XRP is currently trading slightly above the $0.50 price level, having experienced a significant price decline that erased most of its gains from the previous month. XRP managed to break through the $0.60 price level in a rally last month, although this surge was short-lived, lasting only a few days. Despite this setback, crypto analyst Javon Marks notes that there are still bullish divergence patterns present in the market, suggesting that another breakout could be on the horizon. These patterns indicate potential upward momentum, hinting at a possible recovery and a very optimistic price surge to new all-time highs. Bullish Divergences Are Still Present Crypto analyst Javon Marks recently shared an intriguing XRP technical analysis on the social media platform X with very bullish price prediction targets for the cryptocurrency. According to Marks, the crypto asset recently embarked on a bullish rally, which ultimately turned into an attempted breakout before reversing. The rally he was talking about was XRP’s price journey from $0.4321 in July, which saw it peak at $0.6534 on July 31, according to data from Coinmarketcap. As such, XRP ended up breaking out of a multi-year descending triangle pattern. Related Reading: Explosive XRP Prediction: Analyst Foresees 20-Fold Gain This interesting pattern is shown on Javon Marks’ XRPUSD monthly candlestick chart. The descending triangle pattern, which has been in formation since XRP’s all-time high of $3.4 in 2018, is characterized by a series of lower highs and higher lows. Over the past six years, this pattern has become smaller, reflecting a period of consolidation and reduced volatility. This formation has tightened for the past few months, culminating in the minor breakout in July and a move towards a more bullish outlook for XRP. Although the XRP price now finds itself trading within this region of descending triangular pattern again, Javon Marks remains optimistic. Furthermore, he pointed out an interesting correlation between the price action and the Relative Strength Index (RSI), which is a popular momentum indicator. According to Marks, this correlation suggests that a successful bullish breakout is on the horizon. $XRP recently broke out temporarily which looks to have been only an attempted breakout but, between Price Action and the RSI, there are patterns still present through bull divergences that can suggest a successful bullish breakout to be on the horizon! On a conservative note,… https://t.co/BCrp9CwT6i pic.twitter.com/XGGiv0nBDp — JAVON⚡️MARKS (@JavonTM1) August 6, 2024 Price Targets For XRP According to Marks, a successful breakout would translate into a price range between $15 and $18 on the conservative end. A more intense rally could result in XRP reaching above the $100 price level. His final target on the price chart is $260 for XRP, which represents an increase of 41,780% from the current price level. Rallies of such magnitude are not new to the crypto industry. As Marks noted, we’ve witnessed full logarithmic scale follow-throughs of this nature in the past. The last time the altcoin broke out of a similar multi-year descending triangle pattern was in 2017, resulting in a 42,000% price increase that culminated in its current all-time high. Related Reading: XRP Price Recovery Encounters Hurdles: Will It Prevail? However, realistically speaking, the crypto market has evolved since then. XRP is now one of the largest cryptocurrencies in terms of market cap, and a repeat of such a 40,000% surge is easier said than done. A lone XRP rally of that magnitude would propel XRP to overtake even Bitcoin in terms of market cap, which many market participants would deem impossible. Nevertheless, a sustained XRP rally in the near future is not out of the question. At the time of writing, XRP is trading at $0.5162 and is up by 3% in the past 24 hours. Featured image from Adobe Stock, 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 […]
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.
Crypto analyst Doctor Magic (@Doctor_Magic_) has outlined three reasons for investors to consider buying XRP now. In a series of posts on the X, Doctor Magic detailed the dynamics and data points positioning XRP as a potentially lucrative investment in the current state of the market. #1 Relative Strength Of XRP The crypto analyst highlights the XRP price relative to Bitcoin (BTC) and its resilience in the broader market. “XRP’s strength against BTC and across the board is notable and should not be ignored at this point. When markets turn up again (soon) the pump on XRP will be violent!” This analysis is based on a chart that plots the market cap dominance of as a ratio against BTC and the entire crypto market on a weekly timeframe. The dominance percentage is a critical metric, serving as an indicator of market capitalization relative to BTC, and thus reflects relative investment flows and market preferences. From 2016 to 2021, XRP’s dominance displayed a significant downward trend, suggesting a period during which market preference leaned heavily towards Bitcoin. However, beginning in 2022, this trend leveled off, indicating a potential stabilization or bottoming relative to Bitcoin. This phase suggests that XRP may have found a floor in terms of its market cap dominance, setting the stage for a possible reversal. Related Reading: XRP Ledger Sees Sharp Decline In Major Metric That Threatens To Send XRP Price To $0.2 A key support level for XRP/BTC is identified at 0.00000750 by the analyst. This level has been tested multiple times without a decisive break, establishing it as a critical floor where market sentiment has consistently supported the price relative to BTC. In 2024, following a bounce off this support area, there was a noticeable increase in dominance, suggesting growing investor confidence in its potential for a recovery. In terms of dominance over the entire crypto market (XRP.D), the metric currently stands at 1.47%. After touching down in the support zone ranging from 1.02% to 1.05%, XRP.D also experienced an uptick, further underscoring the renewed market interest and potential bullish sentiment. #2 Recovery Post-Dump With Stable Open Interest Doctor Magic also highlights a notable aspect of the market behavior — its swift recovery from yesterday’s price crash without any increase in open interest (OI). “XRP has now retraced the whole yesterday dump with zero OI added. ZERO. And negative funding,” remarked Doctor Magic. Related Reading: Why XRP Price Won’t Skyrocket After Ripple-SEC Ruling: Crypto Pundit This recovery pattern is significant as it implies the rebound was not fueled by a surge in speculative trading or new positions being opened, but rather by solid buying interest, likely from investors confident in fundamentals or long-term potential. #3 Support From Historical Open Interest Level Finally, the crypto analyst points to the current levels of Open Interest (OI) for XRP, which aligns with a historical baseline that has consistently marked significant market tops and bottoms over the past four years. “OI on XRP at the baseline [blue line] that has marked every top and every bottom the last 4 years,” Doctor Magic notes. This observation suggests that current OI levels are at a critical juncture, indicative of potential turning points in the market. Historically, when OI reaches these levels, it has preceded major price movements. At press time, XRP traded at $0.5030. Featured image created with DALL.E, chart from TradingView.com
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.
