Ripple outperforms the market with 6% price surge: What’s next?

Ripple price analysis for April 15, 2022, shows that the token has turned bullish following a surge in bullish volume and we have seen a rise of 6% in the last 24 hours in prices. Furthermore, the token is currently aiming to break above the $0.8 price region as well with bulls currently taking charge of the bears. As noted in our XRP price analysis for April 15, 2022, the token has strong support at $0.7 while the bulls currently aim for higher levels. 

The data from CoinMarketCap shows that the trading volume of Ripple has surged by 26.25%, followed by a surge of nearly 6.48% in the market cap. Moreover, the Market Dominance rose to 2.01%, while the Volume / Market Cap Ratio stands at a value of 0.05787. 

The daily candle for the token opened at a price of $0.7262 and reached a daily high of $0.7940. Meanwhile, the daily low for the token stands at a price of $0.7261. At the time of writing, the price of 1 XRP stands at a price of $0.7862.

Ripple price analysis for April 15 on the daily chart

The Ripple price analysis for April 15 will take into account the data from the daily chart below which consists of 3 major indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are moving closer to each other as the chances of higher prices seem considerable. 

The RSI indicator reads a value above 51 which means that the bulls have taken control of the price action and we can expect Ripple to make higher highs in the coming days. The gradient for today suggests that higher prices might be seen.

The price action is retesting the middle zone of the Bollinger Bands which confirms that higher prices might follow if the breakout is successful. 

Conclusion

Ripple price analysis for April 15, 2022, ends on a bearish note for the token as chances of breaking $0.8 remain low.