Forecast on XRP Value This Week: Can Ripple Reach $1 or $3?
With the turbulent financial landscape raging on, the cryptocurrency market has taken a substantial blow, dropping by 5.76% from $2.61 Trillion to $2.47 Trillion, coupled with a trading volume of $225.7 billion. This downturn has been particularly harsh on Bitcoin, which has plummeted below $78,000, sporting a volume of $99.463 billion. On a brighter note, Ethereum's dominance has slipped to a multi-month low of 7.48%, indicative of an increased domination by the bears.
As the dust settles, minds are buzzing about the near-term prospects for Ripple's XRP token, specifically questions like "How low will XRP price dive?" and "Is Ripple a smart buy or sell today?" Let's explore the potential Ripple price trends for this week.
XRP's Plunge Reaches a Staggering 25% Today!
The XRP price has shattered its critical support zone of $2 during the early Asian trading hours, causing the altcoin's price to plummet to a new yearly low of $1.64 with a trading volume of $15.58 billion, an impressive change of +625.19%. With a market cap of $108.52 billion, the Ripple price has exhibited a YTD return of -10.48%.
The Simple Moving Average (SMA) consistently functions as a roadblock for the XRP coin price chat in the 1D time frame, underscoring a strong bearish sentiment for the second-largest altcoin by market capitalization.
The Moving Average Convergence Divergence (MACD) shows a perpetual red histogram with its averages consistently recording a continuous slide in the chart, suggesting that the XRP token's price may continue trading under a grim sentiment this week.
How Far Will the XRP Price Sink?
If a bullish trend reversal materializes, the Ripple price might retest its immediate resistance trend level of $2. Maintaining the price above this threshold could push the price of this altcoin toward its upper price target of $2.25 in the near future.
Should the bulls overpower the bears or if the crypto market witnesses a firm buyback, this might trigger the XRP crypto price to sprint toward its upper limit of $3.
Conversely, a persistent bearish action could compel the XRP price to probe its crucial low of $1.75. In the event of the bears commanding the crypto scene, this could potentially lead the XRP price to plunge to its multi-month low of $1.50 this week.
Note: For a fact-checked in-depth analysis of the recent Ripple news, take a look at our article on "Ripple Launches 100 Million XRP Rewards Program! Fact Check."
[1] "Ripple (XRP) Price Prediction: XRP Analysis and XRP Price Forecast 2025, 2024, and 2023." Coinstrike, 24 Aug. 2021, https://coinstrike.me/ripple-xrp-price-prediction/.[2] "XRP Price Today - Live XRP Price Chart & XRP Price News Now." CoinMarketCap, 18 Jan. 2022, https://coinmarketcap.com/currencies/ripple/.[3] "XRP Prediction 2022 (Ripple Price Prediction)." Cryptocurrencyprice.ai, 20 Dec. 2021, https://cryptocurrencyprice.ai/guides/ripple-xrp-price-prediction-2022/.[4] "Ripple (XRP) Price Prediction 2022." DigitalCoinPrice, 7 Jan. 2022, https://digitalcoinprice.com/coins/ripple.[5] "Ripple XRP Technical Analysis (XRP/USD) - 18 Jan 2022." TradingView, 18 Jan. 2022, https://www.tradingview.com/chart/?symbol=XRPUSD&interval=1D.
- Amid the volatile financial market, questions about the potential price trends of Ripple's XRP token have arisen, particularly concerning how low XRP might dive and whether Ripple is a wise buy or sell today.
- The XRP price has plummeted by a staggering 25% today, reaching a new yearly low of $1.64, with a trading volume of $15.58 billion.
- Despite a YTD return of -10.48%, Ripple's market cap currently stands at $108.52 billion.
- The Simple Moving Average (SMA) in the 1D time frame serves as a significant barrier for the XRP coin price, illustrating a strong bearish sentiment for the second-largest altcoin by market capitalization.
- The Moving Average Convergence Divergence (MACD) continues to show a persistent red histogram, suggesting that the XRP token's price may continue to trade in a bearish sentiment this week.
- If a bullish trend reversal occurs, the Ripple price might retest its resistance trend level of $2, potentially pushing the price towards its upper price target of $2.25 in the near future. Conversely, if the bears dominate the scene, XRP could plunge to its multi-month low of $1.50 this week.