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
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 […]
Bitcoin may find buyers close to $56,000, benefitting select altcoins such as SOL, XRP, KAS, and AAVE.
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 price of XRP has recently experienced significant bearish momentum, leading to the breakthrough of a crucial support level at $0.5724. As the cryptocurrency surpasses the key support mark, it signals a significant shift in market sentiment, increasing fears of a continued downtrend. This breach suggests that the selling pressure is intensifying and could lead […]
Former Upbit CEO JP Thieriot publicly endorsed Kamala Harris for President late Thursday via a series of posts on X, causing significant backlash from prominent members of the crypto sector, including popular pro-XRP lawyer Bill Morgan. Thieriot, who stepped down as CEO but remains a Director at Upbit, previously led the company through the controversial […]
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
Positive sentiments around XRP have increased lately due to its recent upward bullish momentum, garnering several audacious predictions from cryptocurrency analysts about the digital asset’s next trajectory on the upside. However, market expert and enthusiast, Crypto Michael, has brushed off the idea that XRP would rise 300 times its current price level, noting that such […]
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
XRP has emerged as a standout performer among the top-100 cryptocurrencies by market capitalization today, recording a substantial 7% increase over the past 24 hours. This surge in XRP’s price occurs amidst swirling speculations of a forthcoming settlement or remedies ruling in the Ripple-SEC case. Amid these developments, XRP is dominating discussions on X (formerly Twitter), where a flurry of optimistic posts paint a bullish scenario for the cryptocurrency. Among the vocal proponents contributing to this positive outlook is crypto analyst Doctor Magic (@Doctor_Magic_), who shared several different time frame analyses for XRP. Short-Term Outlook For XRP (4-Hour Chart) The first chart posted by the crypto analyst shows the XRP/USD trading pair on a 4-hour time frame. The chart highlights the currently most crucial resistance zone (in red) just above the $0.70 mark. This resistance level is critical, as Doctor Magic suggests that surpassing this could pivot XRP towards new all-time highs (ATHs). Related Reading: XRP Price Jumps As Ripple Leadership Blasts SEC’s ‘Hypocritical’ Crypto Regulation However, he warns of potential short-term (LTF) rejections despite the higher time frame (HTF) indicators appearing bullish, advising traders to exercise caution with leverage long positions in this zone. “XRP most heavy resistance, get above that and we go for ATHs. Note that even though HTF XRP is primed on LTF this resistance could cause a LTF rejection, wouldn’t jump into leverage longs here.” The chart shows an uptrend line that XRP has successfully maintained, suggesting a strong bullish momentum. The focal point is the resistance zone above $0.70, which if breached, could potentially lead to higher price levels. The first target could be the price level above $0.90 which was last seen after the summary judgment by Analisa Torres on July 13 last year. A crucial element in Doctor Magic’s analysis is the breakout observed in the Relative Strength Index (RSI). The RSI demonstrates a clear upward breach of its previous trendline, signaling robust momentum. Currently at 67, the RSI is approaching the overbought threshold, which could suggest some notably bullish days ahead for XRP’s price action if the cryptocurrency runs red hot. Related Reading: XRP Price Poised For ‘Ultimate Breakout’ With $18 Price Target: Crypto Analyst Notably, the $0.70 zone as the key resistance area aligns with the Bollinger Bands analysis in the monthly chart. XRP surged above the middle band with the latest move and is now on the verge of breaking the upper band. “Today we confirm the breakout on monthly RSI. XRP is less than 10% to trigger volatility to come back which is at all time lows, $0.7 is the area to watch,” Doctor Magic explained. Long-Term Prediction For XRP (Weekly Chart) With regards to the higher time frames, Doctor Magic believes that it is too early to predict the cycle top price. Via X, he wrote, “Many of you are asking for my target on XRP, the answer is it depends. If I am right and alts lead the next leg up it will be the nail in the coffin for ‘it’s 2017 again’ and I will be looking for two tops, the second one will be determined by the first one.” The chart shared by the crypto analyst highlights several key Fibonacci retracement levels derived from XRP’s historical price movements, which could serve as critical points for potential reversals or continuation of trends. These include the 0.618 Fibonacci level at approximately $0.91, indicating a moderate resistance point. The 0.786 level sits at around $1.61, serving as a stronger psychological and technical barrier. The parity level or the 1 Fibonacci level is set at $3.31, which marked the April 2021 all-time high. Beyond this, the analysis extends into Fibonacci extension territory, with the 1.272 level at about $8.29, and the 1.414 level at roughly $13.37. The most notable and perhaps ambitious target is the 1.618 Fibonacci extension level, which is placed at approximately $26.60. The analyst concluded, “My point is it’s too soon to speak about final target, need more data for that and I will update when its time. For the impatient of you my best guess is we see double digits XRP and that $26.5 will be tagged.” At press time, XRP traded at $0.6539. Featured image created with DALL·E, chart from TradingView.com
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.
