Price Analysis
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    Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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XRP Price Prediction: Ripple Finds Strong Support, Eyes To Hit $0.63?

Amid increased price volatility in the crypto market, the Ripple price has lost ~$800 million from its portfolio in the past 24 hours. Moreover, with a strong rejection, this altcoin has continued trading within the channel pattern since July.

With the current market sentiments, the hopes of investors on XRP price achieving the $1 mark have started to dilute. Moreover, with questions like โ€œWill XRP price ever rise up?โ€ and โ€œHow low will Ripple go?โ€, investors are uncertain about the token’s future prospects.

Ripple Token Records Increased Bearish Action

Despite recording a positive inflow after the launch of Grayscaleโ€™s XRP trust, this altcoin has faced rejection at its resistance trendline of the descending channel pattern in the 1D time frame. This highlights a strong bearish influence in the crypto space.

Notably, it has dropped 2.29% within the past day with a trading volume of $1.004 billion. Moreover, it has lost 2.20% during the past 30 days and has a Year-to-Date (YTD) return of -9.08%. 

XRP Technical Sentiments

The EMA 50-day acts as a support to the Ripple price chart in the 1D time frame. This indicates a rising bullish sentiment in the crypto space for the altcoin.

Further, the Moving Average Convergence Divergence (MACD) displays a constant green histogram with its averages showing a rising pattern. This indicates a bullish outlook for the XRP coin price in the coming time.

Is Ripple Price Going To Rise?

A bullish reversal could push the price toward its resistance trendline of the channel pattern. Moreover, a positive breakout could result in it heading toward its upper resistance level of $0.630 during the upcoming weeks.

On the flip side, if the bears continue to dominate the crypto space, this could pull the price of Ripple toward its support of $0.560. Further, if the bulls fail to regain momentum at that point, this could result in the XRP crypto plunging toward its lower support level of $0.480.

Curious about the long-term prospects of XRP? Our Ripple (XRP) Price Prediction solves all such doubts!

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