The XRP price has struggled in the market over the past year and has failed to reach a new all-time high even after securing partial victories against the US Securities and Exchange Commission (SEC). However, this lackluster price action has not deterred investors, who continue to believe in the long-term potential of the altcoin. One crypto analyst, in particular, expects the coin price to see another bullish wave that could push it toward the $1 price target. XRP Price Ready For Another Bullish Wave Crypto analyst Alan Santana has predicted a bullish future for the XRP price. The analyst shared a recent analysis which took into account the past performances of not just XRP, but also other crypto assets as well, highlighting their recent peaks. Related Reading: Is Solana A Good Buy? Finance CEO Predicts ‘Magnificent’ Autumn Rally The crypto analyst explained that all cryptocurrencies had time for their peaks, and then when they entered a bullish wave. Usually, this bullish wave tends to occur around 8-10 months following the previous peak, meaning that the XRP price is long overdue for a bullish wave. Alan Santana revealed that the last peak for XRP was back in July 2023, when Judge Analisa Torres had ruled that programmatic XRP sales did not qualify as securities offerings. At the time, the XRP price had rallied over $0.7. However, once that bullish wave ended, the altcoin went into a decline that lasted almost one year. Presently, the XRP price has spent a total of 11 months without a bullish wave and given the established average of 8-10 months for cryptocurrencies between each bullish wave, the altcoin may be getting ready for another bullish wave. However, as the crypto analyst explains, not all bullish waves are the same for all crypto assets. This means that even if XRP were to see another bullish wave, it may not be as expected. Nevertheless, Alan Santana expects that the bullish wave will push the price further. How High Can The Price Go? Providing the possible target for where the XRP price may end up from here, the crypto analyst suggests that a 100% move is possible for the altcoin. One of the major targets highlighted is the $0.65, which is around a 50% increase in price from here. Related Reading: Shiba Inu To The Moon: Analyst Predicts A Run Above $0.00015 If This Happens However, that is not the highest the price is expected to go in its next bullish wave. According to Alan Santana’s chart, the XRP price could end up running as high as $0.9442 before it loses steam. From here, it is possible that the price does touch above the coveted $1 level before correcting back downward again. Featured image created with Dall.E, chart from Tradingview.com
Despite a potential breakout, XRP’s price remains tied to developments regarding the lawsuit between the SEC and Ripple.
XRP price is struggling to gain bullish momentum above $0.50. The price must settle above $0.50 and $0.520 to start a steady increase in the near term. XRP price extended losses before it found support near the $0.4765 zone. The price is now trading above $0.4850 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a decent increase if it settles above the $0.50 resistance zone. XRP Price Holds Support XRP price failed to start a fresh increase and again reacted to the downside like Bitcoin. There was a move below the $0.4800 level, but the bulls were active near the $0.4765 level. A low was formed at $0.4765 and the price is now correcting losses. There was a move above the $0.4850 and $0.4900 resistance levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $0.5104 swing high to the $0.4765 low. It is now trading above $0.4850 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4980 level and the 61.8% Fib retracement level of the downward move from the $0.5104 swing high to the $0.4765 low. There is also a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.500. The next major resistance is near the $0.5020 level. A close above the $0.5020 resistance zone could send the price higher. The next key resistance is near $0.5200. If there is a clear move above the $0.520 resistance level, there could be a steady increase toward the $0.5320 resistance. Any more gains might send the price toward the $0.5500 resistance. Another Drop? If XRP fails to clear the $0.4980 resistance zone, it could start another decline. Initial support on the downside is near the $0.490 level and the 100-hourly Simple Moving Average. The next major support is at $0.4850. If there is a downside break and a close below the $0.4850 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.4765 low in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4850 and $0.4765. Major Resistance Levels – $0.4980 and $0.500.
