Bitcoin is finding it difficult to rise above the overhead moving averages, indicating that the bears are trying to flip the level into resistance.
SBI Digital Community Co., Ltd., a SBI Group subsidiary, and Ripple Labs have announced a strategic partnership to promote the utilization of the XRP Ledger within the Web3 community. According to an official press release dated August 13, the collaboration will focus on integrating the XRP Ledger into “Bto3Web3 community”, a digital platform managed by […]
XRP price started a downside correction from the $0.6480 resistance. The price is now testing the $0.550 support and might eye a fresh increase. XRP price started a downside correction below the $0.620 and $0.600 levels. The price is now trading below $0.600 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5750 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $0.580 resistance zone. XRP Price Hits Key Support XRP price struggled to extend gains above the $0.6450 and $0.650 levels. The price started a downside correction below the $0.600 level like Ethereum and Bitcoin. There was a move below the $0.5850 and $0.580 support levels. The price dipped below the 50% Fib retracement level of the upward wave from the $0.4925 swing low to the $0.6475 high. However, the bulls are now active near the $0.5500 support. The 61.8% Fib retracement level of the upward wave from the $0.4925 swing low to the $0.6475 high is acting as a support. The price is now trading below $0.600 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $0.570 level. The first major resistance is near the $0.5750 level. There is also a key bearish trend line forming with resistance at $0.5750 on the hourly chart of the XRP/USD pair. The next key resistance could be $0.580. A clear move above the $0.580 resistance might send the price toward the $0.5950 resistance. The next major resistance is near the $0.600 level. Any more gains might send the price toward the $0.620 resistance or even $0.650 in the near term. More Downsides? If XRP fails to clear the $0.580 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5520 level. The next major support is at $0.550. If there is a downside break and a close below the $0.550 level, the price might continue to decline toward the $0.5320 support. The next major support sits at $0.5250. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5550 and $0.5500. Major Resistance Levels – $0.5750 and $0.5800.
XRP price started a major increase above $0.550 and $0.600. The price is now consolidating gains and facing hurdles near the $0.6480 zone. XRP price started a strong increase above the $0.550 and $0.580 levels. The price is now trading above $0.600 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with resistance at $0.640 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise if it clears the $0.640 resistance zone. XRP Price Eyes Additional Gains XRP price formed a base above $0.50 and started a major increase beating Ethereum and Bitcoin. The price was able to surpass the $0.550 and $0.580 resistance levels. The bulls even pumped the price above the $0.60 resistance. A high was formed at $0.6473 and the price is now consolidating gains. There was a move below the $0.6120 level. The price dipped below the 23.6% Fib retracement level of the upward wave from the $0.4920 swing low to the $0.6477 high. However, the bulls are active near $0.600. It is still trading above $0.600 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $0.6280 level. The first major resistance is near the $0.6380 level. The next key resistance could be $0.640. There is also a key contracting triangle forming with resistance at $0.640 on the hourly chart of the XRP/USD pair. A clear move above the $0.640 resistance might send the price toward the $0.6550 resistance. The next major resistance is near the $0.6720 level. Any more gains might send the price toward the $0.6880 resistance or even $0.700 in the near term. Another Decline? If XRP fails to clear the $0.640 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.6080 level. The next major support is at $0.600. If there is a downside break and a close below the $0.600 level, the price might continue to decline toward the $0.570 support or the 50% Fib retracement level of the upward wave from the $0.4920 swing low to the $0.6477 high. The next major support sits at $0.550. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.6080 and $0.5700. Major Resistance Levels – $0.6250 and $0.6400.
