Momentum

Convergence

Resistance

Divergence

<ul>
 <li>Ripple (XRP) shows a neutral trend, with a slight 2% increase in the past day, but a YTD decline of -1.96%, sparking concerns about reaching the $1 mark.</li>
 <li>Despite volatility, XRP saw a brief surge of 20.44% before facing resistance at $0.7310, followed by a 20.65% correction.</li>
 <li>Technical indicators like MACD signal bullish momentum, offering hope to investors eyeing the $1 target amidst market challenges.</li>
</ul>
<p>Ripple (<a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noopener noreferrer nofollow">XRP</a>) price has been displaying a neutral trend, adding approximately 2% within the past 24 hours. However, the year-to-date (YTD) performance of this altcoin stands at -1.96%, indicating weak buying and selling pressure in the market.</p>
<p>This lackluster performance has raised concerns among investors about the future prospects of their XRP investments, as the vision of the token reaching the $1 mark seems to be fading away.</p>
<p>The question on everyone’s mind is whether the XRP price will hit $1 in 2024, given the current market conditions and the challenges faced by the altcoin.</p>
<h2 class="wp-block-heading" id="h-xrp-breaks-out-of-important-resistance-after-volatile-price-action">XRP Breaks Out of Important Resistance After Volatile Price Action</h2>
<p>After exhibiting a neutral trend for some time, the XRP price experienced a significant bullish reversal, adding 20.44% within hours. However, the bulls lost momentum after facing rejection at the resistance level of $0.7310, and the price started trading under bearish influence.</p>
<p>The XRP token underwent a correction of 20.65% in valuation, resulting in it testing its low of $0.580. The bulls managed to hold the price above the support level, which led to the altcoin breaking out of the resistance level and trading in a consolidated range for a brief period.</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="541" src="https://thenewscrypto.com/wp-content/uploads/2024/04/image-27-1024x541.png" alt="" class="wp-image-95689" srcset="https://thenewscrypto.com/wp-content/uploads/2024/04/image-27-1024x541.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/04/image-27-300x158.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/04/image-27-768x406.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/04/image-27.png 1435w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>As market volatility increased, the bulls lost momentum once again, and the price broke down below the support level. The Ripple price recorded a correction of 10.26% before stabilizing and trading sideways for a while.</p>
<p>Recently, the bulls have regained momentum and successfully broken out of their important resistance, signaling an increase in bullish sentiment within the cryptocurrency industry.</p>
<h2 class="wp-block-heading" id="h-technical-indicators-suggest-bullish-momentum-for-xrp">Technical Indicators Suggest Bullish Momentum for XRP</h2>
<p>The Moving Average Convergence Divergence (MACD) indicator displays a constant green histogram on the XRP price chart, highlighting increased bullish sentiment in the crypto industry for the altcoin. Moreover, the averages show a significant rise, suggesting that the price will continue to gain value in the coming time.</p>
<p>This bullish momentum has provided a glimmer of hope for XRP investors, who have been eagerly awaiting a significant price surge to bring the token closer to the $1 target.</p>

Ripple Price Faces Uncertainty Amidst Neutral Trend: Can XRP Hit $1?

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TheNewsCrypto

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