Ripple Price Analysis: Traders are buying XRP like crazy


Ripple XRP price is skyrocketing for the last couple of days. The price of XRP/USD at a press time $0.693614 USD and is up by around 11.30% from the last 24 hours. XRP is, as of now, at the 3rd number on CoinMarketCap in terms of market capitalization.

The market cap and 24 hours traded volume of XRP is $31454155234 USD and $26553918228 USD, respectively.

As flare network announces that it will distribute 100 billion Spark tokens to the XRP holders. So, in order to become eligible for the Spark token airdrop, all traders are buying XRP to meet the requirements.

Ripple XRP/USD Price Analysis

If we look at some of the popular technical indicators like the oscillators, moving averages, and pivots, then we can find that all are indicating a bullish signal for Ripple.

As of now, the daily Exponential Moving Averages (5, 10, 20, 30, 50, 100, 200) and daily Simple Moving Averages (5, 10, 20, 30, 50, 100, 200) all are in the massive buy zone.

The EMA (5, 10) and 0.58764 and 0.49016 respectively, while the SMA (5, 10) are 0.57963 and 0.44109 respectively. By looking at the above SMA and EMA, it can be concluded that all are in the buy zone.

The daily as such a Relative Strength Index (14) is 91.60879, which is between the buying and selling zone. The MACD Level (12, 26) is 0.09297, and Ultimate Oscillator (7, 14, and 28) is 76.80848. Both MACD and Ultimate Oscillator here are in the buy pressure zone.

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