Ripple price analysis: XRP likely to retest the $1.20 level

TL;DR Breakdown Ripple price analysis reveals that the altcoin is gearing to retest the $1.20 level.Current support is found at the $1.15 mark.Current resistance is found at the $1.17 mark. Ripple price analysis reveals that the altcoin is readying up to retest the $1.20 level. However, the altcoin is moving independently of the current market trend set by the king Bitcoin and the queen Ethereum. The altcoin is down by 3.3 percent in the past 24-hours and by 5.39 percent in the past seven days. The altcoin is, however, moving into a small reverse head and shoulder momentum at the type of writing. Let’s take a look at the Ripple price analysis through candlestick charts. XRP/USD 1-day chart shows bullish momentum brewing The one-day Ripple price analysis candlestick chart reveals that the altcoin is priming for bullish momentum to retest the $1.20 high. The volatility is decreasing at the time of writing compared to the past few days. The upper Bollinger band is found at the $1.36 mark, serving as the strongest resistance. The nine-day moving average is also serving as strong resistance at the $1.175 mark, showing a bearish crossover at the time of writing. XRP/USD price 1-day candlestick chart. Source: Trading View Whereas the lower Bollinger band is found at the $0.932 mark, serving as the strongest support point. The Bollinger bands’ average is at $1.14, serving as the strong support at the time of writing. The...