Crypto analyst Egrag Crypto has provided insights into the XRP future trajectory, predicting that the crypto token could rise to three digits. His prediction comes amid a recent spike in XRP’s trading volume, which also provides a bullish case for the crypto token. XRP To Reach $200 At Some Point Egrag suggested in an X (formerly Twitter) post that XRP could reach $200 at some point based on its next triangle consolidation. He stated that in the future, newbies would talk about how XRP’s price has remained stagnant at around $50 (instead of its current price of around $0.50) and that these same persons would complain about XRP pumping from $50 to $200. Basically, the analyst was predicting that XRP will experience exponential growth soon and that XRP newbies will not understand how the crypto token has come a long way, considering how it has remained stagnant for a while now. He claimed these investors will “never comprehend seven years of conviction and dedication.” Egrag acknowledged the frustration regarding XRP’s tepid price action and even mentioned that XRP Ledger (XRPL) builders are “starting to nag and feel frustration.” However, as always, he urged the XRP army to “stay steady.” He suggested that XRP is the token of the future, as he stated that “all previous models will be thrown out the window because they will not apply to the fourth industrial revolution.” Egrag’s analysis comes amid a recent surge in XRP’s derivatives trading volume, with data from Coinglass showing a 300% increase and a total of $3.24 billion traded in the last 24 hours. Additionally, data from CoinMarketCap shows that XRP’s spot trading volume is up by over 200% in the last 24 hours. This development is significant. It shows that crypto investors and traders are actively invested in the crypto token and may be looking to accumulate more XRP during this period, which could contribute to a price rally for the crypto token. Interestingly, XRP is one of the few crypto tokens up in the last 24 hours despite the recent crypto market dip. Another Bullish Outlook Crypto analyst Casi Trades also recently offered a bullish outlook for XRP. She claimed the crypto token looked “very bullish” as it had just come off the golden retracement levels. Casi Trades further stated that the altcoin needs to achieve a “strong breakout” above these resistance levels, noting that such an occurrence will clearly indicate a new trend. She suggested that this could be a big moment for XRP, stating that “this test could be the moment” that the market has been waiting for. Casi Trades sounded optimistic that XRP could achieve this breakout as she stated that Bitcoin had retraced close to the .618 level, which she believes could set the stage for the breakout. Featured image created with Dall.E, chart from Tradingview.com
XRP price dipped but the bulls were active near the $0.4700 support. The price reclaimed the 100-hourly SMA and might continue to rise if it clears $0.4950. XRP price found support at $0.4700 and started a recovery wave. The price is now trading above $0.4800 and the 100-hourly Simple Moving Average. There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise unless it fails to stay above the $0.4820 support zone. XRP Price Aims Higher XRP price failed to clear the $0.520 resistance and reacted to the downside like Bitcoin and Ethereum. There was a sharp decline below the $0.500 and $0.4850 support levels. There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair. However, the bulls took a stand near $0.4700. The price started another upward move from the $0.4700 low. There was a move above the $0.4750 and $0.4820 resistance levels. The price even cleared the 23.6% Fib retracement level of the downward move from the $0.5202 swing high to the $0.4700 low. The price is now trading above $0.4800 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4950 level and the 50% Fib retracement level of the downward move from the $0.5202 swing high to the $0.4700 low. The first key resistance is near $0.500. The next major resistance is near the $0.520 level. A close above the $0.520 resistance zone could send the price higher. The next key resistance is near $0.5320. If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5500 resistance. Any more gains might send the price toward the $0.5550 resistance. Another Decline? If XRP fails to clear the $0.4950 resistance zone, it could start another decline. Initial support on the downside is near the $0.4865 level and the 100-hourly Simple Moving Average. The next major support is at $0.4820. If there is a downside break and a close below the $0.4820 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.4550 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.4820 and $0.4700. Major Resistance Levels – $0.4950 and $0.500.
Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
Bitcoin is facing intense selling pressure, but charts suggest strong support at $64,500 and again at $60,000.
The SEC argued Ripple’s proposed lower civil penalty wouldn’t be enough, and there’s no comparison to its settlement with Terraform Labs.
A glimmer of hope emerged for Ripple Labs this week in their ongoing legal battle with the SEC. The Securities and Exchange Commission slashed its proposed settlement amount from a staggering $2 billion to a more manageable $102.6 million. While this represents a significant concession, Ripple still faces a tough decision: accept the deal and […]
This week’s Crypto Biz explores the corporate battle between Riot Platforms and Bitfarms, Tether’s $1 billion budget for startups, Ripple Labs’ new custodian deal, and more.
