Price Analysis View Non-AMP

XRP Price Analysis: Is XRP On A Path To Extreme Correction?

Published by
Zameer Attar

Despite Jerome Powell’s statement concerning the US economy and recession, Bitcoin and Ethereum face difficulty stabilizing their prices. Still, the market is on the path to regaining stability as the crypto space has started moving sideways. Ripple’s XRP coin, on the other hand, has turned out to be the top performer of the elite group by gaining over 5% in value within a week.

After experiencing the death cross in August, the price experienced a massive plunge in its value, following which the coin started trading under the influence of a descending trendline. Further, the XRP coin traded in the consolidated range, after which Ripple experienced another price correction, breaking down its support line.

The coin formed another consolidated range of $0.5130 as its resistance and $0.4913 as support and traded in it for the first half of September. Following the massive price volatility in the market due to Bitcoin, XRP broke its support level.

After testing the crucial support level of $0.4685, the coin gained momentum and quickly broke multiple resistance levels of $0.4913 and $0.5130 within a week. The chart now displays a rising channel, indicating the price may rise further in the coming days.

The RSI has continued to trade above its midpoint for over a week now, indicating strong buying power. Further, the averages display a decline in their trend, indicating a possibility of price volatility in the coming days.

On the other hand, MACD displays constant flatlines in its chart. Further, the indicator displays a bearish convergence in its average lines, indicating the possibility of the XRP coin experiencing a correction in its price soon.

Will XRP Price Reach Its Resistance Level?

If the bulls continue to gain power and cross the resistance level of $0.5337, the coin will experience a bullish moment in its price. Further, if the bulls manage to hold the price at that level, the coin will prepare to test the upper resistance of $0.60 in the coming days.

On the flip side, if the price fails to hold its support level of $0.5130, the coin may experience a bearish move in its price. Further, if the bears gain power, the price will prepare to test the support level of $0.4913 by the end of the month.

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Recent Posts

Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1?

Story Highlights The price of Dogecoin today is . Dogecoin price may reach a maximum…

April 4, 2025

Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2?

Story Highlights The live price of the Cardano token is . ADA coin price could…

April 4, 2025

Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next?

Story Highlights Solana Price Today is . Solana price could reach a potential high of…

April 4, 2025

Still Under $0.03, MUTM Is Being Touted as One of the Best Low-Cost Cryptos to Buy Right Now

With crypto markets slowly regaining momentum in 2025, investors are on the lookout for promising…

April 4, 2025

Pi Network Panic: Can a Coinbase Listing Save PI Coin from More Losses?

The Pi Network, with a community of 60 million users, is in massive panic as…

April 4, 2025

Binance Coin Price Prediction 2025, 2026 – 2030: Will BNB Hit $1000?

Story Highlights Binance Coin Price Today is . The BNB price prediction anticipates a potential…

April 4, 2025