The cryptocurrency market continues to navigate choppy waters, with many digital assets experiencing significant price drops. However, XRP seems to be charting a different course. While the broader market sentiment remains cautious, large investors, often referred to as “whales,” have been quietly accumulating XRP. This bullish behavior by whales, coupled with positive technical indicators, has some analysts predicting a potential surge for XRP in the coming months. Related Reading: Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage XRP Whales Dive Deep: A Sign Of Confidence Or Opportunism? According to data from Santiment, a blockchain analytics firm, the holdings of XRP whales (addresses holding over 1 billion tokens) have grown from nearly 40% in mid-June to 42% at the time of writing. This significant increase in whale accumulation suggests a growing level of confidence in XRP’s future potential. The recent buying spree by whales could be interpreted in two ways: It could be a sign that they believe XRP is undervalued and poised for a rebound. Alternatively, they might see the current dip as an attractive buying opportunity. While the intentions behind the whale activity remain unclear, the impact is undeniable. The influx of large buy orders can help stabilize the price and even trigger a short-term rally. However, analysts caution that whale activity alone cannot guarantee a sustained price increase. Long-Term Holders Stay Put Beyond whale movements, on-chain analysis offers further insights into XRP’s potential trajectory. Dormant circulation, a metric that tracks the movement of tokens held in long-term storage, paints a promising picture. Currently, the dormant circulation of XRP is low, indicating that long-term holders are not offloading their assets. This suggests a belief in the long-term viability of the Ripple ecosystem and a potential reluctance to sell at current prices. The low dormant circulation is a positive sign. It indicates that long-term holders are holding onto their XRP, which can help prevent a further price decline. This could create a solid foundation for a future price increase. Related Reading: Dogecoin Decimated: $5 Million Liquidation Sparks 14% Price Plunge What Do Technical Charts Say? Technical analysis, which studies historical price data and chart patterns, also offers a glimmer of hope for XRP bulls. The Relative Strength Index (RSI), a momentum indicator, currently suggests that XRP is oversold. This could be a sign that a price rebound is imminent. The price of XRP was $0.41 at the time of writing, data from Coingecko shows. This is a drop of 4.82% over the previous day. However, given the recent whale activity, the value may level off at the indicated price or maybe move toward $0.45. A Cautiously Optimistic Projection While the recent whale accumulation, low dormant circulation, and positive technical indicators paint a cautiously optimistic picture for XRP, the cryptocurrency market remains unpredictable. The success of XRP’s potential surge will hinge on several factors, including broader market sentiment, regulatory clarity surrounding Ripple’s ongoing legal battle with the SEC, and any unforeseen events that could impact the market. Featured image from Pexels, chart from TradingView
XRP price tumbled and dived below the $0.400 support zone. The price is consolidating losses and might struggle to recover above the $0.4150 resistance. XRP price gained bearish momentum below the $0.4240 support zone. The price is now trading below $0.4250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.4150 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might recover, but the upsides might be limited above $0.4050 and $0.4150. XRP Price Takes Hit XRP price struggled to clear the $0.4550 resistance and started a fresh decline, like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.4240 support. The pair even declined heavily below the $0.4150 support level. Finally, it even spiked below the $0.400 support. A low was formed at $0.3826 and the price is now correcting losses. There was a recovery wave above the $0.3920 resistance. The price climbed above the 23.6% Fib retracement level of the recent decline from the $0.4467 swing high to the $0.3862 low. It is now trading below $0.4250 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4050 level. The first major resistance is near the $0.4150 level and the 50% Fib retracement level of the recent decline from the $0.4467 swing high to the $0.3862 low. There is also a key bearish trend line forming with resistance at $0.4150 on the hourly chart of the XRP/USD pair. The next key resistance could be $0.4220. A clear move above the $0.4220 resistance might send the price toward the $0.4380 resistance. The next major resistance is near the $0.4450 level. Any more gains might send the price toward the $0.4650 resistance. More Losses? If XRP fails to clear the $0.4150 resistance zone, it could start another decline. Initial support on the downside is near the $0.390 level. The next major support is at $0.3850. If there is a downside break and a close below the $0.3850 level, the price might continue to decline toward the $0.3620 support in the near term. 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 – $0.390 and $0.3850. Major Resistance Levels – $0.4050 and $0.4150.
