the bears are currently dominating the price action for Ripple. 

The MACD indicator shows that the MACD line has broken above the signal line confirming a bullish divergence for XRP. 

The price action for XRP is retesting the middle zone of the Bollinger Bands and a successful breakout will yield higher prices.

Conclusion

Ripple price analysis for April 20, 2022, ends on a slightly bullish note for XRP as indicators are gradually turning bullish and higher prices might follow in the coming days.