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Ripples price is finally showing bullish momentum on the USDT and BTC pairs as it has taken out significant resistance levels. Yet, theres still much work to do. XRP Price Analysis By Edris Derakhshi (TradingRage) The USDT Paired Chart Against USDT, the Ripple price has been reeling since it rebounded from the $0.5 support level, […]
XRP price gained pace and was able to clear the $0.600 resistance. The price is up over 10% and is now consolidating gains near $0.6450. XRP price started a fresh increase above the $0.600 resistance zone. The price is now trading above $0.6250 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with resistance at $0.6500 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $0.6500 and $0.6550 resistance levels. XRP Price Settles Above $0.60 XRP price started a major increase above the $0.60 resistance, beating Bitcoin and Ethereum. The bulls were able to pump the price above the $0.6120 and $0.6250 resistance levels. It even broke the $0.650 resistance. A high was formed at $0.6642 and the price started a downside correction. There was a move below the $0.6550 and $0.6500 levels. The price tested the 50% Fib retracement level of the upward move from the $0.6082 swing low to the $0.6642 high. The price is now trading above $0.6250 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.650 level. There is also a key contracting triangle forming with resistance at $0.6500 on the hourly chart of the XRP/USD pair. The first major resistance is near the $0.6550 level. The next key resistance could be $0.6640. A clear move above the $0.6640 resistance might send the price toward the $0.6850 resistance. Any more gains might send the price toward the $0.700 resistance or even $0.720 in the near term. Are Dips Supported? If XRP fails to clear the $0.650 resistance zone, it could continue to move down. Initial support on the downside is near the $0.6350 level. The next major support is near the $0.6285 level and the 61.8% Fib retracement level of the upward move from the $0.6082 swing low to the $0.6642 high. If there is a downside break and a close below the $0.6285 level, the price might continue to decline toward the $0.6120 support in the near term. The next major support sits at $0.600. Technical Indicators Hourly MACD The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now above the 50 level. Major Support Levels $0.6350 and $0.6285. Major Resistance Levels $0.6500 and $0.6550.
Ripple has shown a slight bullish rebound after encountering significant support at the 200-day moving average of $0.55, suggesting a modest increase in market demand. However, the market is likely to experience short-term consolidation. XRP Analysis By Shayan The Daily Chart A detailed examination of the daily chart reveals that Ripple has seen increased buying […]
XRP and DOGE are among the few altcoins in the green today.
Ripple has yet to begin a significant rally since last year, with the market mostly consolidating over the past few months. However, the recent price action is offering some clues and potential insights as to what the future may hold for XRP. XRP Price Analysis By TradingRage The USDT Paired Chart The price has been […]
XRP has struggled to keep pace with the broader crypto market rally that began last week following the Federal Reserves interest rate cut. While other cryptocurrencies have seen impressive gains, XRP has only managed a modest 2% increase. Analysts and investors suggest this underperformance is due to growing interest in other projects, diverting attention and capital from the token. Adding to this concern, user participation in the XRP Ledger blockchain has declined, raising questions about the project’s long-term prospects. Related Reading: Cardano (ADA) Eyes 20% Price Surge Funding Rate Suggests Increasing Demand Key data from on-chain analytics firm Santiment reveals a notable drop in user engagement on the Ledger, contributing to a sense of unease among investors. As they watch other altcoins posting double-digit gains, fear and uncertainty are mounting within the XRP community. Investors are now looking for signs of a turnaround, but until the price can reignite user interest and regain momentum, it risks falling further behind in this bullish market cycle. With the market in flux, all eyes are on XRP to see if it can overcome these challenges and join the broader crypto rally. XRP Facing Serious Risk XRP is trading below the critical $0.60 mark, a psychological level that has acted as resistance for the past few months. Despite a recent surge in the crypto market, XRP shows signs of a potential retracement. While the altcoin initially benefited from the broader bullish sentiment, its weakening market signals suggest it may struggle to sustain this momentum soon. One concerning indicator is the decline in user engagement on the XRP Ledger blockchain. Key metrics from Santiment show that XRPs price Daily Active Addresses (DAA) divergence dropped to -74.46% yesterday. The price DAA divergence measures whether user participation is increasing alongside the price. A declining DAA, especially when the price is rising, is a bearish signal because fewer users interact with the network