The long-running legal battle between the US Securities and Exchange Commission (SEC) and Ripple finally concluded following Judge Analisa Torres’ judgment on August 7. With the lawsuit out of the way, crypto analyst CrediBULL Crypto predicts that the XRP price could soon surpass its all-time high (ATH). XRP Price Is Set For A “Mega Run” To New ATH CrediBULL Crypto mentioned in an X (formerly Twitter) post that the stage is set for an “inevitable mega run for XRP. The analyst added that XRP hitting a new ATH is a matter of when and not if. XRP’s current ATH stands at $3.84, meaning the crypto token could rise above this price level soon. Related Reading: Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again? Before now, crypto analysts like RLinda had highlighted the conclusion of the case between the SEC and Ripple as one of the catalysts that could spark a massive rally for XRP. She asserted that this event would give XRP a “second life” to achieve a successful breakout above critical resistance levels. Crypto analyst JackTheRippler predicted that XRP would rise to as high as $100 once the case between the SEC and Rippled ended. Crypto analyst Common Sense Crypto also alluded to the lawsuit while outlining why XRP can reach $100. The analyst suggested that the conclusion of the case will lead to the launch of a Spot XRP ETF, which can spark such a parabolic rally for XRP. This lawsuit began in December 2020 and is believed to have hindered XRP’s growth, especially during the 2021 bull run when the crypto token failed to record significant gains or even close to breaking its ATH. However, that looks set to change as Judge Torres’ judgment has ended the lawsuit, at least for now, with an appeal still a possibility. Judge Torres declared a $125 million penalty against Ripple for violating securities laws and an injunction against future violations. However, the $125 million is way below the almost $2 billion fine the SEC initially proposed. The court also ruled that the SEC cannot bar Ripple’s On-Demand Liquidity (ODL) sales. XRP Is Just Getting Started Crypto analyst Mikybull Crypto stated that XRP’s current rally following the court’s ruling is just getting started while urging market participants to get ready for the “real fun.” Whatever happens, XRP holders will hope that the excitement about the end of the lawsuit can help send XRP above $1 in the short term. Related Reading: Dogecoin Bounces Off Key Support Following Crash Below $0.1 Such a move will undoubtedly boost the confidence of these investors that XRP can reach the projected heights that these analysts say it will attain. It is worth mentioning that XRP failed to break the $1 resistance when Judge Torres declared last year that the crypto token wasn’t a security. As such, XRP’s price action will be one to watch. At the time of writing, XRP is trading at around $0.60, up over 18% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
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
XRP price started a recovery wave above the $0.4880 resistance. The price could gain bullish momentum if it clears the $0.5220 resistance. XRP price started a decent recovery wave above the $0.4750 and $0.4880 levels. The price is now trading below $0.5220 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $0.5040 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to recover higher if it clears the $0.5220 resistance zone. XRP Price Regains Strength XRP price formed a base above $0.4320 and started a recovery wave like Ethereum and Bitcoin. The price was able to surpass the $0.4750 and $0.4880 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $0.5767 swing high to the $0.4320 low. Besides, there was a break above a key bearish trend line with resistance at $0.5040 on the hourly chart of the XRP/USD pair. However, the price is facing hurdles near the $0.5200 zone. It is still trading below $0.520 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $0.5220 level and the 100-hourly Simple Moving Average. It is close to the 61.8% Fib retracement level of the downward move from the $0.5767 swing high to the $0.4320 low. The first major resistance is near the $0.5420 level. The next key resistance could be $0.5750. A clear move above the $0.5750 resistance might send the price toward the $0.5840 resistance. The next major resistance is near the $0.5920 level. Any more gains might send the price toward the $0.600 resistance or even $0.6120 in the near term. Another Drop? If XRP fails to clear the $0.5220 resistance zone, it could start another decline. Initial support on the downside is near the $0.4980 level. The next major support is at $0.4880. If there is a downside break and a close below the $0.4880 level, the price might continue to decline toward the $0.4660 support in the near term. The next major support sits at $0.4500. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4980 and $0.4880. Major Resistance Levels – $0.5220 and $0.5420.