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 […]
The analytics firm Santiment has revealed how some prominent altcoins like Dogecoin and XRP compare against each other in holder count. Dogecoin Has Seen Its Total Holder Count Grow To 6.69 Million Recently In a new post on X, Santiment shared the Total Amount of Holders data for various altcoins in the cryptocurrency sector. The […]
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.
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.
The recent positive price movement in XRP appears to have triggered a new wave of investors’ interest regarding the coin. XRP has surpassed the largest crypto asset by market cap, Bitcoin, in trading volume across exchanges in South Korea, indicating a shift in market dynamics in the country. With fresh optimism in the cryptocurrency sector, […]
Tyler and Cameron Winklevoss, the founders of crypto exchange Gemini, have publicly declared significant financial support for John Deaton, a lawyer known for his involvement in the XRP community. On the evening of 18 July, Tyler Winklevoss announced via X that he had donated $500,000 in Bitcoin (equivalent to 8 BTC) to Deaton’s senatorial campaign […]
XRP accounted for almost 40% of all trading activity on top South Korean exchanges from Tuesday to Thursday. Prices surged.
The XRP price has seen a sharp rally of over 39% in the past week as on-chain data shows the sharks and whales have been busy accumulating. XRP Sharks & Whales Now Carry Over 85% Of The Entire Supply According to data from the on-chain analytics firm Santiment, large XRP investors have been participating in buying for a while now. The indicator of relevance here is the “Supply Distribution,” which keeps track of the total amount of supply that a particular wallet group is currently holding. Related Reading: Bitcoin Bullish Signal: NVT Golden Cross Suggests BTC Oversold The addresses or investors are divided into these cohorts based on the number of tokens they carry in their balance. For instance, the 1 to 10 coins group includes all holders who own between 1 and 10 XRP. In the context of the current topic, the combined group of sharks and whales is of interest. The sharks and whales are the two largest cohorts in the sector, so their behavior can be worth keeping an eye on, as it may cause ripples in the market. Naturally, the whales are the more influential of the two groups. Santiment defines the lower bound for the combined sharks and whales group as 100,000 tokens. At the current exchange rate of the cryptocurrency, this is worth around $61,200. Below is a chart that shows the trend in the XRP Supply Distribution for these sharks and whales over the past few months: The above graph shows that the XRP sharks and whales have seen their supply rise over the last few months. These large investors now hold around 51.59 billion XRP, equivalent to around 85% of the entire circulating supply of the cryptocurrency. In terms of the pure balance, the supply of this combined cohort has managed to set a new all-time high (ATH) with the latest increase, while in terms of the percentage, the metric is sitting at an 11-month high. The accumulation from the sharks and whales has persisted in this period regardless of whether the cryptocurrency’s price has been rallying or plunging. This conviction from these key investors is naturally an optimistic sign for the asset. While the coin seems bullish in the long term due to this, another development can be a bearish predictor in the short term. As Santiment has pointed out in another X post, investors have shown hype toward XRP on social media. As the chart shows, the sentiment towards the asset has shot up into positive territory following its recovery rally. Historically, cryptocurrencies have tended to move opposite to the majority’s expectations, so this FOMO can end up as an obstacle to the surge. Related Reading: Bitcoin Hasn’t Reached Bull Cycle Top Yet, Quant Explains Why The analytics firm has also attached the data for the sentiment around Cardano (ADA) in the graph. This altcoin appears to be seeing highly negative sentiment, which could be a bullish sign for it. XRP Price XRP has broken past the $0.61 level after witnessing a more than 41% rally over the past week. Featured image from Dall-E, Santiment.net, chart from TradingView.com
The Mt. Gox distribution will not end the bullish trend, CryptoQuant CEO noted.