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The post <a href="https://coinpedia.org/price-analysis/ripple-token-holds-its-price-above-0-60-despite-bearish-wave-whats-next-for-xrp/" rel="noopener noreferrer nofollow">Ripple Token Holds Its Price Above $0.60 Despite Bearish Wave! What’s Next For XRP?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Despite the cryptocurrency market gaining significant price momentum, Ripple’s XRP price continues to display a neutral trend, indicating weak buying and selling pressure for this token in the market.
The <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">XRP price</a> traded in a consolidated range between $0.5976 and $0.6302 for a brief period, following which the price gained momentum and jumped over 10%. However, the price faced rejection at $0.6921, after which it recorded a trend reversal and leveled all its gains within a week.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/J8-0p3a_GsBzeDq-NlJu3MMZ2ObAwG9U5HhcadNmJTVsjxzZRnqgydGqpoxcwBHaqLomQoJBOtALDKLTRueN3fJiBHgur2ShT6l_LpGnXL82zqp1fhw1iutv8m1enJlk9YFqQQHPNH36CBjXXybTjIw" alt="XRP Price Analysis">
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 TradingView: XRP/USDT
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</figure>
Following this, the price continued to trade in a range between $0.5976 and $0.6302 for over a week. As the selling pressure increased, the bulls lost momentum and broke down the support level, but the bulls held the price above the support level of $0.5779, resulting in a bounce back in the range.
Since then, the token continues to trade in a closed range between $0.6139 and $0.6302. Moreover, the Cross EMA 50/200 Day displays a high possibility of a Death Cross, indicating the price will undergo significant correction in the coming time.
<h2 class="wp-block-heading" id="h-will-ripple-price-increase">Will Ripple Price Increase?</h2>
The technical indicator, MACD, displays a constant green histogram, indicating a bullish sentiment in the market. Further, the averages show a neutral trend, suggesting an uncertainty in the future price action of the coin.
If the market gains momentum, the bulls will prepare to test its resistance level of $0.6302 in the coming week. Further, if the bulls continue to gain power the XRP price will run and test its upper resistance level of $0.6479 by the month-end.
Conversely, if the bears overpowered the bulls, the Ripple price would lose momentum and fall to test its support level of $0.6139. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its crucial support level of $0.5976 in the coming time.

Ripple Token Holds Its Price Above $0.60 Despite Bearish Wave! What’s Next For XRP?

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