A crypto analyst has identified key indicators that point to a substantial rally for XRP, the native token of the XRP Ledger (XRPL). According to the analyst, XRP is poised to rebound from its bearish trends and soar to new all-time highs XRP To Mirror 2017 Rally To New Highs In an X (formerly Twitter) post in June, crypto analyst, Tylie Eric expressed bullish optimism about XRP, emphasizing the cryptocurrency’s potential for a major rally this year. He shared an XRP price chart depicting the cryptocurrency’s price movements from as early as 2014 to 2025. Related Reading: British Mega Bank Standard Chartered Says Bitcoin Will Hit $100,000, Here’s When Eric disclosed that XRP has met all the necessary requirements and conditions to support a potential bull rally to new highs. The analyst also revealed that XRP is completely prepared to continue with “wave 3 and wave 5” of the renowned Elliott Wave Theory. The Elliott Wave Theory is a tool used to determine price movements in a cryptocurrency. The technical analysis is based on viewing long-term recurrent price patterns in a cryptocurrency. In his post, Eric disclosed that XRP was currently displaying similar patterns and conditions to those seen during its bull rally in 2017. Earlier in 2017, XRP witnessed a massive price rally, which preceded its surge to new all-time highs of $3.84 in 2018. Eric has suggested that XRP’s price action was displaying the same bullish patterns, as a result, he has projected a substantial price increase to $36.36 before the end of 2024. The analyst also revealed that XRP will have to witness a whopping 7,637.22% surge for it can reach the projected price target. Despite being a cryptocurrency analyst, Eric is an avid supporter of the XRP cryptocurrency. The analyst has constantly made bullish predictions for the altcoin, anticipating potential rebounds from bearish sentiment. Moreover, the crypto analyst revealed in his earlier post that XRP’s price action was significantly “boring.” This could be attributed to the cryptocurrency’s recent downward spiral. As of writing, the price of XRP is trading at $0.45, reflecting a 4.12% decrease in the past 24 hours and a 11.71% drop over the past month. The popular cryptocurrency has continually recorded steep declines since the beginning of June. Previously, the cryptocurrency was consolidating slightly above $0.5, however now the cryptocurrency is on a major downward trend, triggered by market volatility and Ripple’s ongoing legal battle with the United States Securities and Exchange Commission (SEC). Bullish Sentiment Rises Despite its waning value, XRP’s bullish sentiment from crypto analysts continues to rise. A particular crypto analyst identified as ‘Egrag Crypto’ predicted that the altcoin was getting closer to the Fibonacci (Fib) 1.618. The analyst disclosed that this unexpected development could indicate possible areas for a price reversal or continuation in XRP. Related Reading: Bitcoin Price Crash Is Buy Opportunity As Wallets Holding 10+ BTC Reaches New ATH Egrag Crypto also shared a price chart depicting XRP’s price actions from 2014 to 2024. In his post he emphasized that if history repeats itself XRP could potentially see a price surge to $27. The analyst has urged investors to remain prepared and optimistic about XRP’s projected surge to to $27. Featured image created with Dall.E, chart from Tradingview.com
On July 3, 2024, Ripple Labs introduced a significant enhancement to its API environment called the “Try It” feature, now part of the Ripple Payments API documentation. This development marks a pivotal change in how developers can interact with the APIs by allowing them to execute real-time tests without the necessity for logins or real […]
XRP price extended losses and tested the $0.4440 support zone. The price is correcting losses sharply and might soon retest the $0.4720 resistance. XRP price is correcting losses from the $0.4440 support zone. The price is now trading below $0.4650 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $0.480 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might climb higher again if it stays above the $0.450 support zone. XRP Price Revisits Support XRP price struggled to clear the $0.4850 resistance and started a fresh decline, like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.470 support. There was a break below a key bullish trend line with support at $0.480 on the hourly chart of the XRP/USD