XRP (XRP) Price Prediction: Will the Altcoin Consolidate or Record a Bullish Reversal?

The cryptocurrency market started the 3rd week of October on a positive note by recording a positive inflow for the 3rd consecutive day. Following this, top tokens have regained a significant uptrend in their respective valuations.

Cryptocurrency markets began the third week of October on a positive note, recording a third consecutive day of positive inflows. Top tokens have regained a significant uptrend in their respective valuations.

XRP coin price, on the other hand, is nearing a breakout from its key resistance zone, centered around the $0.560 mark. Will Ripple price record a bullish reversal and conclude “Uptober” on a positive note, or will this altcoin face consolidation?

Ripple Price Poised For A Breakout Rally?

XRP price notably shows a minor change of less than 1% over the last 24 hours. However, the coin has recorded a 2.89% gain in the last seven days. Additionally, it trades at $0.53 with a trading volume of $1.198 billion. The market capitalization of XRP stands at $30.609 billion.

The EMA 50/200-day has recorded a significant downtrend over the last few days. Moreover, the technical indicator acts as a resistance to the price chart and is about to record a Death Cross, indicating weak buying pressure for the altcoin in the market.

In a 1D time frame, the Relative Strength Index (RSI) has failed to cross the neutral point, leading to a sharp drop in its value. It further indicates a high possibility of a bearish crossover, suggesting a bearish outlook in the upcoming time.

Will Ripple Continue To Flow?

If XRP price manages to break out of the resistance zone at $0.560, it could set the stage for a potential rally toward the upper high of $0.630 in the coming weeks.

Conversely, a rejection could lead to a pullback in the price, driving it toward its key support trendline at $0.4880 this month.

Curious about the price sentiments for this crypto token? Check out our Ripple (XRP) Price Prediction to clear all your doubts!

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