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The post <a href="https://coinpedia.org/price-analysis/ripple-price-breaks-down-its-important-level-xrp-price-to-test-0-60/">Ripple Price Breaks Down Its Important Level! XRP Price To Test $0.60?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry has displayed a significant correction in its valuation after trading under a strong bullish influence for the past few days. Top tokens have recorded a correction of over 5% in their respective portfolio. 
On the other hand, the <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP price</a> has recorded a correction of over 6.5% within the past 24 hours, making it one of the top losers of the day. 
<h2 class="wp-block-heading" id="h-ripple-token-displays-a-stong-bearish-reversal-in-the-chart">Ripple Token Displays A Stong Bearish Reversal In The Chart!</h2> 
Ripple’s <a href="https://markets.coinpedia.org/xrp/">XRP</a> token traded in a consolidated range between $0.530 and $0.578 for a brief period, indicating weak buying and selling pressure for the altcoin in the market. As the volatility grew, the bulls recorded a jump of 13.50% in valuation before facing rejection at $0.6016. 
After trading sideways for a while, the bulls regained momentum and recorded another jump of 14.60%, following which the bulls lost momentum, resulting in a price plunge. The XRP token recorded a correction of 14.29% within the next two days, highlighting a strong bearish influence in the space. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/E1kUU5xpUTLRHcGwxffka1BHkLKemetTCIj4X_Ah5S_S46cJEuCEMc0xxud4vwuOb-sNUeoiCsSCM-rKHmS7_9HxZcjOHoUXNmCtDNSjAzhRkKibDDCbygqTeSGbjBB_2ZCDgmdC19BXAAiawo_-0_E" alt="XRP Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: XRP/USDT
 </figcaption>
</figure> 
The Ripple token tested its low of $0.5545, following which the bulls regained momentum and recorded a bounce back in the chart. After trading sideways between $0.6016 and $0.6290, the bulls regained momentum and jumped 21.50% in the chart. Since then, the price has been trading under a bearish influence. 
The technical indicator, MACD, displays a constant rise in the red histogram, indicating increased selling pressure in the crypto industry. Moreover, the averages show a descending trend, suggesting a negative price action for the altcoin in the coming time. 
Also Read: Top 10 Altcoins with 100x Potential in This Bull Run 
<h2 class="wp-block-heading" id="h-will-xrp-price-increase">Will XRP Price Increase?</h2> 
If the market holds the price above the support level of $0.6290, the bulls will regain momentum and prepare to test its resistance level of $0.6930. Maintaining the price at that level will set the stage for the XRP token to test its upper resistance level of $0.7310 over the coming weekend. 
Conversely, if the bears continue to overpower the bulls, the price will test its lower support level of $0.6016. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower level of $0.5780.

Ripple Price Breaks Down Its Important Level! XRP Price To Test $0.60?

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