XRP Price Analysis for March 1

The correction might have ended on the cryptocurrency market, according to the CoinMarketCap ranking.

XRP/USD

The rate of XRP has risen by 0.67% over the last 24 hours.

On the hourly chart, the new month has started with the sharp growth of XRP, having formed the local support level at $0.3729. Currently, the price is located near the resistance, trying to fix above the $0.38 mark.

If buyers manage to do that, the breakout may lead to the test of the $0.3860 area shortly.

On the bigger time frame, the situation is also rather bullish than bearish, as the rate is slowly approaching the resistance at $0.3829. Thus, the volume is rising and confirming buyers’ interest. All in all, the more likely scenario is further growth to the zone of $0.39.

On the weekly chart, XRP has not accumulated enough power for a sharp move yet. Traders can think about midterm growth only if the price returns to the $0.40 zone and fixes above it.

XRP is trading at $0.3807 at press time.

Source