The long-running legal battle between the US Securities and Exchange Commission (SEC) and Ripple finally concluded following Judge Analisa Torres’ judgment on August 7. With the lawsuit out of the way, crypto analyst CrediBULL Crypto predicts that the XRP price could soon surpass its all-time high (ATH). XRP Price Is Set For A “Mega Run” To New ATH CrediBULL Crypto mentioned in an X (formerly Twitter) post that the stage is set for an “inevitable mega run for XRP. The analyst added that XRP hitting a new ATH is a matter of when and not if. XRP’s current ATH stands at $3.84, meaning the crypto token could rise above this price level soon. Related Reading: Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again? Before now, crypto analysts like RLinda had highlighted the conclusion of the case between the SEC and Ripple as one of the catalysts that could spark a massive rally for XRP. She asserted that this event would give XRP a “second life” to achieve a successful breakout above critical resistance levels. Crypto analyst JackTheRippler predicted that XRP would rise to as high as $100 once the case between the SEC and Rippled ended. Crypto analyst Common Sense Crypto also alluded to the lawsuit while outlining why XRP can reach $100. The analyst suggested that the conclusion of the case will lead to the launch of a Spot XRP ETF, which can spark such a parabolic rally for XRP. This lawsuit began in December 2020 and is believed to have hindered XRP’s growth, especially during the 2021 bull run when the crypto token failed to record significant gains or even close to breaking its ATH. However, that looks set to change as Judge Torres’ judgment has ended the lawsuit, at least for now, with an appeal still a possibility. Judge Torres declared a $125 million penalty against Ripple for violating securities laws and an injunction against future violations. However, the $125 million is way below the almost $2 billion fine the SEC initially proposed. The court also ruled that the SEC cannot bar Ripple’s On-Demand Liquidity (ODL) sales. XRP Is Just Getting Started Crypto analyst Mikybull Crypto stated that XRP’s current rally following the court’s ruling is just getting started while urging market participants to get ready for the “real fun.” Whatever happens, XRP holders will hope that the excitement about the end of the lawsuit can help send XRP above $1 in the short term. Related Reading: Dogecoin Bounces Off Key Support Following Crash Below $0.1 Such a move will undoubtedly boost the confidence of these investors that XRP can reach the projected heights that these analysts say it will attain. It is worth mentioning that XRP failed to break the $1 resistance when Judge Torres declared last year that the crypto token wasn’t a security. As such, XRP’s price action will be one to watch. At the time of writing, XRP is trading at around $0.60, up over 18% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
In a long-awaited conclusion to their high-profile legal clash, Ripple Labs and the US Securities and Exchange Commission (SEC) have reached a settlement that will see the blockchain company pay $125 million in civil penalties. Related Reading: Bitcoin Eyes New Records: Staying Above $45,000 Might Be The Catalyst — CEO Ripple-SEC Legal Saga Ends According […]
Bitcoin’s recovery bounce is losing steam, indicating that the bears remain active at higher levels.
XRP price started a recovery wave above the $0.4880 resistance. The price could gain bullish momentum if it clears the $0.5220 resistance. XRP price started a decent recovery wave above the $0.4750 and $0.4880 levels. The price is now trading below $0.5220 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $0.5040 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to recover higher if it clears the $0.5220 resistance zone. XRP Price Regains Strength XRP price formed a base above $0.4320 and started a recovery wave like Ethereum and Bitcoin. The price was able to surpass the $0.4750 and $0.4880 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $0.5767 swing high to the $0.4320 low. Besides, there was a break above a key bearish trend line with resistance at $0.5040 on the hourly chart of the XRP/USD pair. However, the price is facing hurdles near the $0.5200 zone. It is still trading below $0.520 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $0.5220 level and the 100-hourly Simple Moving Average. It is close to the 61.8% Fib retracement level of the downward move from the $0.5767 swing high to the $0.4320 low. The first major resistance is near the $0.5420 level. The next key resistance could be $0.5750. A clear move above the $0.5750 resistance might send the price toward the $0.5840 resistance. The next major resistance is near the $0.5920 level. Any more gains might send the price toward the $0.600 resistance or even $0.6120 in the near term. Another Drop? If XRP fails to clear the $0.5220 resistance zone, it could start another decline. Initial support on the downside is near the $0.4980 level. The next major support is at $0.4880. If there is a downside break and a close below the $0.4880 level, the price might continue to decline toward the $0.4660 support in the near term. The next major support sits at $0.4500. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4980 and $0.4880. Major Resistance Levels – $0.5220 and $0.5420.
