Convergence

Rise

Divergence

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/xrp-price-volatility-to-new-highs-can-ripple-price-still-breach-1-this-year/">XRP Price Volatility To New Highs! Can Ripple Price Still Breach $1 This Year?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
The crypto space has experienced a significant correction in its value of over 2%, resulting in major cryptocurrencies witnessing notable drops in their respective values. Ripple’s <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">XRP price</a> has dropped over 5% within the past day, with a total loss of 7% during the last week.
Following the rumored news of XRP ETF registration by iShares and Blackrock, XRP coin experienced a significant jump of 5% in its price, but the rally was short-lived as the news was then confirmed fake. Following this, the coin lost momentum, and the price dipped.
November started positively as the price recorded a gain of over 20%, breaking out of its key resistance level at $0.6177. After this, the price continued to gain momentum and broke out of its resistance level at $0.6646, but the price was rejected at $0.7187.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/HD0BxbbszHmBbdRjR34fJ25ZUL9HXEI4Nr1r41XMLSfJ9_CIsnathcNImyb-Mj_RRFD6J-kb5ddIQvYiP36IbSl6HqSndyD6F8qkkg5dE4qFhi__wJT5hIfjowRe2QLAPSZ6ORzZsOryG5efQByQVnA" alt="XRP Price Analysis">
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 TradingView: XRP/USDT
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</figure>
After the rejection, the price experienced correction and broke down the support level at $0.6646, following which the price hovered around the support/resistance level. After the recent price action, the XRP coin lost momentum and is presently on the verge of testing its support level of $0.6177, of which the outcome is unpredictable.
On the other hand, the XRP coin price has been recording new lower highs frequently, suggesting the possibility of a significant price drop in the coming time, which could result in this altcoin testing its lower circuit of $0.50.
The Moving Averages Convergence Divergence (MACD) displays a constant red histogram for almost a week, indicating a strong bearish influence in the market for the coin. Further, the averages show a steady decline in the chart, suggesting the price will continue experiencing a correction in value.
<h2 class="wp-block-heading" id="h-will-xrp-price-rise-again">Will XRP Price Rise Again?</h2>
If the XRP bulls hold the price above the support level of $0.6177, the price will regain momentum and make a run to test its resistance level of $0.6646 soon. Further, if the market maintains the price at that level, it will set the stage for the price to attempt to test its upper resistance level of $0.7187 in the coming days.
Conversely, if the bears overpowered the bulls and the price fails to hold its price above $0.6177, the price will lose momentum and fall to test its lower support level of $0.5644.
Moreover, if the bears continue to dominate the market, the price will further plunge, resulting in the coin testing its crucial support level of $0.5009 in the coming weeks.

XRP Price Volatility To New Highs! Can Ripple Price Still Breach $1 This Year?

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