Rally

The post <a href="https://coinpedia.org/price-analysis/xrp-price-rally-fading-away-ripple-price-to-record-10-correction-soon/" rel="noopener noreferrer nofollow">XRP Price Rally Fading Away! Ripple Price To Record 10% Correction Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The Ripple token continues to display a neutral trend, suggesting a disinterest of the investors in it. Further, the XRP price has recorded a correction of less than 3% over the past week, highlighting a weak price action for the coin.
Ripple’s <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">XRP price</a> traded in a closed range between $0.6139 and $0.6445 for over a week, following which the market lost momentum, resulting in the XRP token experiencing a loss of over 10% in valuation. After this, the price traded sideways between $0.5600 and $0.5779 for about a week.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/JumDraDdAcHfg-kNrE8ZKycZcYCaOUiBiYSDR-20RXrcHXy54N3GmOByeTVkfTK6CkBRp1D-LshftiihP6tz039vIh2Lk0f-PPB6HrSADxMTJat7fau4kCK0UtO8_mnvesusUjO-y04qqMkHbxJNAuQ" alt="XRP Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: XRP/USDT
 </figcaption>
</figure>
As the market volatility grew, the XRP price gained momentum and jumped approximately 10%. Following this, the price faced rejection at $0.6139 and erased all its gains from the pump, after which the price traded sideways for a while.
The token continued to trade under a bearish influence and recorded a loss of 13.5% in valuation over the next nine days. After testing its low of $0.5005, the bulls gained just enough momentum to break out of the resistance level.
Since then, the price has been trading in a closed range between $0.5215 and $0.5435.
<h2 class="wp-block-heading" id="h-will-xrp-price-hit-1-this-year">Will XRP Price Hit $1 This Year?</h2>
The Relative Strength Index (RSI) displays constant fluctuations in the chart, suggesting a bear/bull power in the market. Further, the averages show a bearish curve, highlighting a high possibility of negative price action soon.
If the market holds the price above the support level of $0.5215, the bulls will regain power and test its resistance level of $0.5435 soon. Maintaining the price at that level will set the stage for the XRP token to attempt to test its upper resistance level of $0.56 in the coming time.
Conversely, if the bears gain power, the Ripple coin will fall to test its support level of $0.5215 soon. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $0.5005 this week.

XRP Price Rally Fading Away! Ripple Price To Record 10% Correction Soon?

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