pair. The pair even declined heavily below the $0.4550 support level. However, the bulls protected the $0.4440 support level. A low was formed at $0.4439 and the price is now correcting losses. There was a recovery wave above the $0.4520 resistance. The price climbed above the 23.6% Fib retracement level of the recent decline from the $0.4878 swing high to the $0.4439 low. It is now trading below $0.4650 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4620 level. The first major resistance is near the $0.4650 level and the 50% Fib retracement level of the recent decline from the $0.4878 swing high to the $0.4439 low. The next key resistance could be $0.4720. A clear move above the $0.4720 resistance might send the price toward the $0.4850 resistance. The next major resistance is near the $0.500 level. Any more gains might send the price toward the $0.5250 resistance. Another Decline? If XRP fails to clear the $0.4650 resistance zone, it could start another decline. Initial support on the downside is near the $0.4520 level. The next major support is at $0.4440. If there is a downside break and a close below the $0.4440 level, the price might continue to decline toward the $0.4320 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 – $0.4520 and $0.4440. Major Resistance Levels – $0.4620 and $0.4650.
Pro-XRP lawyer Fred Rispoli, founder of HODL Law, has made a stunning prediction on X regarding a potential verdict in the Ripple vs. SEC case. Rispoli noted a recent filing case, specifically Ripple’s Notice of Supplemental Authority regarding the recent Binance decision by the US District Court for the District of Columbia. The court’s decision […]
Ripple Labs has filed a notice of supplemental authority to bolster its stance in the enduring legal face-off with the Securities and Exchange Commission (SEC). This filing was made to the United States District Court for the Southern District of New York in response to the SEC’s motion seeking remedies and final judgment. Ripple Uses […]
The XRP price continues to remain suppressed under the heat of the Ripple vs. the United States Securities and Exchange Commission (SEC) legal battle. This suppressed price action has continued to discourage investors when its comes to the altcoin. However, not everyone has succumbed to the bearish pressure, as crypto analyst RLinda believes that the XRP price could be attempting a decoupling that could lead to a price breakout from here. XRP Price Decoupling Could Trigger Price Crypto analyst RLinda has forecasted a bullish picture for the XRP price where the altcoin could completely break out of its sluggish movement. The analysis which has now spanned a number of a days flows through XRP’s performance over the last year and how it has suffered crashes even when others in the market were reaching new all-time highs. Related Reading: Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level While the coin continues to be bogged down by the Ripple vs. SEC battle, crypto analyst RLinda believes that the XRP price could be reaching a possible decoupling. She explains that this is happening not just technically but fundamentally as well. A possible decoupling is bullish for the XRP price, given that it would be the start of a major price rally. Using the 1-Week chart, the crypto analyst highlights some technical developments that could be important to this possible decoupling. The first of these is that XRP is still testing the “Wedge resistance with the aim of breaking it.” Also, RLinda points out that volatility is decreasing as the consolidation is continuing at this point. However, this consolidation could be the reason that the price begins another rally. As for where the price could go from here, the crypto analyst points out that it could possibly rally as high as $0.6265 and even reach $0.73 by the time it is done. However, XRP must hold the support level at $0.4637 while breaking the resistances being mounting at $0.4962 and $0.5720. Factors Holding Price Down While XRP price continues to be one of the most popular cryptocurrencies in the market, a number of factors have suppressed. The major one is the lawsuit mentioned above. Even though Ripple has scored multiple victories against the regulator during this time, the fact that the lawsuit is yet to be officially over continues to present a major hurdle. Related Reading: Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won’t Go Below This