Ripple on the verge of losing 6th position in the market: What to expect?

The Ripple price analysis for March 30, 2022, ends on a bullish note for the token as chances of breaking above $0.9 seem to be quite low.
The Ripple price analysis for March 30, 2022, ends on a bullish note for the token as chances of breaking above $0.9 seem to be quite low.

Ripple price analysis for March 30, 2022, confirms that the token has turned bullish following a surge in buying pressure, and chances of reclaiming the $0.9 price level seem quite low. Moreover, the XRP price analysis for March 29 noted that in order for XRP to reclaim the much-awaited $1 price level, it is imperative to break $0.9 which acts as a major hurdle to the price action. Furthermore, the prices dropped 1.15% in 24 hours.

The data from CoinMarketCap shows that the trading volume of Ripple has dropped by 29.81% followed by a drop of 1.58% in the market cap. Moreover, the Market Dominance dropped to 1.93% while the Volume / Market Cap Ratio stands at a value of 0.05121. 

The daily candle for the token opened at a price of $0.8576 and reached a daily high of $0.8671. Meanwhile, the daily low for the token stands at a price of $0.8455. At the time of writing, the price of 1 XRP stands at a price of $0.8631.

Ripple price analysis for March 30 on the daily chart

The Ripple price analysis for March 30 will take into account the data from the indicators that are embedded in the daily chart below.

Ripple price analysis
Source: TradingView

The RSI indicator shows a value of 62 which means that the bulls are in the driver’s seat for now as the RSI line continues to make higher highs for Ripple.

Moreover, the MACD indicator shows that the MACD line and the signal line are quite close to each other and if buying pressure doesn’t increase, we might see a bearish divergence for XRP.

The price action failed to break out of the upper end of the Bollinger Bands and investors can expect the token to retest lower levels if bulls don’t up to their game. 

Conclusion

The Ripple price analysis for March 30, 2022, ends on a bullish note for the token as chances of breaking above $0.9 seem to be quite low.

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