Despite increased bearish sentiment in the cryptocurrency market, the Ripple price has displayed a positive price action by recording a constant uptrend in its price chart. Notably, it has successfully held its value above the support level of $0.560, highlighting increased bullish action.
Dive in as, in this article, we have covered the market sentiments, price action, and short-lived price targets of the Ripple crypto token.
Ripple Price Displays A Consolidated Price Action
With the rising volatility in the crypto market, the XRP price has recorded a jump of approximately 3% within the past day with a trading volume of $1.005 Billion, a change of 121.60%. Moreover, this altcoin has added 2.27% within the past week, and 6.78% over the past 30 days.
Furthermore, the altcoin has formed a triangle pattern in the 1D time frame and has continued to trade within it since the start of July. Moreover, it has formed a strong resistance zone above the $0.63 level. This indicates a strong selling pressure for the altcoin at that level.
XRP Crypto Market Sentiments
The RSI indicator has displayed a sharp rise in the XRP price chart after recording a neutral trend for a brief period. Further, the average trendline shows a similar price action, suggesting a bullish outlook in the coming time.
Further, the MACD records a constant decline in the red histogram with its averages showing a high possibility of a positive crossover in the 1D time frame. This indicates that the Ripple price will continue gaining value this week.
Will Ripple Go Up In Price?
If the market continues trading under a bullish sentiment, the XRP coin price will prepare to test its important resistance level of $0.63. Maintaining the price at that level will set the stage for this altcoin to head toward its upper high of $0.69 in the coming time.
Conversely, if the bears overpowered the bulls, the Ripple token will retest its support level of $0.560. Furthermore, if the bears continue to dominate the crypto space, the altcoin will plunge toward its lower support trendline of the triangle pattern.