XRP price started a recovery wave from the $0.4320 support. The price is up over 8% and now faces hurdles near the $0.5120 zone. XRP price traded below the $0.500 and $0.4550 support levels. The price is now trading below $0.5250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5120 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to recover higher if it clears the $0.5150 resistance zone. XRP Price Starts Recovery Wave XRP price extended losses below the $0.500 support like Ethereum and Bitcoin. The bears even pushed the price below the $0.4550 support zone. The price tested the $0.4320 zone. A low was formed at $0.4320 and the price recently started a recovery wave. There was a move above the $0.4550 and $0.480 resistance levels. The price climbed above the 50% Fib retracement level of the downward wave from the $0.5765 swing high to the $0.4320 low. The price is still trading below $0.550 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $0.5120 on the hourly chart of the XRP/USD pair. The bulls are now facing a major hurdle near the trend line and $0.5150. The first major resistance is near the $0.540 level and the 100-hourly Simple Moving Average. It is close to the 76.4% Fib retracement level of the downward wave from the $0.5765 swing high to the $0.4320 low. The next key resistance could be $0.550. A clear move above the $0.550 resistance might send the price toward the $0.5550 resistance. The next major resistance is near the $0.5680 level. Any more gains might send the price toward the $0.580 resistance or even $0.5880 in the near term. Another Decline? If XRP fails to clear the $0.5120 resistance zone, it could start another decline. Initial support on the downside is near the $0.4880 level. The next major support is at $0.4750. If there is a downside break and a close below the $0.4750 level, the price might continue to decline toward the $0.4500 support in the near term. The next major support sits at $0.4320. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4880 and $0.4750. Major Resistance Levels – $0.5120 and $0.5400.
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 […]
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 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
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.
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, […]
XRP price is again gaining bullish momentum above the $0.520 resistance zone. The price is eyeing more upsides above $0.550 and $0.5650. XRP price started another increase above the $0.5250 resistance zone. The price is now trading above $0.540 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.5220 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend gains if there is a close above the $0.5620 resistance level. XRP Price Regains Strength XRP price formed a base above the $0.500 level and started a fresh increase. The price broke the $0.5250 resistance to move again into a positive zone like Ethereum and Bitcoin. There was also a move above the $0.550 resistance level. A high was formed at $0.5610 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.5227 swing low to the $0.5610 high. The price is now trading above $0.5420 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $0.5220 on the hourly chart of the XRP/USD pair. On the upside, the price is facing resistance near the $0.5610 level. The first major resistance is near the $0.5620 level. The next key resistance could be $0.5650. A clear move above the $0.5650 resistance might send the price toward the $0.5740 resistance. The next major resistance is near the $0.580 level. Any more gains might send the price toward the $0.600 resistance. Are Dips Limited? If XRP fails to clear the $0.5620 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.5420 level and the 50% Fib retracement level of the upward move from the $0.5227 swing low to the $0.5610 high. The next major support is at $0.5280 and the trend line. If there is a downside break and a close below the $0.5280 level, the price might continue to decline toward the $0.5050 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 – $0.5420 and $0.5280. Major Resistance Levels – $0.5620 and $0.5650.