Level In her analysis, RLinda points to these issues as being behind the price not performing well. However, Ripple CEO Brad Garlinghouse has said that he expects the lawsuit and settlement to be complete by the end of this summer. This puts it sometime before September. If this happens, then it would mark a pivotal point for the turnouts in the XRP price. “The Ripple vs. SEC case is a pivotal moment for cryptocurrency regulation, as a final victory would be a strong green sign for the entire cryptocurrency community amidst the SEC getting a number of restrictions on its activities lately due to overstepping its authority,” the analyst said. Featured image created with Dall.E, chart from Tradingview.com
XRP price climbed higher and tested the $0.4840 resistance zone. The price corrected gains but the bulls are able to protect the $0.4750 support. XRP price is eyeing an upside break above the $0.4840 resistance zone. The price is now trading above $0.4720 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.4760 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is a close above the $0.4840 resistance. XRP Price Corrects Gains XRP price started a decent upward move above the $0.4740 resistance like Bitcoin and Ethereum. The bulls were able to push the price above $0.480. However, the bears were active near the $0.4840 resistance zone. A high was formed at $0.4839 and the price recently started a downside correction. There was a move below the $0.4800 and $0.4780 levels. The price even spiked below the 50% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high. It is now trading above $0.4740 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.4760 on the hourly chart of the XRP/USD pair. On the upside, the price is facing resistance near the $0.480 level. The first major resistance is near the $0.4840 level. The next key resistance could be $0.4880. A clear move above the $0.4880 resistance might send the price toward the $0.5050 resistance. The next major resistance is near the $0.5120 level. A close above the $0.5120 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance. More Losses? If XRP fails to clear the $0.4840 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4765 level and the trend line. The next major support is at $0.4740, the 61.8% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high, and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4740 level, the price might continue to decline toward the $0.4640 support in the near term. 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 just below the 50 level. Major Support Levels – $0.4765 and $0.4740. Major Resistance Levels – $0.4800 and $0.4840.
XRP price is attempting to recover above the $0.4750 resistance zone. The price could gain bullish momentum if it settles above the $0.480 resistance zone. XRP price is still struggling to gain pace for a move above the $0.4800 resistance zone. The price is now trading above $0.4750 and the 100-hourly Simple Moving Average. There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is a close above the $0.480 resistance. XRP Price Recovers Again XRP price remained stable above the $0.4620 support and recently started a decent upward move like Bitcoin and Ethereum. The bulls were able to push the price above $0.470 to push the price in a short-term bullish zone. There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.4750 resistance zone and the 100-hourly Simple Moving Average. A high was formed at $0.4796 and the price is now consolidating losses. The price is testing the 23.6% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. It is now trading above $0.4750 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4790 level. The first major resistance is near the $0.4800 level. The main hurdle is now near $0.4825. A clear move above the $0.4825 resistance might send the price toward the $0.4880 resistance. The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance. Another Drop? If XRP fails to clear the $0.480 resistance zone, it could start another decline. Initial support on the downside is near the $0.4745 level and the 50% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. The next major support is at $0.4730 and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4730 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4640 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 – $0.4745 and $0.4640. Major Resistance Levels – $0.4800 and $0.4825.
