Can Ripple Gain 20% Next Week?

The crypto industry has displayed a massive turn of events as the crypto market has added over 180 Billion in its market cap within just one week. Top cryptocurrencies have managed to break out of their respective key resistance levels, indicating a strong bullish move in the market.

The XRP price has displayed a green trading day for the sixth consecutive day as the price has experienced a jump of over 13% within the last week. The token started gaining momentum after the SEC dropped charges against Ripple Labs top two executives, resulting in the price jump.

The Ripple’s XRP coin had started the month on a positive note, but following the Death Cross, the price lost momentum and dipped below its crucial support zone at $0.5035 and continued to fall and broke down its lower support level at $0.4913.

XRP token then started trading in a closed range between $0.4810 and $0.4913 for a brief period. After that, the market gained momentum, and the Ripple price leveled all its losses from the dip and started trading in a closed range of $0.5082 and $0.5233 for a short duration.

Following the Golden Cross, XRP price experienced another jump in its value and broke out of its key resistance level at $0.5488 and continued to rise but was rejected at $0.5604.

After multiple attempts at that level, the price lost momentum and experienced a drop in its value, resulting in the pricing breaking down its support level at $0.5488.

The MACD displays a constant green histogram in its chart, indicating a bullpower in the market. Further, the histogram shows a continuous decline in its bars and a change of a bearish convergence, suggesting the possibility of a price correction in the coming days.

Will XRP Price Regain Value?

If the XRP bulls continue to gain power and break out of their resistance level at $0.5604, the price will regain momentum and prepare itself to test its next major resistance at $0.5703.5 by the weekend.

Further, if the market continues to gain power, the XRP price will make a run to test its important resistance level at $0.60 in the coming time.

Conversely, if the bears overpower the bulls, the price will drop below its support level of $0.5488, lose momentum, and test its lower support level at $0.5337 soon. Moreover, if the bears dominate the market, the XRP price will continue to dip and prepare to test its crucial support zone at $0.5035 in the coming days.