The post Ripple Price Analysis: XRP Price Waves Pattern Hints A $1 Retest? appeared first on Coinpedia Fintech News
Story Highlights
- Ripple price achieves a new yearly high at $0.7354.
- 24-hour volume record 20.86% jump, comes close to $10 billion.
- XRP price reclaims its 07th position in the global crypto market.
By achieving a new 52-week high, the Ripple price has displayed a strong bullish price action over the past few days. Notably, this altcoin has achieved a new high of $0.7354 pushing its value closer to its target price of $1.
However, with the recent price pullback, is the XRP price preparing itself to record a multi-level breakout? Or is this a sign of a bearish reversal? In this article, we have uncovered the possibilities of this altcoin.
XRP Token Records A New Yearly High!
With a jump of ~2% in the past 24 hours, the Ripple price has defied the market odds by recording a bullish price action. However, the altcoin has dropped 9.74% over the past few hours, highlighting an increase in the price action.
Positively, this altcoin has surged 24.14% over the past week and 22.36% during the past 30 days. With a market capitalization of $37.541 billion, it has reclaimed the 7th position by surpassing “USDC” which has a market cap of $36.508 billion.
Ripple Technical Sentiments
The EMA 50/200-day shows a Golden Cross in the 1D time frame. This shows that the altcoin may experience significant growth during the upcoming time.
Further, the RSI indicator continues trading above the overbought range in the XRP price chart. This suggests an increase in the buying-over-selling pressure for the altcoin in the crypto space.
Will XRP Price Retest $0.75 This Week?
Maintaining the price above the resistance level of $0.690 could result in the Ripple price retesting its upper target price of $0.7450. Furthermore, if the bullish sentiment sustains, this altcoin could head toward its resistance level of $0.80 this month.
On the contrary, if a bearish reversal occurs, the Ripple token may retest its support level of $0.630. Moreover, if the bears continue to maintain their dominance, this could result in it testing its lower support level of $0.560.
Planning on investing in this altcoin before it achieves the $1 mark, Read our XRP Price Prediction to understand the long-term possibilities!
FAQs
With a potential surge, this crypto token may achieve a high of $1.36 during 2025.
At this point, the XRP token is highly volatile, making it a risky investment.
With increasing bullish sentiment, this altcoin may head toward a new yearly high soon.
