Ripple nears $0.9 resistance as market remains under bullish pressure

Ripple price analysis for March 29, 2022, confirms that the token is following a bullish trajectory for today as it has seen a price surge of 1.12% in the last 24 hours. It is also important to note that XRP is nearing the $0.9 price resistance which might become the ticket for its entry into the $1 price level, as noted in our XRP price analysis for March 28, 2022. 

The data from CoinMarketCap shows that the trading volume of Ripple has surged by 79.98% followed by a surge of 0.89% in the market cap. Moreover, the Market Dominance rests at 1.97% while the Volume / Market Cap Ratio stands at a value of 0.07425. 

The daily candle for the token opened at a price of $0.8640 and reached a daily high of $0.8845. Meanwhile, the daily low for the token stands at a price of $0.8620. At the time of writing, the price of 1 XRP stands at a price of $0.8843.

Ripple price analysis for March 29 on the daily chart

The Ripple price analysis for March 29 will take into account the readings from the daily chart which includes 3 major indicators on the daily chart.

Source: TradingViewThe RSI indicator shows a reading of 65.8 which means that we might see a surge in prices in the near future. The gradient of the line suggests that buying pressure is high.

The price action aims to break out from the upper end of the Bollinger Bands which, if successful, will result in Ripple breaking above the $1 price resistance. 

The MACD indicator shows that the MACD line and the signal line are very close and nearly parallel to each other as bulls remain in control of the price action. The MACD histogram is also bullishly filled with green bars.

Conclusion

Ripple price analysis for March 29, 2022, ends on a bullish note for the token as chances of XRP breaking above $1 are quite high.