Crypto analyst Crypto Bitlord has urged market participants to buy the XRP token. In a series of posts on his X (formerly Twitter) platform, he suggested why he asked everyone to make such an investment decision. Crypto Analyst Says Buy XRP And Hold Crypto Bitlord urged everyone in an X post to buy and hold […]
Crypto analyst Dark Defender has shared an extremely bullish technical analysis on XRP via X, suggesting a bullish reversal and the possibility of “God Candles.” The analysis uses a variety of technical indicators and chart patterns to project an optimistic outlook for XRP. XRP Price Poised For ‘God Candles’? The core of Dark Defender’s (@DefendDark) analysis is focused at two indicators which suggest a change of trend. The first one is the breakout above a descending trendline. This move is critical as it means that XRP eliminated its first key resistance and suggests a potential reversal from the downward trend which started in mid-March. It is particularly noteworthy as it indicates a shift in market sentiment from bearish to bullish. Supporting this trend reversal is the Fisher Transform indicator, which is crucial for identifying major price reversals. The Fisher Transform uses price data to produce a Gaussian normal distribution to signal potential changes in market direction. Related Reading: XRP Resilience Sparks Further Gains As Price Surpasses $0.466 Level On the weekly chart, a ‘Golden Cross’ is visible where the faster line of the Fisher Transform crosses above the slower line, typically a bullish signal in market analysis. This event is essential as it provides confirmation of the trend reversal signaled by the breakout from the descending trendline. “Ladies & gentlemen, XRP had the highly bullish Reversal approval for the Fisher Indicator weekly. Initial resistance instantly broke at $0.4623!” the crypto analyst remarked. However, it’s important to note that the digital asset is still navigating below the Ichimoku Cloud, indicating that resistance still lies ahead. The Ichimoku Cloud is a comprehensive indicator that provides insight into the momentum and future areas of support and resistance. Related Reading: XRP Price Eyes Colossal 280% Breakout Amid CME Group Partnership While the breakout from the descending trendline and the bullish Fisher Transform signal are promising, the price remaining below the Cloud suggests that XRP has yet to clear all hurdles and establish a stronger bullish presence. Additionally, the chart also details several key Fibonacci levels that are critical for understanding the next potential resistance and support zones. After breaking the initial resistance at $0.4623, XRP is currently testing the interim Fibonacci level at $0.5286. Dark Defender emphasizes the significance of the price closing above this level to sustain the bullish momentum: “Our interim Fibonacci Level, $0.5286, is being tested. It would be great to close this week’s candle above $0.53.” Notably, the XRP price didn’t manage to close the week above this price. Despite that, XRP is currently continuing the upward trend, trading above $0.53 today. The next resistance point to level is at $0.6044. Surpassing this level could lead to the creation of multiple “God Candles,” suggesting a rapid and sustained increase in price. Dark Defender remarked, “Next week, we will test the secondary mid-level resistance of $0.6044. It’s crucial not to underestimate the master fundamental level for XRP, which is $0.6649. Above it, we can expect multiple God Candles, which will open the path to Heaven’s Stairway.” At press time, XRP traded at $0.53494. Featured image created with DALL·E, chart from TradingView.com
The XRP price has outperformed its peers among the top ten largest cryptocurrencies on the market, experiencing a significant surge of 13.5% in the past week alone after experiencing a sustained decline from its yearly high of $0.745 in March. With an eye on a key Fibonacci level, the eighth largest cryptocurrency by market capitalization, currently valued at $26 billion, is poised for a potential price explosion that could send the XRP price to new yearly highs, coupled with a bullish announcement surrounding the token’s rise since Thursday. XRP Becomes Bridge Asset In $1.2 Trillion Market CoinGecko data shows a notable increase of 50% in trading volume over the past few days, demonstrating the renewed bullish sentiment surrounding the XRP price, along with a significant collaboration announcement with the world’s largest derivatives marketplace, CME Group, which has further strengthened XRP’s position in the market. Related Reading: Litecoin Is A Hub Of Whales: Over $2.85 Billion Of $100,000 Transactions Processed On Thursday, CME Group made a major announcement, revealing that starting July 29, the CME and XRP dollar reference rates and real-time indices will be included in its suite of benchmarks, positioning the token as a bridge asset in a market worth approximately $1.2 trillion. The XRP price has benefited from this announcement, as transparent pricing information is likely to increase liquidity, making it easier for investors to buy and sell XRP tokens, resulting in the current price surge of 4% witnessed in the 24-hour time frame. Additionally, this collaboration may open new doors for creating financial products, such as futures and options based on XRP, providing holders with additional ways to manage risks and maximize their investments. Brad Garlinghouse, CEO of blockchain payments company Ripple, which is closely associated