Bitcoin and several altcoins are getting sold into rallies, increasing the risk of a downside breakdown.
Crypto firm Ripple has referenced the recent settlement between the US Securities and Exchange Commission (SEC) and Terraform Labs to challenge the financial regulator’s proposed $2 billion penalty. On June 13, Ripple filed a notice of supplemental authority with Judge Analisa Torres of the Southern District of New York, arguing that the SEC’s demands against […]
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It is no longer surprising that the XRP price movement has stagnated around $0.5 in the past few months despite various positive developments for Ripple. This lackluster price action has left many XRP investors feeling wanting, especially considering the positive price action of other cryptocurrencies. Sean McBride, a former director at Ripple, believes XRP is unlikely to register a significant breakout until Ripple’s ongoing lawsuit with the SEC concludes. Ongoing SEC Lawsuit Weighs Heavily On XRP Ripple’s legal battle with the SEC has been dragging on for over three years, and it continues to cast a dark cloud over XRP’s price. Ripple scored a partial win in July 2023 when Judge Torres decided that XRP to retail investors is not a security. This decision resulted in a temporary increase in the price of XRP to $0.90. However, the embattled crypto token now finds itself stuck below $0.50, unable to break out despite various rebounds and periods of dominance by the bulls. Related Reading: Crypto Analyst Predicts Cardano Price Will Rally 370% To $2, Here’s The Timeline A recent example of this repetition was observed in the past 30 days when a period of bull dominance saw XRP trading just above the $0.5 price mark for three weeks. However, like before, XRP’s price has failed to maintain its position above this level, and the crypto now finds itself trading around $0.48. As McBride noted on social media, nothing significant will happen to XRP’s price until Judge Torres makes her decision. This is in relation to the pending decision on whether the sale of XRP to institutional investors qualifies as the sale of securities. According to the former Ripple director, a clear judgment from the judge would finally enable institutional investors to decide their stance on Ripple and XRP. “Nothing significant is going to happen with the price of XRP until Judge Torres makes her decision,” McBride said. “This could open up the door for US institutions working with Ripple to ‘flip the switch’,” he continued. I think I’ve mentioned this before. Nothing significant is going to happen with the price of XRP until Judge Torres makes her decision. So anyone expecting anything different is delusional. The next big piece of this is clear legislation in the US. Hopefully that is on the way… — Sean McBride (@seanmcbride16) June 11, 2024 What Will It Take For XRP Price To Break Out of Its Slump? Before XRP can truly break out of its slump, the lawsuit with the SEC must be resolved. As long as the case drags on, uncertainty will hang over the token and suppress the price. A settlement or victory for Ripple would remove this roadblock and likely send the price of XRP surging. Of course, XRP would need to outperform the market to compensate for lost ground over the past three years. However, a loss could deal a major blow to XRP and cause the price to plummet further. Related Reading: Bitcoin Price Prediction: Major Analysts Say BTC Is Headed For 6-Digit ATH According to one crypto analyst known as EGRAG CRYPTO, it is only a matter of time before all the rotational profits start flowing into XRP. This, in turn, would lead to XRP’s price breaking out of a descending triangle and pushing towards a target of $7.5.