The realm of cryptocurrency ETFs appears to be now expanding, yet not all digital assets are poised for an easy transition into this financial product. GSR’s recent analysis of the potential for ETFs across various crypto has brought forward insights that place XRP and Cardano in a challenging position for ETF adaptation. Using a comprehensive […]
XRP price is attempting to recover above the $0.4700 resistance zone. The price could decline again if it fails to clear the $0.4825 resistance zone. XRP price is still struggling to gain pace for a move above the $0.4800 resistance zone. The price is now trading above $0.4720 and the 100-hourly Simple Moving Average. There was a break above a crucial bearish trend line with resistance at $0.4710 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is a close above the $0.4825 resistance. XRP Price Attempts Recovery XRP price attempted a recovery wave above the $0.470 level like Bitcoin and Ethereum. The bulls were able to push the price above $0.4720 to push the price in a short-term bullish zone. There was a break above a crucial bearish trend line with resistance at $0.4710 on the hourly chart of the XRP/USD pair. However, the pair is now facing resistance near the $0.4770 level. A high was formed at $0.4769 and the price is now consolidating losses. The price is testing the 23.6% Fib retracement level of the upward move from the $0.4660 swing low to the $0.4769 high. It is now trading above $0.4720 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4770 level. The first major resistance is near the $0.4785 level. The main hurdle is now near $0.4825. A clear move above the $0.4825 resistance might send the price toward the $0.4880 resistance. The next major resistance is near the $0.500 level. A close above the $0.500 resistance zone could send the price higher toward $0.5120. Any more gains might send the price toward the $0.5250 resistance. Another Decline? If XRP fails to clear the $0.4770 resistance zone, it could start another decline. Initial support on the downside is near the $0.4740 level and the 100-hourly Simple Moving Average. The next major support is at $0.470. If there is a downside break and a close below the $0.4700 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4620 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 – $0.4700 and $0.4620. Major Resistance Levels – $0.4770 and $0.4825.
Crypto analyst Alessio Rastani has warned that XRP is in “trouble” following his recent analysis of the chart. He outlined certain “strong warnings” on the chart, which showed that the crypto token could experience further price declines. Why XRP Is In Trouble Rastani mentioned in a video on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the Elliot Wave Theory. He noted that a drop to that price level represents about a 100% decline for XRP from Wave B and a similar corrective move to Wave A that occurred in 2020. Related Reading: Bitwise CIO Expects $15 Billion To Flow Into Spot Ethereum ETFs, How Will ETH React? The crypto analyst also alluded to the the altcoin’s bounce in 2020, around the time the crypto token was declared a non-security. He claimed that the rally then overlapped, which suggested it was a corrective bounce. He noted that these corrective rallies are bearish in nature as they usually resolve to the downside. Rastani claimed that an impulsive rally is required for XRP to continue its uptrend. That is why he believes that XRP can still drop lower since the corrective rally from 2022 is still in play. The analyst also highlighted the support levels at $0.41 and $0.35 as crucial, stating that a break below those levels will serve as confirmation for the downward move to $0.2 and $0.17. He added that XRP could even drop lower to $0.13. Meanwhile, Rastani predicts that this move could take several months, stating that the crypto token could drop to these levels by year-end or sometime in 2025. He also said that the altcoin needs to stay below the resistance levels at $0.64 and $0.74, as a break above those levels will invalidate his projections. Rastani also highlighted the momentum indicator on XRP’s chart, noting that there has been a lot of “downward negative momentum” for XRP recently, suggesting that a downward move will likely occur. He claimed that the downward momentum hasn’t been triggered yet, but he believes that it will soon happen, especially if the altcoin breaks below $0.35. An Alternative Move For Price Rastani also outlined an alternative move that XRP could make if his projections are invalidated, although he doubts that will happen. He claimed that if XRP manages to break above $0.64 and $0.74, that would mean that the rally in 2022 was Wave A, and the recent drop to around $0.40 was Wave B, thereby setting up XRP for a move to around $1.40 for Wave C. Related Reading: Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar The crypto analyst added that XRP could also retest the 2021 highs at around $2. However, he claimed that would mean that the next move is still downward, suggesting that the alternative move isn’t still bullish for XRP. He once again reaffirmed that the first scenario of XRP dropping to as low as $0.13 was likely to happen. Featured image created with Dall.E, chart from Tradingview.com
