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<p>The post <a href="https://coinpedia.org/price-analysis/ripple-xrp-price-poised-for-100-upswing-but-theres-a-catch/" rel="noopener noreferrer nofollow">Ripple (XRP) Price Poised For 100% Upswing? But There’s A Catch!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Despite recording a positive <a href="https://coinpedia.org/news/cpi-data-drops-below-3-for-first-time-since-march-2021/" target="_blank" rel="noopener noreferrer nofollow">CPI data release</a>, the crypto market has recorded a significant drop over the past hour. Furthermore, the price of <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> has plunged below the $60,000 mark, indicating an increase in the selling pressure within the crypto space.</p>
<p>Following in the footsteps, the XRP price has recorded a similar price action by dropping approximately 1% during this time. Moreover, with the present situation, questions like “Will XRP price ever recover $1?” and “Will Ripple price bounce back this year?” are on a constant rise.</p>
<p>Scroll down as, in this article, we have uncovered the market sentiments, price analysis, and potential short-lived price targets of the Ripple (XRP) crypto token.</p>
<h2 class="wp-block-heading" id="h-xrp-price-tests-its-important-support-level">XRP Price Tests Its Important Support Level:</h2>
<p>The <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Ripple price</a> has formed a symmetric triangle pattern in the 1D time frame and has continued trading since July. Moreover, it has formed a resistance zone above the $0.630 level, highlighting a strong liquidation point at that level.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcDoQOSM2toDwp-W4wkmxAGERsG-RDGnVYp8tWntNccmz-ew1ZWMHW1AWfjTuDc8ZOIjW2yMBlBI-J9y74pasGlOCd750TgilnVpOidNHrstUCZpXlfsTeGmgPJKN8-9RQnDO0upOW5dSjr1rXebqOgPX3a?key=2w39CgqaQr9pUxbEHF_6Fg" alt="XRP Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: XRP/USDT
 </figcaption>
</figure>
<p>With a trading volume of $0.5712 and a circulating supply of 56,113,081,096 XRP tokens, it has successfully secured the position of the 7th largest cryptocurrency with a market capitalization of $32.573 Billion.</p>
<p>The Relative Strength Index (RSI) continues hovering close to its mid-point, indicating weak buying-and-selling pressure for the altcoin in the crypto space. Further, the SMA indicator displays a bullish action, suggesting a mixed sentiment for the <a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP coin price</a> this week.</p>
<h2 class="wp-block-heading" id="h-is-the-price-of-xrp-going-to-go-up">Is The Price Of XRP Going To Go Up?</h2>
<p>If the market holds the Ripple price above the support level of $0.560, the bulls will prepare to test its resistance level of $0.630. Furthermore, if the altcoin continues trading under a bullish sentiment, it will head toward its upper resistance level of $0.690 in the coming time.</p>
<p>Conversely, a bearish action could result in it retesting its support level of $0.560. Moreover, if the bears continue to dominate the cryptocurrency market, this could result in the XRP coin price plunging toward its low of $0.4880.</p>

Ripple (XRP) Price Poised For 100% Upswing? But There’s A Catch!

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