Ripple price has been back up above the crucial level of $1.0000 since Friday. The easing of regulatory concerns has boosted the crypto market. Subsequently, the crypto fear & greed index has improved from last week’s fear level of 26 to the current neutral of 54.
Based on CoinMarketCap, the global crypto market cap has declined by 0.85% from the previous session. However, it is still above the significant level of $2 trillion at the actual $2.12 trillion. In comparison, Ripple’s market cap is down by 0.61% while its trading volume has dropped by 14.05% over the past 24 hours.
Ripple price prediction
XRP has eased on its decline from Sunday’s high of 1.0882. After dropping below the psychological level of 1.0000 two weeks ago, it has been trading steadily above that support zone since Friday.
At the time of writing, Ripple price was down by 4.39% at 1.0311. On a two-hour chart, it is trading between the 25 and 50-day exponential moving averages.
In the near term, I expect the cryptocurrency to record subtle price movements while remaining above the crucial support level of 1.0000. It will probably trade within a tight range of between 1.0176, which is along the 50-day EMA, and along the 25-day EMA at 1.0408. Above the horizontal channel’s upper border, it will likely hover around 1.0500 as it finds resistance at 1.0601.