despite the price increase. This divergence suggests that the recent uptrend could be weak and unsustainable. Related Reading: Solana (SOL) Consolidates in Symmetrical Triangle Analyst Reveals $160 Target On Breakout If XRP continues to struggle and fails to close above the $0.60 resistance, it may face a more significant downturn. The altcoin could see a deep correction, potentially falling to lower demand levels around $0.55. Investors are now closely monitoring XRPs price action to see if it can reclaim the $0.60 level and regain momentum or if further declines are on the horizon. Price Levels To Watch XRP trades at $0.589 after two weeks of sideways movement, fluctuating between $0.57 and $0.59. Despite several attempts, the price has failed to break above the crucial $0.60 resistance level, leaving it at risk of a downturn. XRP is now approximately 6% above its daily 200 moving average (MA), which sits at $0.548a critical support that has provided stability in the past. For bullish momentum to build, XRP must break past the $0.60 barrier and aim for higher supply levels around $0.65. This move would signal renewed strength and potentially trigger a more substantial rally. However, the current price action appears weak, with limited upward momentum. If XRP fails to hold above the $0.60 level, a retest of lower demand zones around $0.55 is expected. Related Reading: SUI Price Sits 40% Below All-Time High As TVL Approaches $1 Billion The worst-case scenario for XRP would be an extended period of this sideways range, lacking a decisive breakout in either direction. Such prolonged consolidation could increase selling pressure, driving the price lower. Investors and analysts are watching closely to see if XRP can reclaim the $0.60 level, initiate a new uptrend, or face further declines. Featured image from Dall-E, chart from TradingView
XRP could jump to as high as $0.75 in October if this prediction comes to fruition.
This week, we examine Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin in greater detail. Ethereum (ETH) Ethereum closed another good week with a 4% price increase. Buyers remain interested and managed to push the price above $2,600. The current target is $2,800, which will also act as key resistance. Momentum slowly turned bullish in September, […]
JackTheRippler predicted that the lawsuit between Ripple and the SEC will officially end next month.
Crypto experts have unveiled their bullish XRP price predictions despite the cryptos stagnant price action. One factor that could contribute to this projected rally is the SEC Ripple appeal deadline which is fast approaching. If there is no appeal, it will ultimately end the long-running lawsuit which has bordered on XRP. Crypto Experts Reveal Their Predictions For XRP Expert Crypto Bitlord mentioned in an X post that he believes XRP is ready and that he expects a parabolic explosion to the upside within 24 hours. He advised market participants not to sleep on XRP as millions can be made by timing this move. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Crypto analyst Jackis also provided a bullish prediction for XRP. He shared an inverted chart in an X post while stating that the breakdown will be violent, although alluding to an imminent breakout. The chart showed that XRP could finally reach $1 when this projected breakout occurs. Crypto analyst Dark Defender is also confident that XRP can reach $1 soon enough. He stated that XRP is ready to tear the last weekly Ichimoku Clouds which is at $0.6649. He predicts that the imminent move to the upside will also eliminate the January 2018 resistance which is above $1.03. Mikybull Crypto is another expert that is bullish on XRP. He recently noted that a similar move from 2017 might happen for the crypto in this cycle. He remarked that history doesnt always repeat itself but often rhymes. 2017 was the year when XRP enjoyed its historic 61,000% price surge in 280 days. In another X post, Mikybull Crypto claimed that XRP has one of the most bullish macro charts out there. The accompanying chart he shared showed that the altcoin could, at some point, reach $45, although that looks unlikely to happen in this market cycle. However, crypto analysts like Egrag Crypto have predicted that XRPs price can reach double digits in this bull run. Bullish Pennant On The Chart In an X post, crypto analyst Armando Pantoja highlighted a 7-year bullish pennant on XRPs chart. He stated that he had never seen anything like this in all his years of trading. In line with this, he claimed that market participants are about to witness one of the biggest breakouts of the year. Related Reading: Fed Rate Cuts Spurs $1.6 Billion Bitcoin Buying Spree Among Whales, Can BTC Reach $70,000? He believes that the breakout should be parabolic considering that XRPs price has consolidated for these seven years. He remarked that the charts rarely lie and that this setup is too perfect. His accompanying chart showed that the crypto can rise to $4 when this breakout finally happens. At the time of writing, XRP is trading at around $0.58, down over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