XRP price started a recovery wave from the $0.4320 support. The price is up over 8% and now faces hurdles near the $0.5120 zone. XRP price traded below the $0.500 and $0.4550 support levels. The price is now trading below $0.5250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5120 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to recover higher if it clears the $0.5150 resistance zone. XRP Price Starts Recovery Wave XRP price extended losses below the $0.500 support like Ethereum and Bitcoin. The bears even pushed the price below the $0.4550 support zone. The price tested the $0.4320 zone. A low was formed at $0.4320 and the price recently started a recovery wave. There was a move above the $0.4550 and $0.480 resistance levels. The price climbed above the 50% Fib retracement level of the downward wave from the $0.5765 swing high to the $0.4320 low. The price is still trading below $0.550 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $0.5120 on the hourly chart of the XRP/USD pair. The bulls are now facing a major hurdle near the trend line and $0.5150. The first major resistance is near the $0.540 level and the 100-hourly Simple Moving Average. It is close to the 76.4% Fib retracement level of the downward wave from the $0.5765 swing high to the $0.4320 low. The next key resistance could be $0.550. A clear move above the $0.550 resistance might send the price toward the $0.5550 resistance. The next major resistance is near the $0.5680 level. Any more gains might send the price toward the $0.580 resistance or even $0.5880 in the near term. Another Decline? If XRP fails to clear the $0.5120 resistance zone, it could start another decline. Initial support on the downside is near the $0.4880 level. The next major support is at $0.4750. If there is a downside break and a close below the $0.4750 level, the price might continue to decline toward the $0.4500 support in the near term. The next major support sits at $0.4320. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4880 and $0.4750. Major Resistance Levels – $0.5120 and $0.5400.
In a recent development that has sparked considerable outrage within the XRP Ledger (XRPL) developer community, Ripple is under fire for altering a podcast clip. The edited segment was part of Ripple’s new podcast series titled “Exploring Ripple’s New Stablecoin Ripple USD (RLUSD)”, featuring CTO David Schwartz and Ripple President Monica Long discussing the upcoming […]
Crypto analyst CrediBULL Crypto provided a market analysis on Pepe (PEPE), Ethereum (ETH), and XRP. Based on his analysis, PEPE could hit a new high soon enough, seeing how it has ranged since hitting a new all-time high (ATH) in May. A Price Rally For PEPE On The Horizon CrediBULL Crypto mentioned in an X […]
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
As the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) inches closer to a ruling on remedies – the final ruling on district court level – the crypto community is abuzz with speculation about the potential repercussions for the XRP price. Notably, Rachelle Renee, a popular crypto pundit, has voiced a dissenting perspective via X, arguing that the forthcoming Ripple-SEC ruling will not significantly impact the price of XRP, contrary to the expectations of many investors. How Will The XRP Price React? Renee’s analysis starts with a sobering view on the nature of the legal resolution itself, which will penalize Ripple. “It is simply the details on how Ripple will be punished for the few minor indiscretions committed,” Renee explained. She expressed skepticism about the potential for this legal closure to serve as a catalyst for a substantial price increase of XRP. According to Renee, the pivotal moment for a possible price surge was when regulatory clarity was initially provided by Judge Torres in July last year, a milestone that has already been passed without a long lasting effect. “The point at which clarity was decided would have been the time to see it move upward in a big way. It did not,” Renee stated. Related Reading: XRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible? She further elucidated that institutional investors, who might be considered a primary driver for such a surge, only required confirmation that it was legally permissible to buy, hold, and utilize XRP. This clearance has already been granted. Therefore, the details of how Ripple might be reprimanded for early sales of XRP are unlikely to sway their investment strategies: “Institutions only needed to hear it was legal now to buy, hold and use. That happened. They do not need to hear or if #ripple will be punished for a few early sales of XRP.” Renee concluded, “I hate to be the one to say it. But I do not think the final Ripple/SEC/Torres event will do anything for the price of XRP. The institutions that might drive a significant price increase already know it’s legal to engage with XRP, and the specifics of Ripple’s punishment are unlikely to influence their decisions further.” She further conceded that while a minor uptick in the XRP price could occur following the resolution, she firmly believes that “this will not be the moon shot” many are hoping for. Instead, Renee suggested that significant market