Since Ripple has maintained a neutral price movement since the beginning of this week, will this altcoin experience a bullish reversal and set a new 52-week high? Or will it exhibit a strong bearish retracement and retest its lower support level?
XRP price stabilizes above $1.4!
Ripple price surged by 5.46% during the day, with a trading volume of $7.83 billion, returning to the $1.40 mark. Notably, this altcoin has skyrocketed over 25% in the past seven days, and has surged 171.91% just this month.
The Relative Strength Index (RSI) continues to hover above the overbought range, with its average trend line recording similar price trends. This suggests a positive outlook for the altcoin this week.
The Moving Average Convergence Divergence (MACD) continues to decline within the daily timeframe, with its averages recording similar price movements on the XRP price chart. This indicates that the price sentiment for the 6th ranked cryptocurrency is mixed.
Will XRP price reach $2 this year?
Assuming the bulls regain momentum, then the Ripple price will retest its resistance level of $1.50 this week. Moreover, if bullish sentiment intensifies, it may push the XRP cryptocurrency up to its upper resistance level of $1.75 in the near future.
However, if the bears outnumber the bulls, this altcoin may retest its support level of $1.250. Additionally, if the bulls fail to regain momentum at that time, it may lead to a drop to a low of $1.00.
