Ripple up nearly 9% this week: Where is XRP heading to?

Ripple price analysis for March 2 confirms that the token has turned bullish in the past seven days with a 9% surge. Moreover, it is also to be noted that the $0.8 price level has been strong resistance for the token, which it hasn’t reclaimed. On the other hand, the data from our XRP price analysis for March 1 confirms that the $1 price level is the dream of many investors that was last witnessed in November 2021. 

The data from CoinMarketCap shows that the trading volume of the Ripple token has dropped 10.71%, while the market cap of the token surged by 0.68% in the last 24 hours. Moreover, the Volume / Market Cap Ratio has a value of 0.07485, while the Market Dominance of the token fell to 1.90%.

The daily candle for Ripple opened at a price of $0.7840 and reached a daily high of $0.7848 which is now a major resistance for prices. Moreover, the daily low for the token stands at a price of $0.7645. Furthermore, at the time of writing, the price of 1 XRP has a value of $0.7785.

Ripple price analysis on the daily chart for March 2

Ripple price analysis for March 2 will be implemented using important indicators on the daily chart, which will further provide us a hint at future price trajectory.

Source: TradingView

Ripple RSI reads a value of 52.99 which means that the bulls are in charge, and there are higher chances of an increase in prices. 

The price action is testing the middle zone of the Bollinger Bands, which means that the movement depends on the chances of Ripple breaking into the bullish zone. 

The MACD line is touching the signal line and might break above it, confirming a bullish divergence.

Conclusion

Our Ripple price analysis for March 2 can be concluded on a bullish note for the token as indicators show higher chances of XRP breaking $0.8.