Ripple Token maintains price above $0.60 despite downtrend! What’s next for XRP?

Despite the cryptocurrency market gaining significant price momentum, Ripple’s XRP price continues to trend neutral, indicating weak buying and selling pressure for this token in the market.

XRP price traded in a consolidated range between $0.5976 and $0.6302 for a short period of time before the price gained momentum and surged more than 10%. However, the price faced a rejection at $0.6921, after which it recorded a trend reversal and leveled off all gains within a week.

The price has since traded between $0.5976 and $0.6302 for over a week. As selling pressure increased, the bulls lost momentum and broke the support line, but the bulls bounced back within the range, maintaining above the $0.5779 support line.

Since then, the token continues to trade in a closed range between $0.6139 and $0.6302. Additionally, the Cross EMA 50/200 Day is likely to be a Death Cross, which indicates a significant price correction in the coming days.

Will Ripple price increase?

MACD, a technical indicator, displays a persistent green histogram, indicating bullish sentiment in the market. Additionally, the average shows a neutral trend, suggesting that there is uncertainty about the future price movement of the coin.

If the market gains momentum, bulls will prepare to test the $0.6302 resistance level next week. Additionally, if the uptrend continues to gain strength, XRP price is likely to test the upper resistance level of $0.6479 by the end of the month.

Conversely, if the bears overwhelm the bulls, Ripple price will lose momentum and move lower to test the support level at $0.6139. Moreover, if the bears continue to dominate the market, the downside will increase further and prepare to test the important support level of $0.5976 in the future.