An attorney has provided insights on the impending court judgment from the United States Securities and Exchange Commission (SEC) concerning its lawsuit against Ripple. As the legal battle finally appears to be approaching its end, the attorney has outlined how the potential judgements could impact Ripple’s reputation and digital asset operations in the United States […]
In a scathing public statement today, Ripple Chief Legal Officer (CLO) Stuart Alderoty criticized SEC Chairman Gary Gensler following a recent court decision, which Alderoty highlighted as indicative of regulatory overreach. As highlighted by Alderoty, the US Securities and Exchange Commission (SEC) unlawfully rescinded a rule concerning proxy advisory firms, an action directed by Gensler […]
XRP price started a recovery wave from the $0.4620 support. The price is now struggling to clear $0.4780 and might restart its decline. XRP price is attempting a recovery wave from the $0.4620 support zone. The price is now trading below $0.4800 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.4770 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might face rejections near $0.4780 and $0.480. XRP Price Faces Resistance XRP price extended losses below the $0.480 level like Bitcoin and Ethereum. The price even spiked below $0.4650 and tested the $0.4620 zone. A low was formed at $0.4619 and the price recently started a recovery wave. There was an upward move above the $0.4700 and $0.4720 resistance levels. The price even surpassed the 50% Fib retracement level of the downward wave from the $0.4885 swing high to the $0.4620 low. However, the bears seem to be active near the $0.4780 zone. They are protecting the 61.8% Fib retracement level of the downward wave from the $0.4885 swing high to the $0.4620 low. There is also a key bearish trend line forming with resistance at $0.4770 on the hourly chart of the XRP/USD pair. It is now trading below $0.4800 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4770 level. The first major resistance is near the $0.4800 level. A clear move above the $0.4800 resistance might send the price toward the $0.4885 resistance. The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could send the price higher. The next key resistance is near $0.5250. Any more gains might send the price toward the $0.5500 resistance. Another Decline? If XRP fails to clear the $0.4800 resistance zone, it could start another decline. Initial support on the downside is near the $0.4685 level. The next major support is at $0.4620. If there is a downside break and a close below the $0.4620 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.450 support in the near term. 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 near the 50 level. Major Support Levels – $0.4685 and $0.4620. Major Resistance Levels – $0.4770 and $0.4800.
XRP price struggled to recover above the $0.4880 resistance zone. The price is moving lower and the bears might aim for a move toward $0.4550. XRP price faced another rejection near the $0.4880 resistance zone. The price is now trading below $0.4850 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.4810 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend losses if there is a close below the $0.4720 support zone. XRP Price Extends Losses XRP price attempted a recovery wave above the $0.4820 resistance zone. However, the bears were active near the $0.4880 resistance zone. A high was formed at $0.4884 and the price started a fresh decline like Bitcoin and Ethereum. There was a move below the $0.4850 and $0.4800 levels. There was even a test of the $0.4720 support. A low was formed at $0.4722 and the price is now consolidating losses. It is also trading below $0.4850 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price might face hurdles near the $0.4765 level or the 23.6% Fib retracement level of the downward move from the $0.4884 swing high to the $0.4722 low. The first major resistance is near the $0.4810 and $0.4820 levels. There is also a connecting bearish trend line forming with resistance at $0.4810 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the downward move from the $0.4884 swing high to the $0.4722 low. A clear move above the $0.4820 resistance might send the price toward the $0.4880 resistance. The next major resistance is near the $0.50 level. A close above the $0.50 resistance zone could send the price higher. The next key resistance is near $0.5120. Any more gains might send the price toward the $0.5250 resistance. More Losses? If XRP fails to clear the $0.4820 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4720 level. The next major support is at $0.4650. If there is a downside break and a close below the $0.4650 level, the price might decline heavily. In the stated case, the price could even trade below the $0.450 support in the near term. 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 – $0.4720 and $0.4650. Major Resistance Levels – $0.4820 and $0.4880.