movements for XRP would more likely result from new developments that demonstrate XRP’s utility and adoption by major global players, such as banks and financial institutions. Related Reading: XRP Goes To All-Time High If This Resistance Breaks: Crypto Analyst Contrasting with Renee’s tempered expectations, Bas van Gestel, another voice from the XRP community, presented a more bullish outlook. Van Gestel argued that the end of the Ripple-SEC case would catalyze a major surge in XRP’s price due to enhanced regulatory clarity attracting more investors, institutional adoption by major banks, and global partnerships that would broaden the currency’s use cases. Responding to van Gestel’s optimism, Renee reiterated her point that much of what was anticipated to drive a price surge has already occurred, with regulatory clarity being established over a year ago. She posed critical questions about the timing of the institutional adoption and significant global announcements that van Gestel cited as catalysts, suggesting that while these developments are possible and could be impactful, they have yet to materialize in a way that affects the XRP price meaningfully. “Since regulatory clarity was provided over a year ago, why have we not seen big announcements. I am a believer these announcements will come. But not as part of the final Torres case close,” Renee claims. At press time, XRP traded at $0.5632. Featured image created with DALL·E, chart from TradingView.com
This is part of a larger fund that Ripple will allocate to tokenized T-bills provided by OpenEden and other issuers.
In a scathing criticism, Brad Garlinghouse, the Chief Executive Officer (CEO) of financial giant, Ripple, has publicly condemned the United States Securities and Exchange Commission (SEC) over its sudden retracement from the legal tussle with Binance, the world’s largest cryptocurrency exchange. The Ripple Chief in his criticism of the SEC’s strategy charged that the regulatory […]
XRP is one of the top performers, looking at the performance over the last three weeks. After sinking below $0.40 in early July, the coin has rebounded sharply, adding 60%. As the coin outperforms leading altcoins like Solana and Ethereum, for example, there could be more room for growth. Is XRP Ready For $150? Analyst Thinks So From the daily chart, XRP is trending above key reaction levels. Notably, the close above $0.55 (now key support) reversed losses posted in mid-April. Additionally, the confirmation of recent gains and the close above $0.62 earlier today could spur demand, extending gains toward $0.74 and eventually $1. Related Reading: Analyst Says ETH Price Will Struggle As Spot Ethereum ETFs Expectations Crash As optimism reigns, one analyst on X thinks the coin is preparing for sharp gains in the coming weeks and months. Sharing a price chart, the analyst said XRP is breaking out from the local resistance and the multi-year resistance trend line. From his analysis, the trader said XRP just broke from a “massive, 2,351 days resisting trend.” The breakout from the bull flag anchored at the swing high, when prices rose to all-time highs of over $3.20, and the swing low, $0.16, when the coin plunged to $0.16 in 2021, is crucial. In the analyst’s estimation, XRP is now preparing for more gains that could propel the coin to $150 for an over “21,000% climb” from spot rates. Settlement Of United States Versus SEC Case Crucial It remains to be seen how prices will behave going forward. However, one of the key drivers of demand in the coming days and weeks will be the outcome of the ongoing case pitting Ripple and the United States Securities and Exchange Commission (SEC). Despite the partial win in July 2023, the regulator wants Ripple to pay a huge penalty of $2 billion. However, things are evolving fast, with Ripple lawyers defending that XRP is not an unregistered security as the regulator alleged. The United States SEC is being accused of regulation by enforcement, forcing crypto innovation elsewhere. During the last Bitcoin conference, former President Donald Trump said if he took over, his administration would fire Gary Gensler, the current head of the Commission. Trump said his plan would be to make America the leader in crypto and even establish a BTC reserve. Related Reading: Render Continues To Flash Red In All Timeframes – What’s Going On? Brad Garlinghouse, the CEO of Ripple, has been critical of the United States SEC. After the agency requested the court to retract their classification of some altcoins, including ADA and SOL, as unregistered securities, Garlinghouse claimed the agency has been acting to fulfill a “political agenda and/or acting on bad faith” against crypto players. Feature image from DALLE, chart from TradingView
Ripple’s XRP token has surged to a four-month high of $0.65 and is on pace for its best monthly performance this year. According to CryptoSlate’s data, XRP’s value has jumped about 33% over the past month, making it the top-performing large-cap crypto for July, surpassing Solana and other high-flying digital assets. Retail and whale interest […]
The post Ripple’s XRP soars to four-month high amid speculations of possible SEC settlement appeared first on CryptoSlate.