Ripple, known for its enterprise blockchain solutions, and Archax, the UK’s first Financial Conduct Authority (FCA) regulated digital asset exchange, broker, and custodian, have announced a significant extension to their partnership. This extension aims to tokenize hundreds of millions of dollars of real world assets (RWAs) using the XRP Ledger (XRPL), positioning XRPL as a […]
Ripple CEO Brad Garlinghouse has announced the name of the company’s upcoming stablecoin at the XRP Ledger Community Summit (XRPL Apex) in Amsterdam. During a panel discussion, Garlinghouse stated: “The name of the Ripple stablecoin [is] RLUSD; I like to call it Real USD or Ripple USD.” While Garlinghouse did not disclose the launch date, […]
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XRP price extended losses and traded below the $0.50 zone. The price tested the $0.4700 zone and is currently attempting a short-term recovery wave. XRP is slowly moving higher from the $0.470 support. The price is now trading below $0.4850 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.480 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could recover, but the bears might be active near the $0.4880 resistance. XRP Price Finds Support XRP price failed to recover above the $0.4880 resistance like Ethereum and Bitcoin. The price extended losses below the $0.480 level. It even tested the $0.470 zone. A low was formed at $0.4701 and the price is now eyeing a short-term recovery wave. There was a move above the $0.4750 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.5053 swing high to the $0.4701 low. Besides, there was a break above a connecting bearish trend line with resistance at $0.480 on the hourly chart of the XRP/USD pair. However, it is still trading below $0.4850 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4850 level. The first key resistance is near $0.4880 or the 50% Fib retracement level of the downward move from the $0.5053 swing high to the $0.4701 low. The next major resistance is near the $0.4920 level. A close above the $0.4920 resistance zone could send the price higher. The next key resistance is near $0.50. If there is a close above the $0.50 resistance level, there could be a steady increase toward the $0.5050 resistance. Any more gains might send the price toward the $0.5250 resistance. More Losses? If XRP fails to clear the $0.4850 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4750 level. The next major support is at $0.470. If there is a downside break and a close below the $0.470 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4550 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.4750 and $0.4700. Major Resistance Levels – $0.4850 and $0.4920.
Ripple has officially finalized its acquisition of Standard Custody & Trust Company, a regulated entity providing high-grade digital asset custody solutions. This acquisition, first announced earlier this year, has received the green light from all necessary regulatory bodies, including the New York Department of Financial Services (NYDFS), which oversees the operation of limited-purpose trust companies. […]
Ripple announced the creation of the XRPL Japan and Korea Fund on June 11, 2024, marking a major strategic move to deepen its engagement with blockchain innovation in East Asia. This initiative is part of a broader commitment from Ripple, allocating 1 billion XRP (worth approximately $490 million) to support various activities that catalyze the […]
Crypto analyst Chad Steingraber has made an ultra-bullish price prediction for the XRP price, stating that the crypto token’s price could rise to three figures. The analyst also outlined when this price target will be attained. XRP Will Hit $250 In This Market Cycle Steingraber mentioned in an X (formerly Twitter) post that XRP will reach $250 by 2025, which he believes will represent the market top for the crypto token in this bull run. He made this prediction while stating that Bitcoin and Ethereum will hit $250,000 and $25,000 in 2025, which will also be their market top. Related Reading: Crypto Analyst Gives Reasons Why A Face-Melting Bull Run Is On The Horizon Steingraber has previously provided several reasons why he is so bullish on XRP and believes the crypto token could attain such heights. He once alluded to a potential XRP ETF as one factor that could trigger significant price surges for XRP. He explained that an XRP ETF would give the crypto token an added utility as fund issuers for the XRP ETFs will direct their assets into an institutional liquidity hub. He believes an XRP ETF will drive more demand for the crypto token, ultimately driving up its price when a supply shock occurs. Steingraber also believes that the Securities and Exchange Commission’s (SEC) lawsuit against Ripple is one of the factors suppressing XRP’s price up until now. He had earlier claimed that XRP’s price wasn’t going up because new money wasn’t flowing into its ecosystem and affirmed that the crypto token would likely see an influx of new money once the SEC’s case against Ripple is over. Steingraber isn’t the only one who believes that XRP’s