Following the SEC appeal, the XRP coin price had experienced a major price action. However, over the past few days, its price has stabilized to a notable extent.
With the volatility in the crypto market on a constant rise, is this a crucial time to hold XRP tokens? In this article, we have covered the market sentiments and potential price targets of the Ripple (XRP) token.
Ripple Price to Test It’s Important Zone!
The XRP coin prices have constantly traded in a narrow range between $0.52 and $0.54 this month. Moreover, it has dropped ~4% in the past day and 10.54% during the past month. With a market cap of $29.82 billion, it has maintained its 7th position in the market.
The EMA 50/200-day has displayed a constant decline in the 1D time frame. Furthermore, with a high possibility of a Death Cross, the XRP token hints at a negative outlook in the coming time.
Moreover, the RSI indicator has failed to breach its neutral point in the XRP price chart. This has resulted in it recording a drop toward its oversold range with its average trendline experiencing a bearish convergence.
Will the Bulls Push the XRP Price to $0.63?
If the bullish sentiment revives, the Ripple price will retest its resistance level of $0.560 this month. Moreover, if the bulls dominate the crypto market, the XRP token will head toward its upper resistance level of $0.630.
On the contrary, if the bears outrun the bulls, the Ripple crypto will break its support zone and retest its $0.50 level. Further, if the bulls fail to regain power at that level, this altcoin could potentially test its lower support level of $0.4880 this year.
Wondering if this altcoin will record a new ATH in the coming time? Read our Ripple (XRP) Price Prediction article to uncover the long-term price prospects!
