Token

Billion

The post <a href="https://coinpedia.org/price-analysis/ripple-price-jumps-5-today-xrp-price-to-hit-0-56-this-week/">Ripple Price Jumps 5% Today! XRP Price To Hit $0.56 This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The cryptocurrency industry has displayed a short bounce back of 1.77%, a jump of approximately $70 Billion within the past 24 hours after recording a 2-month low of $2.10 T in its global market capitalization yesterday. 
On the other hand, the <a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noreferrer noopener">price of XRP</a> has recorded a jump of over 5% in valuation, resulting in this altcoin reclaiming the $0.50 mark during the early trading hours today. However, the Ripple token continues its struggle to regain momentum, following the April cross-border market correction. 
<h2 class="wp-block-heading" id="h-xrp-token-displays-a-mixed-price-action">XRP Token Displays A Mixed Price Action:</h2> 
The <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP price</a> continues to trade in a closed range between $0.47 and $0.53 despite increased price volatility in the crypto market. Moreover, the Ripple price has recorded a correction of 12.13% within 30 days and its Year-to-Date (YTD) stands at -16.37%, indicating long-term bearish sentiment. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="539" src="https://image.coinpedia.org/wp-content/uploads/2024/05/02182101/pasted-image-0-7-1024x539.png" alt="TradingView: XRP/USDT" class="wp-image-297058" srcset="https://image.coinpedia.org/wp-content/uploads/2024/05/02182101/pasted-image-0-7-1024x539.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/05/02182101/pasted-image-0-7-300x158.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/05/02182101/pasted-image-0-7-768x405.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/05/02182101/pasted-image-0-7-150x79.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/05/02182101/pasted-image-0-7.png 1435w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 TradingView: XRP/USDT
 </figcaption>
</figure> 
Positively, the <a href="https://coinpedia.org/news/ripple-vs-sec-xrp-price-surge-6-1-ahead-of-crucial-filing-deadline/" target="_blank" rel="noreferrer noopener">XRP</a> coin price has added 5.39% within the past day and 0.68% over the past seven days, indicating a rising bullish influence for this altcoin within the cryptocurrency industry. 
The Simple Moving Average (SMA) acts as a resistance to the price chart in the 1D time frame. Furthermore, the XRP price is on the verge of testing a breakout, the outcome of which is unpredictable. 
On the other hand, the technical indicator, MACD, displays a constant green histogram in the chart, indicating a strong bullish influence in the crypto industry. However, the averages show a neutral trend, suggesting a mixed sentiment for this altcoin in the market. 
<h2 class="wp-block-heading" id="h-will-xrp-price-ever-go-up">Will XRP Price Ever Go Up?</h2> 
If the market continues to gain momentum, the XRP price will test its resistance level of $0.5340 this week. Maintaining the price at that level will set the stage for Ripple’s XRP token to attempt to test its upper resistance zone at $0.57 during the upcoming week. 
However, if the bears continue to overpower the bulls, the Ripple coin price will lose momentum, continue to trade under a negative sentiment, and plunge to its crucial support level of $0.47. 
Also Check Out : <a href="https://coinpedia.org/news/ripples-monthly-locking-of-800m-xrp-coins-took-place-amid-xrp-price-surge/">Ripple’s Monthly Locking Of 800M XRP Coins Took Place, Amid XRP Price Surge</a>

Ripple Price Jumps 5% Today! XRP Price To Hit $0.56 This Week?

Table of Contents

CoinPedia News

Other articles published on May 2, 2024

JPMorgan Cautious on Crypto Market Amid Retail Investor Pullback

Crypto Carnage: $500M in Longs Liquidated as Market Plunges (BTC)

Shiba Inu (SHIB) Key Burn Mystery Unraveled by Team Insider: Details

US ETFs Experience Record-Breaking Outflows As Bitcoin ETF From BlackRock Reports First Sell-Off Day

Verasity (VRA) Collaborates with Creo Engine for Enhanced Interactive Video Experience on Creo Play

Can Furrever Token (FURR) Maintain its Lead Over Ethereum (ETH) and Shiba Inu (SHIB) Following it...

Join our free newsletter for daily crypto updates!