price could skyrocket and climb to three figures once the lawsuit ends. Crypto analyst JackTheRippler also predicted that XRP would rise above $100 once the case ends. The analyst even gave a more bullish prediction than Steingraber’s, stating that XRP hitting $10,000 was achievable after the lawsuit. Crypto analyst CryptoBull also predicted that XRP could reach three figures, rallying 28,900% to $154. XRP Price To $7.5 In The Meantime Crypto analyst Egrag Crypto has suggested that XRP rising to $7.5 is the price target to watch before the crypto token reaches the heights analysts like Steingraber predict. In an X post, he stated that “$7.5 is target number 1.” Egrag went on to outline how this move to $7.5 will likely take place. Related Reading: Litecoin Sees Massive 75% Surge In Major Metric – Can This Trigger A Rally To $200? He stated he is highly convinced that XRP will break the white triangle (on the chart he shared) and hit the measured move at $1.5. From there, he expects XRP to make its move to $7.5. However, he warned that the Fib 1.618 zone where $7.5 is situated is “critical” and that a lot of profit-taking will happen there, suggesting that XRP could significantly decline once it reaches such heights. Egrag added that the next targets for XRP will be “mid-double digits near Fib 2.414 & 2.618” if XRP archives a weekly close above Fib 1.618. Featured image created with Dall.E, chart from Tradingview.com
The Ripple Chief Technology Officer (CTO) David Schwartz has responded to rumours that the Company might be considering abandoning its association with the XRP token. The crypto firm has so far provided XRP with its major utilities, and such rumors could negatively impact its price. Ripple Is Not Abandoning XRP Schwartz clarified in an X […]
XRP price declined heavily from the $0.5250 resistance zone. It tested the $0.4540 support zone and is now attempting to recover above $0.4880. XRP is correcting losses above the $0.4820 and $0.4840 levels. The price is now trading below $0.5050 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could dip again if it stays below the $0.5050 resistance zone. XRP Price Takes Hit XRP price started a major decline like Ethereum and declined below the $0.50 support. The price even spiked below the $0.4650 support zone. A low was formed at $0.4533 and the price is now correcting losses. There was a move above the $0.470 and $0.4750 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. There is also a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair. The pair is slowly moving above the 61.8% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. However, it is still trading below $0.5050 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.500 level. The first key resistance is near $0.5050. The next major resistance is near the $0.5120 level. A close above the $0.5120 resistance zone could send the price higher. The next key resistance is near $0.5250. If there is a close above the $0.5250 resistance level, there could be a steady increase toward the $0.5320 resistance. Any more gains might send the price toward the $0.550 resistance. Another Drop? If XRP fails to clear the $0.5050 resistance zone, it could start another decline. Initial support on the downside is near the $0.4950 level and the trend line. The next major support is at $0.4900. If there is a downside break and a close below the $0.490 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4740 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4950 and $0.4900. Major Resistance Levels – $0.500 and $0.5050.
Ripple has again raised concerns in the XRP community following its recent XRP sale. This comes amid XRP’s unimpressive price action, which continues to paint a bearish outlook for the crypto token. Ripple Sells 150 Million Tokens On-chain data shows that the crypto firm offloaded 150 million XRP tokens ($78 million) on June 7. These tokens formed part of the 1 billion XRP tokens, which were recently unlocked as part of its monthly escrow unlock, which is set to continue until 2027. As expected, this sale has raised concerns, considering the impact many believe it could have on the market. Related Reading: Bitcoin On The Verge As Global Liquidity Nears New $100 Million ATH Moreover, this sale follows Ripple’s recent unusual transactions, when the crypto firm moved 3 billion XRP tokens ($1.5 billion) across different wallets in the space of 30 minutes. However, crypto analyst Michael Nardolillo explained that those transactions were mainly internal movements and escrow re-lockups. This recent sale of $150 million XRP tokens will again raise the theory of price suppression by Ripple. While it has been revealed that the crypto firm’s XRP sales have no impact on prices on crypto exchanges, it undoubtedly adds to the bearish sentiment that crypto investors already have towards the token. Furthermore, Ripple’s XRP sales lead to a positive supply shock, with more XRP tokens being injected into circulation. Such development tends to have a negative impact on a crypto’s price and could lead to significant price declines. It is also