XRP Price Prediction: XRP Price Hits $0.58 Support; Accumulate Again?
On April 25th, the Ripple(XRP) sellers escaped from a minor consolidation stretching from $0.87 to the 0.68 mark. The support breakdown released the trapped bearish momentum and pulled the XRP price to January’s bottom support at $0.58.
Key points from XRP analysis:
- The XRP price lost 25..56% within a fortnight
- The potential fallout from the $0.55 would invalidate the bullish theory
- The intraday trading volume in the XRP is $1.8 Billion, indicating a 4.1% loss.
Source- Tradingview
Since the November 2021 bloodbath plunged the Ripple(XRP) price below the $1 physiological mark, the price action has been restricted within the $1 and $0.55 barrier. As a result, the altcoin has witnessed a range-bound rally for five months, waiting for a genuine breakout.
A recent reversal from the $0.88 resistance had slumped the XRP price to local support of $0.685. Furthermore, the buyers drove a minor relief rally that was soon revered and breached the $0.685 support.
The XRP price currently trades at the $0.6 mark, with a loss of 31.8% from the swing high resistance($0.88). The altcoin is gradually nearing the January bottom support of $0.55, which is a significant accumulation zone for traders.
If the XRP price rebounded from this support, the renewed buying momentum would push the price to 0.68 or $0.88, continuing the range-bound rally for a few more sessions.
Alternatively, the $5.5 support fallout would suggest downtrend resumption and may drop 31% lower to the $0.4 mark.
Technical Indicator
The flattish 50, 100, and 200 EMAs emphasize a sideways rally for XRP. However, the coin price moving below these EMAs and a potential bearish crossover between the 50-and-100 EMA puts sellers at a major advantage.
The expanding gap between the MACD and signal lines suggests growing bearish momentum.
- Resistance level: $0.73 and $78
- Support levels: $0.7 and $0.63
- “Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs
- CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP
- Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage
- CleanCore’s Dogecoin Treasury Pays Off Big With $20M Gains as Holdings Near 1B DOGE
- Crypto Market Crash: $700M Liquidated in Bitcoin, ETH, XRP, SOL, DOGE, XPL
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
