2024

Verge

The post <a href="https://coinpedia.org/price-analysis/ripple-price-at-cross-roads-is-xrp-price-on-the-verge-of-a-breakout-or-a-major-crash/" rel="noopener noreferrer nofollow">Ripple Price At Cross Roads : Is XRP Price on the Verge of a Breakout or a Major Crash?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Failing to start 2024 on a breakout rally, the XRP price takes a bearish step within the triangle pattern in the weekly. With high volatility going against the general triangle formations, the Ripple price gives sharp moves within.&nbsp;
Currently, the active bearish moves on the long coming resistance trendline lead to a price drop to the support trendline. Nevertheless, the <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">Ripple price prediction</a> teases the bullish breakout possibility of the weekly triangle pattern to test $1.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/nvvcf_lLkzp9ghS-ihu2Pfxzjg9ZCE-c4w_5qX0x9zFk3Okxhpt30RgW9HE70vFo59435WhwkL594VvQdfzg7dyF3LUR2-wtloYxymSXAX5m0mI64LFxvUHIdVOUMLSIB7g9_v0tCtj2_hi46AQrm5Y" alt="">
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 Source – <a href="https://www.tradingview.com/x/jOfQWDeO/" rel="noopener noreferrer nofollow">Tradingview</a>
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With a 10% drop last week in the XRP price, the start of 2024 for Ripple takes a bearish route as opposed to the anticipated breakout run. The sellers prolong the consolidation within the weekly triangle, bringing the price closer to the psychological mark of $0.50.
Starting this week at $0.5517, the intraday growth of 0.88% puts the XRP price under bounce-back preparations to reclaim $0.60. However, the lack of any significant move in the trading volume represents a strong consolidation.&nbsp;
Currently, the XRP price trades at $0.5567 and struggles to halt the three-day bearish streak, accounting for a 6.18% drop. Therefore, despite the lower price rejection in the last weekly candle, the chances of a downtrend are grim.&nbsp;
Technical Indicators:
MACD indicator: The MACD and signal lines fail to give a bullish crossover once again as the XRP price retreats from the overhead boundary line. With the resurging bearish histograms, the momentum indicator represents a failed trend reversal attempt.&nbsp;
RSI Indicator: The dropping price trend leads the RSI line under the halfway line and warns of a bearish outcome.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-xrp-price-reach-1">Will The XRP Price Reach $1?</h2>
In the weekly chart, the recent price drop in XRP tests the bullish dominance at the support trendline at the $0.50 mark. If the buyers push back the incoming supply, the Ripple prices can make a comeback with increased breakout potential.&nbsp;
Once the breakout rally crosses $0.71, the chances of a price jump to $1 will improve significantly. Conversely, a bearish trend continuing below the $0.50 mark can lead to a breakdown phase.&nbsp;

Ripple Price At Cross Roads : Is XRP Price on the Verge of a Breakout or a Major Crash?

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