The post Ripple Price Analysis: XRP Price To Breakdown Or Breakout This Week? appeared first on Coinpedia Fintech News
Story Highlights
- The Ripple price stabilizes above the $1.4 mark, indicating strong support.
- The technical indicators record increased volatility and eyes to retest higher price targets.
- A potential reversal could push the price toward the $2 mark this year.
The XRP token has maintained its value above the psychological barrier of $1.4 this week. This suggests a strong buying point at that level. Further, with a market cap of $80.17 billion, the Ripple price is on the path of challenging Binance (BNB) for the 5th position in the market.
With the Ripple crypto recording a neutral price action since the week started, will this altcoin experience a bullish reversal and hit a new 52-week high? Or will it display a strong bearish pullback and retest its lower support levels?
XRP Coin Price Stabilizes Above The $1.4 Mark!
With an intraday jump of 5.46% and a trading volume of $7.830 billion, the Ripple price has reclaimed the $1.40 mark. Notably, this altcoin has soared over 25% in the last seven days and 171.91% this month alone.
The Relative Strength Index (RSI) continues hovering above the overbought range with its average trendline recording a similar price trend. This indicates a bullish outlook for the altcoin this week.
The Moving Average Convergence Divergence (MACD) shows a constant decline in the daily time frame, with its averages recording a similar price action in the XRP price chart. This suggests a mixed price sentiment for the 06th largest cryptocurrency.
Will XRP Price Hit $2 This Year?
Suppose, the bulls regain momentum, in that case, the Ripple price will retest its resistance level of $1.50 this week. Further, if the bullish sentiment intensifies, this could push the XRP crypto toward its upper resistance level of $1.75 in the upcoming time.
However, if the bears outrun the bulls, this altcoin could retest its support level of $1.250. Moreover, if the bulls fail to regain momentum at that point, this could result in it plunging toward its low of $1.00.
Curious to explore the multi-year price targets of the Ripple token? Read CoinPedia’s XRP Price Prediction and also subscribe to us to stay updated on the latest cryptocurrency news!
FAQs
For Ripple Price to achieve this price target, it will require a surge of 6,880.80% in its valuation.
If the bullish sentiment sustains, the XRP price may achieve the $5 mark by 2028.
With increased adoption and bullish action, the Ripple token could reach a maximum price of $8.36 in 2030.