The XRP price has climbed by over 4% within the last 24 hours, extending its bullish trend observed over the past month. This increase propelled the token to a four-month peak of $0.6377 early on Tuesday, outperforming the top 10 cryptocurrencies in the market. However, this recent surge in value coincides with strong criticism from key Ripple executives, including CEO Brad Garlinghouse and the company’s Chief Legal Officer Stuart Alderoty, directed at the leadership of the US Securities and Exchange Commission (SEC). Ripple’s Response To Amendments In Binance Lawsuit As Bitcoinist reported early Tuesday, the SEC amended its complaint against the world’s largest exchange, Binance, specifically adjusting the classification of 10 cryptocurrencies, such as Solana (SOL), Cardano (ADA), Polygon (MATIC), and Cosmos (ATOM), that were initially deemed as “securities.” Related Reading: Research Firm Predicts Bitcoin Game Theory In Global Adoption Race Brad Garlinghouse, Ripple’s CEO, responded to this development by emphasizing the SEC’s perceived “hypocrisy” in the classification of crypto tokens and its management of crypto regulations over the past year under the guidance of Chair Gary Gensler. Garlinghouse criticized the SEC for what he sees as a lack of clarity in the consistent application of rules, suggesting possible political agendas or questionable litigation tactics. “Definitely not faithful allegiance to the law,” Garlinghouse said. Stuart Alderoty, Ripple’s CLO, also weighed in on the situation, pointing out apparent inconsistencies between the lawsuits involving Binance and the US-based crypto exchange Coinbase, both initiated around the same period in the last quarter of 2023. Alderoty highlighted the SEC’s response to judicial scrutiny in the Binance case compared to its stance in the Coinbase lawsuit, particularly regarding the classification of tokens, in which twelve cryptocurrencies, most of which were also included in the Binance case, were also deemed securities. Analyst Forecasts Bullish Breakout For XRP Price Despite XRP not being implicated in the recent SEC decision, its price continues to surge following a 33% uptrend over the past month. The sustained momentum fueled by bullish investors suggests a potential push towards the $1 threshold. Crypto analyst Ali Martinez notes that XRP’s price has been consolidating within a symmetrical triangle pattern for six years. Martinez anticipates a bullish breakout if XRP surpasses the $0.90 mark, especially in light of the ongoing recovery from a significant dip that drove the token to a 17-month low of $0.3825 on July 5. Related Reading: Dogecoin & Other Memecoins Seeing Less Interest Than Bitcoin: Data However, a critical event looms on August 1 when Ripple Labs is scheduled to release 1 billion XRP from its escrow account, which this influx of supply could potentially outstrip demand, leading to a subsequent decline for the XRP price if market interest fails to materialize. The key will be to watch the $0.5353 level, where the token’s 200-day exponential moving average (EMA) currently resides, which could act as a notable support in the scenario of a further decline following Ripple’s token release. Featured image from DALL-E, chart from TradingView.com
XRP price is attempting a fresh increase above the $0.600 zone. The price could gain bullish momentum if it clears the $0.6200 resistance level. XRP price is showing positive signs from the $0.600 support zone. The price is now trading above $0.6050 and the 100-hourly Simple Moving Average. There was a break above a key contracting triangle with resistance at $0.6050 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it stays above the $0.5940 support zone. XRP Price Eyes Could Gather Pace Toward $0.650 XRP price remained stable above the $0.5920 support zone. A base was formed, and the price recently started an upward move above $0.600. There was a clear move above the $0.6020 resistance zone, but it lagged momentum like Bitcoin and Ethereum. There was a break above a key contracting triangle with resistance at $0.6050 on the hourly chart of the XRP/USD pair. The pair is now testing the 50% Fib retracement level of the downward move from the $0.6321 swing high to the $0.5827 low. It is now trading above $0.6050 and the 100-hourly Simple Moving Average. If there are more upsides, the price could face resistance near the $0.6135 level. The first major resistance is near the $0.6200 level or the 76.4% Fib retracement level of the downward move from the $0.6321 swing high to the $0.5827 low. The next key resistance could be $0.6320. A clear move above the $0.6320 resistance might send the price toward the $0.6465 resistance. The next major resistance is near the $0.6500 level. Any more gains might send the price toward the $0.6750 resistance. Another Pullback? If XRP fails to clear the $0.6200 resistance zone, it could start another decline. Initial support on the downside is near the $0.600 level. The next major support is at $0.5940 and the triangle’s trend line zone. If there is a downside break and a close below the $0.5940 level, the price might continue to decline toward the $0.5820 support in the near term. The next major support sits at $0.5750. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level. Major Support Levels – $0.6000 and $0.5940. Major Resistance Levels – $0.6075 and $0.6200.
Pro-XRP and crypto attorney John E. Deaton, who won the Republican nomination for Senate in Massachusetts, has emerged as one of the largest crypto holders in the political space ahead of the election, with significant holdings in the largest digital assets on the market. XRP Defender John E. Deaton’s Crypto Holdings Exposed Deaton, known not […]
According to a report by Nikkei, SBI Holdings will establish a joint venture with Franklin Templeton, a prominent US investment management company, by the end of this year. The joint venture aims to explore the investment environment for spot Bitcoin ETFs in Japan and could be a new hope for a spot XRP Exchange Traded […]
Crypto exchange OKX has revealed plans to delist trading pairs for several crypto tokens, including Cardano (ADA), Shiba Inu (SHIB), and XRP. This follows a performance check by the crypto exchange, which shows that these trading pairs aren’t meeting up to expectations. OKX To Delist These Trading Pairs OKX announced in a blog post that […]
Crypto analyst Javon Marks has reaffirmed his ultra-bullish prediction for XRP in his latest analysis. The analyst explained why the crypto token will still rise to as high as $150 in this bull run. Why XRP Is Still On Course To Reach $150 Marks mentioned in an X (formerly Twitter) post that XRP looks right on the brink of a “massive bullish breakout,” having recently tested one. He claimed that XRP could successfully achieve this bullish breakout with such continued market strength. He added that this successful breakout and a Full Logarithmic Follow-Through would allow the crypto token to enjoy a price rally of over 41,400% and reach and even climb above $150. Related Reading: Don’t Get Shaken Out, Analyst Says Bitcoin And Altcoins Rally Is Just Starting Marks has continued to predict that XRP can reach such heights for a while based on his Full Logarithmic Follow-Through analysis. Before now, he mentioned that XRP could rise to as high as $200 and noted that such a parabolic rally was indeed possible for the crypto token since it has done it before during the 2017 bull run. Marks has also received support from other analysts like CryptoBull, who have predicted that XRP will rise to triple digits. CryptoBull once predicted that the crypto token could rise to $154 based on an ascending broadening wedge, which he expects XRP to break out from soon enough. Crypto analyst JackTheRippler also predicted that XRP will rise to triple digits when the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple ends. In a more recent analysis, JackTheRippler asserted that a new all-time high (ATH) was on the horizon. He stated that XRP’s multi-year bullish pattern is ending and suggested that it won’t be long before the crypto token enjoys that rally that will see it surpass its current ATH. The crypto analyst is also bullish on XRP because he believes the case between the SEC and Ripple is about to end. About To Break Out Of Six-Year Consolidation Triangle Crypto analyst Mikybull Crypto also recently offered a bullish narrative for XRP, stating that the crypto token is about to break out of the six-year consolidation triangle. The analyst claimed the breakout will be “massive,” followed by a “long sustained enormous rally.” He hinted at his plans to invest in XRP, remarking that he won’t be sidelined for the upcoming move. Mikybull Crypto previously mentioned that XRP might replicate its 2017 rally, considering its current price action path. He stated that the crypto token could rise above $4 if it follows a similar path to 2017. Related Reading: Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down? Meanwhile, crypto analyst Alex Clay also echoed a sentiment similar to Mikybull Crypto, stating that XRP is breaking out of a symmetrical triangle that it has been consolidating inside for about 2,275 days. The analyst expects XRP to rise to between $1.2 and $1.5 in the mid-term, while he predicts that the crypto token could rise to $3 in the long term. Featured image created with Dall.E, chart from Tradingview.com