with XRP, expressed his enthusiasm for the collaboration, emphasizing the importance of having a trusted benchmark reference rate as a critical step in adopting institutional crypto products. Garlinghouse praised the joint effort between CME Group and CFBenchmarks to create an XRP index, noting that the market has validated the need for such initiatives. Ripple’s CEO stated: First step towards institutional crypto products is to have a trusted benchmark reference rate. Nice to see CME Group and CF Benchmarks collaborate on this for an XRP index. The market has spoken. XRP Price Eyes $1.8 In addition to the news, technical analysis points to further upside for the XRP price if certain conditions are met. Crypto analyst Dark Defender recently noted in a social media post that XRP is testing the $0.462 Fibonacci level, which is key to the token’s prospects and expectations for the continuation of the uptrend. The analyst also spotted two bullish divergences in the price and the Relative Strength Index (RSI) numbers as they made higher lows on the weekly XRP/USD chart. This led Dark Defender to believe that if the XRP price breaks and consolidates above this level from today until Sunday, the cryptocurrency could begin a journey towards the $1.88 level, representing a 288% price increase from the current trading level of $0.465. Related Reading: Spot Ethereum ETFs FOMO: Tron Founder Justin Sun Drops $5 Million On ETH Featured image from DALL-E, chart from TradingView.com
In an analysis shared via X and YouTube, crypto analyst Matt “The Great Mattsby” Hughes highlighted what could be a historic move for the XRP price, based on the Bollinger Bands indicator. Hughes points to an impending squeeze in XRP’s monthly Bollinger Bands, suggesting a potential spike similar to previous rallies where the cryptocurrency saw massive gains. Hughes explained via X: “XRP has one of the tightest monthly Bollinger Band squeezes in its history and in all of crypto right now. The last time it squeezed like that, it shot up 60,000%.” In a YouTube video, the crypto analyst went into more detail, explaining how the XRP price has behaved in the past when the Bollinger Bands have been this tight. XRP Could Skyrocket To $250 The first instance, according to Hughes, occurred between September 2016 and March 2017. During this period, the XRP price consolidated for several months, causing the Bollinger Bands to tighten dramatically. After this period of consolidation, the XRP price skyrocketed, achieving gains that Hughes estimates to be around 60,000%. The second time was from December 2020 to April 2021. In this case, XRP rose by around 1,000%. “So it was much less than this period here and simply because it looks like it wasn’t as tight as it was right here [the first time], we can see it was much tighter during the first time,” Hughes explained. Related Reading: Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance This is the third time. Notably, “is the tightest it has ever been, even tighter than the first time, which suggests that it should explode much higher than previous cycles,” he said. The Bollinger Bands are a technical analysis tool defined by a set of trendlines two standard deviations (positive and negative) away from a simple moving average (SMA) of a security’s price, but can be adjusted to suit the user’s preferences. A narrowing of these bands typically indicates low volatility with the potential for a major bullish or bearish price movement once the bands begin to widen again. Hughes also examines the duration from the all-time high to the current price, noting that 2,373 days have elapsed. This long period of relative inactivity in price growth, combined with the extreme tightness of the Bollinger Bands, forms the basis of his prediction of an imminent significant move higher. “It’s the tightest in its history as well so that just kind of proves to me that there is going to be a move sometime in the near future. I’m not sure when but sometime, we can see that this is looking more and more like it wants to break out,” Hughes remarked. Related Reading: Crypto Analyst Predicts XRP Price Crash To $0.07 Amid Triangle Breakdown In addition to the technical perspective, he also discussed XRP’s price performance relative to its 20-month moving average. He notes that, similar to previous patterns, XRP has spent a considerable amount of time below this moving average prior to significant rallies. In both previous instances, XRP’s breakout was preceded by a period below this moving average, followed by a breakout that began after testing the bottom of the Bollinger Band. Notably, the price of XRP hasn’t yet tested the bottom of the Bollinger band. Therefore, Hughes speculates about a potential price drop as a “final flush out”, possibly down to the $0.30 area before a potential breakout. Such a move would be in line with previous cycles where a test of the lower Bollinger Band has led to strong rallies. “So there is a possibility that the price could come down to test it. Maybe one last flush out maybe down into the $0.30s, we don’t know but if that’s the case then that’s just more confluence of the previous cycles that price can still just break out,” he concluded. By the way, if history were to repeat itself and XRP were to increase by 62,000%, it would reach a price of $250. At press time, XRP traded at $0.44574. Featured image created with DALL·E, chart from TradingView.com
