Ripple price analysis: XRP up 8.6%, nearing $0.7


🚀 Stay Ahead with! 🌐

Ripple price analysis can be concluded on a bullish note for February 5 as the token has surged nearly 9% in the last 24 hours. Furthermore, the previous support of $0.6 has been reclaimed, and now, the token is aiming to break into the $0.7 price level. It is also important to note that the firm behind the XRP token, Ripple, is now worth $15 billion.

The previous Ripple price analysis for February 2, 2022, shows that the $0.6 price level is now important price support. Moreover, the popularity of Ripple has resulted in a partnership with Palau which resulted in the development of a digital currency for the country. Meanwhile, Ripple is making optimistic progress in its case with the SEC, the CEO of Ripple Labs Inc. said in a recent report. 

As per our Ripple price analysis, the data from CoinMarketCap shows a 90.54% surge in the trading volume followed by an 8.31% surge in the market cap. The current rank of the XRP token is 8th in the market. Moreover, the market dominance of the token is 1.69%. Furthermore, the Qatar National Bank (QNB) is also partnering with Ripple for cross-border payments.

  🌟 Unlock Crypto Insights with! 💰

Ripple price analysis on the daily chart

Ripple price analysis on the daily chart below shows that the Accumulation/Distribution Line is making higher highs. The accumulation of XRP is rising, and it seems that in 2022, XRP might take a shot at the all-time high of 3.84 USD.

Ripple price analysis

Source: TradingView

The daily chart below shows that the MACD line (blue) broke above the signal line (orange), which confirms a bullish divergence. This means that the buying pressure is increasing for XRP.

Ripple price analysis

Source: TradingView


The Ripple price analysis for February 5 concludes on a bullish note. It is also to be noted that Ripple is one of the top 10 biggest fintech companies, and the future of the digital payments firm is definitely bright. 

 🦂 is your trusted source for the latest in crypto news and insights. 🚀

 🔍 Your Crypto News Hub:! 🌐

Bitfarms' lead director Brian Howlett announced that Bitfarms has adopted a..

HSBC clarified that it would continue to accept payments from crypto..

Roma secures Virtual Assets Service Provider License from Dubai VARA

ads-image ads-image