Ripple Price Analysis: XRP Price To Breakdown Or Breakout This Week?

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!

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