Ripple nears $0.8: Buy now and HODL XRP for $1?

Ripple price analysis for March 1 confirms that the token has turned bullish in the last 24 hours as the entire crypto space has seen a green 24 hours. It is also important to note that XRP reclaimed the important price level of $0.7, as seen in our Ripple price analysis for February 28, 2022. Investors can expect the bullishness to continue as major resistance for the token is present at $0.8-$0.9.

The data from CoinMarketCap shows that the trading volume of the Ripple token has surged 13.61%, while the market cap of the token surged by more than 7.40% in the last 24 hours. Moreover, the Volume / Market Cap Ratio has a value of 0.08415, while the Market Dominance of the token rests at 1.94%.

The daily candle for Ripple opened at a price of $0.78 and reached a daily high of $0.789 which is now a major resistance for prices. Moreover, the daily low for the token stands at a price of $0.7641. Furthermore, at the time of writing, the price of 1 XRP has a value of $0.7734.

Ripple price analysis on the daily chart for March 1

Ripple price analysis for March 1 will be implemented using important indicators on the daily chart, which will give us a clue at the future potential movements.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other, which means that a bullish divergence is possible. 

The RSI line reads a value above 52 which means that the bulls are in charge. The gradient of the line is slightly negative for today.

The price action aims to retest the middle zone of the Bollinger Bands, and if the bulls are successful in breaking above this zone, Ripple will enter $0.8.

Conclusion

The indicators from our Ripple price analysis for March 1 show mixed signals for the XRP token, which means that chances of breaking $0.8 are not very high.