worth mentioning that this sale comes at a time when the market sentiment towards XRP is as bearish as it can be. This is partly thanks to the fact that the crypto token remains one of the worst-performing crypto assets since the year began, with a year-to-date (YTD) loss of over 18%. XRP Will Still Be Great Despite XRP’s unimpressive price action, crypto analysts have continued to predict the crypto token will still have its moment when it will experience that price breakout and make a parabolic move to the upside. Crypto analyst Javon Marks recently mentioned that the XRP is about to make a name if it hadn’t already done so. Related Reading: Is A Bitcoin Crash Below $50,000 Still Possible? Crypto Analyst Shares The Possibilities He made this statement while revealing that a Hidden Bullish Divergence setup had formed on the altcoin’s chart. He claimed that XRP’s price went up by over 63,000% in less than a year the last time this happened. He suggested that such a move could be on the horizon again with XRP at its breaking point. Meanwhile, Crypto analyst CryptoBull also recently predicted that the cryptocurrency could enjoy a 28,900% rally and rise to $154. At the time of writing, XRP is trading at around $0.49, down over 4% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Egrag Crypto has revealed a bullish pattern that recently formed on the XRP price chart. The analyst also revealed how high the crypto token could rise once it makes this move to the upside. Inverted Hammer Forms On The Chart Egrag highlighted an Inverted hammer that had formed on XRP’s chart while noting how bullish this was for the crypto token. He claimed that last month’s candle formation showed a 75% Inverted Hammer at the bottom, which is “super bullish” for XRP. Egrag believes this is an “amazing sign” that the altcoin could rise to $0.75 soon enough. He added that July will be a “month of fireworks” for XRP. Related Reading: Bitcoin Price Surge To $71,000 Sends All Long-Term Holders Into Profit, What About Short-Term Holders? XRP’s possible rise to $0.75 is significant, as Egrag had previously highlighted that price level as a “critical breakout point” for XRP. Back then, he mentioned that XRP was “poised” to achieve this breakout in the coming weeks. He suggested an XRP breakout above that price level would send it to $1.5, and the crypto token could enjoy a further upward trend to $7.5. Crypto analyst CasiTrades also recently provided a bullish narrative for the altcoin. She stated that the crypto token is maintaining its bullish momentum and bouncing off the 0.382 retracement level. The analyst added that XRP has finally flipped a trendline that had acted as resistance for months to support. Meanwhile, CasiTrades highlighted $0.54 as a price level to keep an eye on, stating that XRP could encounter resistance at that level. She suggested that the coin could enjoy a parabolic move if it breaks out above that price level, remarking that it is a “crucial level to watch for a potential breakthrough.”CasiTrades previously raised the possibility of the altcoin rising to as high as $80 when it breaks out from a consolidation triangle. XRP Is On The Brink Of A Parabolic Rally Crypto analyst Mikybull Crypto recently suggested that XRP was on the brink of a parabolic rally. He stated in an X post that the token is currently at the level it was in 2017 and 2020, which triggered a “massive rally” for the crypto token on both occasions. In 2017, the altcoin enjoyed a price gain of 61,000% in 280 days. Related Reading: Shiba Inu Open Interest Returns To February 2024 Levels, What Happened Last Time? The chart that Mikybull Crypto shared showed that the altcoin could rise to as high as $5. Meanwhile, crypto analyst XRP Captain claimed that the altcoin was ready for the “massive breakout.” He claimed that XRP is in the “middle of apex. ” Crypto analyst Jaydee also agreed with XRP Captain that a breakout is imminent, stating that “it’s coming,” although he claimed that “beginners” will miss out on the run. At the time of writing, XRP is trading at around $0.52, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Despite the unimpressive XRP price action, this crypto analyst has predicted that the crypto token could witness a God candle that will send its price to unprecedented heights. The analyst also suggested when this parabolic move will happen. XRP Price To Rise To $30 Soon Enough Crypto analyst DustyBC shared a chart on his X (formerly Twitter) platform in which he predicts that XRP will experience a God candle that will send its price to 30, representing about a 4,000% price gain for the crypto token. Interestingly, the crypto token suggested that this move will happen sometime this year. Related Reading: Bitcoin, Ethereum On Exchanges Drop To New Lows, What A Supply Squeeze Would Mean For The Market DustyBC’s prediction is based on a symmetrical triangle, showing how XRP has been consolidating for years and is well primed for a breakout. Given how lengthy this consolidation has been (since 2017), the analyst believes that such a parabolic rise is possible. Crypto analyst