A crypto analyst has predicted that cryptocurrency payments company, Ripple could be the next high-valuation company, similar to Amazon and Facebook. This prediction comes as XRP witnesses poor performance amidst market volatility and Ripple’s ongoing court battle with the United States Securities and Exchange Commission (SEC). Analyst Predicts Ripple Emerging As Billion-Dollar Start-Up The host […]
On June 20, Ripple Labs Inc. scored a pivotal victory in its ongoing legal challenges, specifically in the federal class action suit filed in the Northern District of California. The case (4:18-cv-06753-PJH), presided over by Judge Phyllis J. Hamilton has been closely monitored by the XRP community due to its potential implications for the classification […]
XRP price struggled to surpass the $0.500 resistance zone. The price is moving lower and showing bearish signs for a move below the $0.4850 support. XRP price faced another rejection near the $0.50 resistance zone. The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel with support at $0.4920 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend losses if there is a close below the $0.4850 support zone. XRP Price Dips Again XRP price attempted a fresh increase above the $0.4950 resistance zone. It even spiked above the $0.50 resistance but there was no real bullish momentum. A high was formed at $0.5019 and the price started a fresh decline like Bitcoin. There was a move below the $0.4980 and $0.4950 levels. There was a break below a short-term rising channel with support at $0.4920 on the hourly chart of the XRP/USD pair. The pair even traded below the 50% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high. The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. The bulls seem to be active near the $0.4850 support and the 61.8% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high. If there is a fresh increase, the price might face hurdles near the $0.4950 level. The first major resistance is near the $0.50 and $0.5020 levels. A clear move above the $0.5020 resistance might send the price toward the $0.5150 resistance. The next major resistance is near the $0.5250 level. A close above the $0.5250 resistance zone could send the price higher. The next key resistance is near $0.5320. Any more gains might send the price toward the $0.550 resistance. More Losses? If XRP fails to clear the $0.50 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4850 level. The next major support is at $0.4765. If there is a downside break and a close below the $0.4765 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.4540 low in the near term. 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 – $0.4850 and $0.4765. Major Resistance Levels – $0.5020 and $0.5150.
On-chain analytics platform Santiment has outlined a factor that could contribute to Cardano (ADA) and XRP enjoying further moves to the upside. Both tokens recorded relief pumps following the recent decline in the crypto market, but market traders believe this development is far from a bullish reversal. Heavy Trader Shorting Could Lead To Price Rises For Cardano And XRP Santiment claimed in an X (formerly Twitter) post that the heavy trader shorting which Cardano and XRP are currently seeing could be the “rocket fuel” for continued price rises for these crypto tokens. Santiment had also revealed that Cardano and XRP were among the most notable altcoins that are heavily shorted following their relief bounces. Related Reading: Ethereum Price To Hit $10,000, ‘Just The Way The Chips Have Fallen,’ Analyst Says Interestingly, they called this a “good sign” for the patient bulls, as they believe that liquidation of these short positions could effectively be the momentum that these crypto tokens need to rise higher. Cardano and XRP being named among the most shorted altcoins isn’t surprising, considering that they are the most underperforming coins this year among the top 50 crypto tokens by market cap. Cardano and XRP have also usually failed to enjoy significant relief pumps even when Bitcoin (BTC) and the broader crypto market enjoy a massive rebound. However, this time could be different, as Cardano and XRP have enjoyed a modest price recovery while some other altcoins lag. Data from Coinglass shows that Santiment’s theory could already be in play, seeing how the Cardano and XRP bears have suffered significant losses in the last 24 hours. Over $50,000 in Cardano short positions have been liquidated during this period, while not a single cent in Cardano long positions have been liquidated. Similarly, over $30,000 in XRP short positions have been liquidated while XRP longs were unaffected. A Major Move Might Be On The Horizon For XRP Crypto analyst Egrag Crypto recently predicted that XRP could enjoy a price pump of around 1,700% starting in July. He alluded to XRP’s quarterly hammer formation between April and June 2016 and July and September 2017 before the crypto token enjoyed a major pump. The crypto analyst stated that XRP could form this bullish pattern again but needed to close the 3-month candle above the range between $0.55 and $0.58 in 10 days. Related Reading: Dogecoin Weighted Sentiment Drops To 2024 Lows, What Does This Mean For Price? Egrag further claimed that if the hammer formation is similar to the one in 2016, the XRP could begin the projected 1,700% price rally in July, eventually sending the crypto token to $8. However, if the hammer formation is similar to the one in 2017, Egrag mentioned that XRP holders might have to wait another six months before the “epic” pump of around 5,500%, sending XRP’s price to $27. Featured image created with Dall.E, chart from Tradingview.com
