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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?

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