The cryptocurrency market continues to display significant price volatility with top altcoins recording constant fluctuations, indicating increased buying and selling pressure in the crypto space. Moreover, with the rising hype of altcoins, the market is on the verge of experiencing an AltSeason soon.
However, despite a bullish cloud over the crypto space post-approval of the spot Ethereum ETF, Ripple Lab’s XRP coin price continues to display a neutral trend, highlighting a disinterest among investors in this altcoin.
With this, the investors are concerned about their investments in this crypto coin, and questions like “Will XRP ever go up in price?” and “Will XRP price reach $1?” are experiencing increased search volume daily.
Dive in as, in this article, we have covered the short-term price analysis and targets for the Ripple (XRP) price.
The Ripple price continues to display a weak price action by recording a correction of approximately 1% within the past day and 2.46% over the past seven days. Moreover, the Year-to-Date (YTD) return of XRP crypto stands at -14.76%, suggesting a long-term bearish sentiment in the crypto space.
Furthermore, the Ripple coin price has repeatedly failed to surpass its resistance zone, resulting in the altcoin trading in a consolidated range between $0.480 and $0.55 from the past month.
The Cross EMA 50-day acts as a resistance to the price chart, indicating a mixed sentiment in the cryptocurrency market.
On the other hand, the MACD displays a constant decline in the green histogram with its averages hinting at a high possibility of a bearish crossover, suggesting a negative outlook for the XRP price in the coming time.
If the market pushes the price above the $0.5340 mark, the bulls will regain momentum and test its support/resistance zone. Furthermore, a breakout could result in the XRP token heading toward its upper resistance level of $0.65 in the coming time.
Conversely, if the bulls fail to regain momentum, the Ripple token will plunge toward its crucial support level of $0.480 during the upcoming weeks.
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