XRP price is showing positive signs above the $0.5880 zone. The price could accelerate higher if there is a clear move above the $0.6240 resistance. XRP price started a fresh increase above the $0.5880 zone. The price is now trading above $0.600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.600 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise if it clears the $0.6240 resistance zone. XRP Price Remains In Uptrend XRP price started another increase above the $0.5880 resistance. It outperformed Ethereum and Bitcoin with a decent increase above the $0.600 resistance zone. The bulls were able to pump the price toward the $0.6240 resistance zone. A high was formed at $0.6232 and the price is now consolidating gains. There was a minor decline below the $0.6150 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.5733 swing low to the $0.6232 high. The price is now trading above $0.600 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.600 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.5733 swing low to the $0.6232 high. If there is a fresh upward move, the price could face resistance near the $0.620 level. The first major resistance is near the $0.6240 level. The next key resistance could be $0.6350. A clear move above the $0.6350 resistance might send the price toward the $0.6550 resistance. The next major resistance is near the $0.6800 level. Any more gains might send the price toward the $0.700 resistance. Another Dip? If XRP fails to clear the $0.6240 resistance zone, it could start another decline. Initial support on the downside is near the $0.600 level and the trend line. The next major support is at $0.5920. If there is a downside break and a close below the $0.5920 level, the price might continue to decline toward the $0.5450 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.6000 and $0.5920. Major Resistance Levels – $0.6240 and $0.6350.
Ripple’s significant donation to Deaton highlights the growing influence of blockchain in politics amid SEC scrutiny.
XRP price started a fresh increase from the $0.540 zone. The price is now rising and eyeing an upside break above the $0.600 resistance zone. XRP price started a fresh increase above the $0.580 zone. The price is now trading above $0.580 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with support at $0.5880 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend gain bullish momentum if it clears the $0.60 resistance zone. XRP Price Eyes More Upsides XRP price remained stable above the $0.540 level and started a fresh increase. There was a move above the $0.5650 and $0.5720 resistance levels but lagged Ethereum and Bitcoin. The price climbed above the 50% Fib retracement level of the downward move from the $0.6374 swing high to the $0.5404 low. The current price action is positive above the 100-hourly Simple Moving Average, but the bulls are now facing resistance near the $0.600 level. There is also a key contracting triangle forming with support at $0.5880 on the hourly chart of the XRP/USD pair. The pair is now trading above $0.5880 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price could face resistance near the $0.600 level. The first major resistance is near the $0.6150 level. The next key resistance could be $0.6370. A clear move above the $0.6370 resistance might send the price toward the $0.650 resistance. The next major resistance is near the $0.6665 level. Any more gains might send the price toward the $0.680 resistance. Another Drop? If XRP fails to clear the $0.600 resistance zone, it could start another decline. Initial support on the downside is near the $0.5880 level and the triangle lower trend line. The next major support is at $0.5650. If there is a downside break and a close below the $0.5650 level, the price might continue to decline toward the $0.540 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5880 and $0.5650. Major Resistance Levels – $0.6000 and $0.6150.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
In a thought-provoking session at the Fortune 2024 BrainstormTech conference, Ripple CEO Brad Garlinghouse addressed the division between Republicans and Democrats in the United States when it comes to crypto policy. Expressing his discontent, Garlinghouse emphasized the need for a unified approach towards innovation, highlighting the importance of crypto technology which supports efficiency and reduces […]