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
Lately, numerous uncertainties have been seen in the cryptocurrency market, leading to a significant drop in the value of several major coins, like XRP. Despite this, well-known cryptocurrency analyst and enthusiast Javon Marks in a daring forecast has predicted a significant upswing for XRP, setting a $20 price target for the digital asset following its […]
The latest chart analysis by crypto analyst @Cryptobilbuwoo0, published via X, offers a compelling narrative for XRP’s potential upward trajectory when juxtaposed against the total cryptocurrency market capitalization. The analyst emphasizes key technical indicators and historical patterns, suggesting that XRP might be on the brink of a significant bullish phase. XRP Price Poised To “Bounce” The XRP/Total chart primarily illustrates a descending trajectory that began forming from its early 2018 peak. This overarching downtrend is marked by successive lower highs that articulate a consistent descending trendline. Moreover, @Cryptobilbuwoo0 highlights the ‘Bounce Back Line,’ a horizontal support line that has historically acted as a crucial reversal point for the XRP price action. The chart shows several instances where the price of XRP, upon reaching this line, has rebounded dramatically. Related Reading: Crypto Analyst Predicts XRP Price Will Rally 102,590% To $500, But There’s A Catch The last instance of XRP interacting with the “Bounce Back Line” was on December 28, 2020. Following this touchpoint, the price soared over 1,100%, climbing from $0.18 to $2. Earlier, on February 27, 2017, XRP escalated from just under $0.02 to $3.35 within 10 months. Currently, XRP is once again nearing the “Bounce Back Line.” Given the historic outcomes following support from this level, the analyst predicts another significant rally may be on the horizon. The chart analysis further deepens with a nuanced look at the Relative Strength Index (RSI) and the Wavetrend Indicator (WT Krypt), which are pivotal to understanding the market’s momentum and potential reversals. The 14-day RSI is currently nearing 31, approaching the oversold territory which historically signals a buying opportunity or a trend reversal. This is evident in the past markings on the chart, where similar RSI levels have coincided with the “Bounce Back Line” and substantial upward price movements. The Wavetrend Indicator, used for spotting the start and end of cycles in the cryptocurrency’s price, has shown several bullish signs. Bullish divergences have been a critical focus, occurring when the price of XRP makes new lows while the indicator does not follow suit, suggesting a decrease in downward momentum. Moreover, the recent crossover of the Wavetrend lines (red crossing over blue) is typically interpreted as a bullish entry signal, indicating potential upward price movement. Related Reading: XRP Whale Goes On Shopping Spree: 27 Million Coins Snapped Up As Price Dips In addition to the primary indicators, the analyst has annotated the chart with past price actions and highlighted areas and patterns, such as bullish divergences. These annotations serve to emphasize significant trading zones and anticipated trend shifts based on historical data. The marked sections of the chart indicate that each time similar conditions were met, there followed a significant increase in the XRP price, reinforcing the bullish outlook presented in the current analysis. @Cryptobilbuwoo0’s analysis suggests that XRP, currently positioned at a historically significant price level and supported by bullish indicator signals, is poised for a potential breakout. This outlook is bolstered by the RSI nearing oversold conditions and the positive signals from the Wavetrend Indicator. If the historical pattern repeats, the crypto asset could see a substantial rally, affirming the analyst’s perspective: Looking at the XRP/Total chart, XRP has always risen significantly from the rebound line. Indicators are also calling the bulls. XRP always moves alone like a maverick. XRP’s showtime begins. At press time, XRP traded at $0.49. 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.
Bitcoin is facing intense selling pressure, but charts suggest strong support at $64,500 and again at $60,000.
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 […]