XRP Price To Breakdown Or Breakout This Week?
Story Highlights
- Ripple price stabilizes above the $1.4 mark, indicating strong support.
- Technical indicators point to increased volatility and a retest of higher price targets.
- A potential reversal could push prices toward the $2 mark this year.
This week, the value of the XRP token remained above the psychological $1.4 mark. This suggests a strong buy point exists at this level. Additionally, Ripple, with a market capitalization of $80.17 billion, is challenging Binance (BNB) for the fifth position in the market.
With the Ripple cryptocurrency showing neutral price action since the start of the week, will the altcoin experience a bullish reversal and hit a new 52-week high? Or will it exhibit a strong bearish pullback and retest its lower support?
XRP coin price stabilizes above $1.4!
Ripple price rose 5.46% intraday, with trading volume reaching $7.830 billion, returning to the $1.40 mark. Notably, this altcoin has surged more than 25% in the past seven days, and has surged 171.91% this month alone.
The Relative Strength Index (RSI) continues to hover above overbought territory, with its average trendline recording similar price trends. This points to a bullish outlook for altcoins this week.
The Moving Average Convergence Divergence (MACD) is showing a declining trend on the daily timeframe, with its average recording similar price action on the XRP price chart. This suggests mixed price sentiment for the sixth-largest cryptocurrency.
Will XRP price hit $2 this year?
Assuming the bulls regain momentum, in which case Ripple price will retest the $1.50 resistance this week. Furthermore, if bullish sentiment intensifies, this could push the XRP cryptocurrency towards its cap resistance at $1.75 in the coming period.
However, if the bears prevail over the bulls, the altcoin may retest the $1.250 support. Furthermore, if the bulls fail to regain momentum at this point, it could lead to a drop towards the $1.00 lows.
Want to explore multi-year price targets for the Ripple coin? Read CoinPedia’s XRP Price Prediction And subscribe to us to stay up to date with the latest cryptocurrency news!
FAQ
For Ripple Price to achieve this price target, its valuation would need to surge by 6,880.80%.
If the bullish sentiment continues, XRP price may reach the $5 mark in 2028.
With increasing adoption and bullish action, the Ripple coin may reach a maximum price of $8.36 in 2030.