CasiTrades also thinks that XRP can record such price gains. She mentioned in an X post that XRP is about to “complete its 2245-day triangle,” which could present a chance of a lifetime. She had previously raised the possibility of XRP rising to as high as $80 when it breaks out of the consolidation triangle. CasiTrades also recently mentioned that XRP had consolidated even further over the past few days, claiming that a breakout was imminent. The crypto analyst also alluded to XRP’s “interesting” Relative Strength Index (RSI) as another reason to be bullish on the crypto token. She acknowledged that XRP’s price hasn’t changed much but noted that there are signs for an imminent breakout. Crypto analyst Egrag Crypto also recently revealed that XRP’s RSI has dropped to its lowest in history while highlighting how bullish this was for the crypto token. XRP currently has a low RSI, which suggests that the crypto token is undervalued and could rise soon enough to attain its fair value. Meanwhile, Egrag charted two paths that XRP could follow as it rises to a price target of $7.5. XRP Is About To Make A Name For Itself Crypto analyst Javon Marks recently suggested that XRP is about to go parabolic, stating, “If XRP hasn’t already made a name for itself, it sure looks as if it’s about to do so now.” He made this statement while revealing a Hidden Bullish Divergence that had formed on XRP’s chart. He claimed that XRP saw a price gain of over 63,000% in less than one year the last time this setup formed on the charts. The crypto analyst added that such price gain is possible again, with XRP currently at its breaking point. Marks had previously predicted that XRP could enjoy a 33,000% price gain, sending it above $200. Related Reading: Can Bitcoin Rise 150% From Here? Crypto Expert Peter Brandt Predicts The Top At the time of writing, XRP is trading at around $0.52, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Simon McLoughlin, the Chief Executive Officer (CEO) of Uphold, a cloud-based financial services platform, has expressed optimism about the XRP price outlook despite the cryptocurrency’s stagnant price. McLoughlin predicts that the XRP price could surge as high as $10,000, surpassing the value of the world’s second-largest cryptocurrency, Ethereum. XRP Price To Reach $10,000 A crypto […]
The XRP price has been a constant point of worry for investors given that the altcoins seems to be frozen in time. The last time that the coin rallied was in the 2017-2018 bull and even though there has been another massive bull market since then, XRP failed to follow the rest of the market. While expectations for the altcoin have dropped dramatically, one analyst believes that the cryptocurrency could finally have its time in the spotlight, revealing targets for when this does happen. Why XRP Could Be Gearing Up For A Bull Rally Crypto analyst CryptoManiac101 took to the TradingView platform to share a rather interesting view of the XRP price going forward. The analyst pointed out a number of indicators that suggest that the altcoin may finally be getting ready to move. One of the major points in the analysis was the price levels and movements so far. Related Reading: Bitcoin Enters Dreaded ‘Chop Season’ – What Does This Mean For Price? The crypto analyst points out a convergence of three different moving averages in the year 2024. At the end of this is the formation of a symmetrical triangle pattern outlined in the chart. Furthermore, the convergence, which is happening around $0.51, suggests that there is consolidation going on. Now, usually, consolidation will come with accumulation, which is often good for the price, and the analyst points out that interest is rising. Going further, the crypto analyst points to the performance of XRP over the last 11 years. This begins from 2013 and moves to present time, showing how the performance of XRP has actually flattened during this time. “Significant historical price spikes, particularly in 2017 and 2018, are visible, which is what we are looking at for 2024 and 2025 years as we see some movement consistency between the two cycles,” the analyst stated. With interesting rising, these indicators could point toward an important breakout for the price. If this happens, the crypto analyst has outlined targets for how high the price could go. How High Can The Price Go? One major factor in the analyst’s prediction is the fact that such historical patterns have been previously bullish for XRP to have returned. The analyst points out that a rally usually breaks out when these patterns have seen a 75% completion. However, the current patterns have reached 88.93% completion, suggesting that a breakout is long overdue for the XRP price. Related Reading: Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin In the event of a rally, the crypto analyst expects an at least 800% increase in price above $4. This future prediction is based on the potential of a breakout from the symmetrical triangle forming at the convergence of the three moving averages. In this case, the analyst expects a rally to $4.5 as a starting point.