Crypto analyst @Ripple_Effect11 predicts an imminent XRP price crash in a new technical analysis shared via X. His prediction is underpinned by a bearish breakout from a major triangle pattern that has been forming since the $3.84 all-time high on January 4, 2018. The analysis paints a dark picture for XRP in the coming months, with a potential drop to as low as $0.07, contingent on certain technical events. Why The XRP Price Could Crash To $0.07 Elliott Wave Theory, which forms the basis of @Ripple_Effect11’s analysis, is a form of technical analysis that predicts future price movements by identifying recurring wave patterns linked to investor psychology. The theory posits that market movements primarily unfold in five ‘impulse’ waves followed by three ‘corrective’ waves. In the case of XRP, the analyst identifies that the cryptocurrency has been in a corrective phase since its peak in 2018, marked by an A-B-C correction pattern. Wave A saw a sharp decline as low as $0.105 in March 2020. Wave B experienced a partial retracement upwards to $1.96 in April 2021. Wave C, where XRP is currently, is typically the final leg and involves another downward move, often completing the corrective phase. Related Reading: XRP Holds Bullish 2014-2017 Pattern Unless This Happens: Analyst The analysis suggests that within this final Wave C, XRP is undergoing its sub-waves. It’s currently in the third wave which traditionally is significant in terms of the depth and length of the price movement. Notably, the chart also shows a large triangle formation which has encapsulated the price action of XRP over several years. A triangle in technical analysis often represents a period of consolidation before the price breaks out decisively in one direction. According to @Ripple_Effect11, last week’s close below $0.42 confirmed a bearish breakout from this pattern and further supports the theory of a massive price crash. “No one is talking about this MASSIVE XRP triangle breakdown. A weekly close below $0.42 is extremely bearish,” he stated. Related Reading: Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? The analyst’s first target is at $0.33 where minor psychological support may exist. A second, more significant target at $0.18, which could represent a firmer historical support zone. The third target ranges between $0.12 and $0.14, possibly acting as interim support before more substantial selling. This price represents the end of the third wave. Amidst the fourth wave, the crypto analyst predicts that the XRP price could rebound above $0.18 before the final wave 5 pushes XRP even further down. The final target is between $0.07 and $0.08, translating into a more than 80% crash from the current price level. These targets are corroborated by technical indicators on the chart. The MACD is trending below its signal line, highlighting bearish momentum. The RSI is near 45, suggesting a lack of strong buying pressure and potential for further decline. Ripple Ruling Could Start The Trend Reversal Adding context to the technical analysis is the ongoing Ripple vs. SEC lawsuit, which the analyst notes is expected to conclude by July 2026. The outcome of the legal battle is anticipated to have significant implications for the XRP price. “Smart money sees buy targets 3 and 4 as attractive before the big utility pump from 2026 to 2030. Ripple Vs SEC started in 2020. XRP was classified as NOT a security in 2023. Ripple wins the case and XRP pumps hard 2026. Will you be patient?,” the crypto analyst concludes. At press time, XRP traded at $0.43448. Featured image from Shutterstock, chart form TradingView.com
XRP price is struggling below the $0.4250 support zone. The price is consolidating losses and might struggle to recover above the $0.450 resistance. XRP price struggled to recover above $0.450 and started another decline. The price is now trading below $0.4250 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.420 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might recover, but the upsides might be limited above $0.4350 and $0.450. XRP Price Moves In The Red Zone XRP price struggled to clear the $0.450 resistance and started a fresh decline, like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.4320 support. The pair even declined heavily below the $0.4250 support level. There was a drop below the 50% Fib retracement level of the upward move from the $0.3826 swing low to the $0.4498 high. The bulls are now trying to protect the $0.4050 support zone. It is now trading below $0.4250 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4160 level. The first major resistance is near the $0.420 level. There is also a connecting bearish trend line forming with resistance at $0.420 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 $0.450 level. Any more gains might send the price toward the $0.4650 resistance. More Losses? If XRP fails to clear the $0.420 resistance zone, it could start another decline. Initial support on the downside is near the $0.4050 level or the 61.8% Fib retracement level of the upward move from the $0.3826 swing low to the $0.4498 high. The next major support is at $0.40. If there is a downside break and a close below the $0.40 level, the price might continue to decline toward the $0.3750 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 – $0.4050 and $0.400. Major Resistance Levels – $0.420 and $0.4380.
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
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.
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.
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.