Bitcoin and select altcoins are attempting to break above their respective resistance levels, signaling aggressive buying by the bulls.
Crypto analyst Egrag Crypto has provided another bullish narrative for the XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, potentially sending it as high as $7.5. This comes with the recent revelation that XRP’s Relative Strength Index (RSI) has reached its lowest ever. Time For An XRP Price Breakout Egrag Crypto shared a chart in an X (formerly Twitter) post that showed that the crypto token could rise to $7.5 when it accomplishes the breakout, which the crypto analyst claimed is imminent. Egrag highlighted a “White Triangle” breakout on the chart, which he stated is “aligning perfectly” with the previous charts and the Fib 0.702 to 0.786 levels. He added that the measured move is projected to be between $1.2 and $1.5 before XRP could take off and climb to $7.5. Egrag further remarked that the “critical breakout point” for XRP is around $0.70 and $0.7’5 and that the crypto token is “poised” to achieve this breakout in the “next couple of weeks. Egrag warned that XRP could still experience significant declines before then, stating that a retest of the breakout might be on the cards. However, he is convinced that a “MEGA RUN for XRP is on the horizon.” Meanwhile, for the second scenario of how XRP could achieve its impending breakout, Egrag Crypto highlighted an ‘Atlas Line’ on the XRP chart and claimed that the breakout point for XRP is at $0.6799. He noted that XRP is still holding strong “like a boss” on the atlas line, suggesting it shouldn’t be long before it breaks above $0.6799. In the meantime, $0.5777 and $0.5000 are key price levels that XRP holders should monitor. Egrag labels them resistance and support levels for XRP’s upward trend along this atlas line. XRP Hits Its Lowest RSI In History Egrag revealed in a more recent X post that XRP’s RSI is at its lowest ever. He noted that this assertion was based on the monthly time frame and shared a chart to prove his claim. Following his revelation, Egrag highlighted how bullish this was for XRP, stating, “If this isn’t a positive signal, I don’t know what is.” The chart he shared showed that XRP’s Relative Strength Index is at 38, which is indeed bullish for the crypto token. Low RSI levels are considered a buy signal since they suggest that the coin is oversold and undervalued. Therefore, crypto investors might be looking to accumulate XRP, with these buy orders expected to trigger a move to the upside for the crypto token. At the time of writing, XRP is trading at around $0.52, up almost 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
XRP price extended losses below the $0.5220 support zone. It tested the $0.5120 support and now attempting another recovery wave toward $0.550. XRP is struggling to start a fresh increase above the $0.5320 resistance zone. The price is now trading below $0.530 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $0.5230 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if the price stays below $0.5320. XRP Price Dips Further XRP price remained in a short-term bearish zone like Bitcoin and Ethereum. The bears were able to push the price below the key support at $0.5220. Finally, the price tested the $0.5120 support zone. A low was formed at $0.5126 and the price is now attempting a fresh recovery wave. There was a move above the $0.5165 level. The price climbed above the 23.6% Fib retracement level of the downward wave from the $0.5406 swing high to the $0.5126 low. However, the price is still trading below $0.530 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.5220 level. There is also a major bearish trend line forming with resistance near $0.5230 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5265 or the 50% Fib retracement level of the downward wave from the $0.5406 swing high to the $0.5126 low. A close above the $0.5265 resistance zone could send the price higher. The next key resistance is near $0.5320. If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5450 resistance. Any more gains might send the price toward the $0.5650 resistance. More Downsides? If XRP fails to clear the $0.5220 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5150 level. The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.50 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5120 and $0.500. Major Resistance Levels – $0.5220 and $0.5320.
Ripple Labs has escalated its defense against the US Securities and Exchange Commission (SEC) by specifically addressing two critical arguments from the SEC in their ongoing legal dispute, as outlined in a new filing submitted to Judge Analisa Torres of the Southern District of New York. This filing comes at a decisive moment, with the […]