XRP trades at a pivotal moment after several days of volatile price action, sparking renewed optimism among investors. Some analysts believe that XRP is on the verge of breaking out from a massive 4-year bullish triangle pattern, which has served as an extended accumulation period. Related Reading: Bitcoin Indicator Signals Shift To Bullish Territory Can BTC Break Past $65,000? This technical formation has been steadily building up, and now XRP appears poised for a significant expansion phase. Following years of underperformance caused by the ongoing SEC lawsuit and broader economic uncertainty, the market is watching closely for a potential breakout. If XRP breaks through its current resistance levels, many expect a parabolic rally, potentially leading to new highs. Investors eagerly await confirmation of this move, viewing it as a crucial moment in XRP’s long-term market trajectory. As momentum builds, XRP’s next moves could define its performance in the coming months and its role in the broader crypto market. XRP Price Action Suggests A Bullish Breakout The entire crypto market has experienced a surge, with Bitcoin and many altcoins seeing double-digit percentage increases in price. This rally follows the Federal Reserve’s recent decision to cut interest rates by 50 bps, sparking optimism among investors who believe a new crypto bull run is on the horizon. XRP investors also feel optimistic, as analysts share promising insights suggesting positive performance in this cycle. Related Reading: Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? One prominent crypto analyst, Carl Runfelt, shared his technical analysis on X, highlighting the bullish triangle pattern that XRP has been forming since 2020. According to Runfelt, XRP could see explosive growth during this bull cycle, potentially going parabolic and rising by over 200% within weeks if the pattern breaks. The key level to watch is $0.60, which has acted as significant resistance in recent weeks. If XRP breaks above this critical price point, it could trigger a wave of “fear of missing out” (FOMO), driving substantial demand and pushing prices to new highs. Investors are closely watching this level, anticipating a breakout that could reshape XRPs trajectory for the remainder of the cycle. Pivotal Liquidity Levels XRP is currently trading at $0.587, sitting at a crucial level that could ignite a massive rally for the altcoin. After surging 15% since early September, the price is testing the weekly 200 moving average (MA) at $0.609 as resistance, a level that has held XRP down since April. Breaking through this barrier is essential for bulls aiming to extend the rally. XRP has reclaimed the weekly 200 exponential moving average (EMA) at $0.52, a strong demand zone since early July. This level will be key in holding up the price if a correction occurs. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed For XRP to continue up, the price must break the $0.60 level and reclaim the 1W 200 MA as support. A clean break above these levels would signal the potential for a larger rally and a shift in market sentiment. However, failure to close above current levels could lead to more sideways consolidation or even a deeper pullback. In that scenario, XRP may retest the weekly 200 EMA at $0.52, which could work as a critical support level. Featured image from Dall-E, chart from TradingView
XRP whales are bucking the trend with noticeable moves amidst a wider backdrop of uninspiring price movements for the cryptocurrency. A recent surge in XRP acquisitions has caught the crypto community’s attention, as large-scale investors acquired $228 million worth of the digital asset in a few days. Interestingly, this noticeable spike in buying comes on the heels of the launch of the Grayscale XRP Trust and an optimistic price prediction that sees XRP potentially hitting $5 in the next six to ten months. Whale Accumulation Increases Amidst Bullish Predictions This exciting movement by XRP whales was revealed through the crypto’s supply distribution on the social media platform X by Ali Martinez. According to the Santiment chart shared by the crypto analyst, wallets holding 10 million to 100 million XRP tokens recently pushed their total balance to a September peak of 7.17 billion XRP after adding about $288 million worth of XRP tokens in ten days. Related Reading: Grayscale XRP Trust Surges 11.44% One Week After Launch, Heres The Catalyst Based on the average price of the altcoin during this period, this equates to the acquisition of approximately 390 million tokens by this group of large holders, representing about 6.9% of the total circulating supply moving into the hands of a few key players. Although the total balance of the whales had dropped to about 7.11 billion XRP at the time of Martinez’s post, recent developments point to continued accumulation in the coming days. One of these developments is the recent launch of the Grayscale XRP Trust, which seems to be already attracting institutional investors to the token. However, despite this uptick in whale activity, XRP has not mirrored the price jumps in other major cryptocurrencies following a favorable U.S. Federal Reserve decision. The Federal Reserve’s 0.5% interest rate cut has fueled a broader inflow into the cryptocurrency market, propelling assets like Bitcoin and Ethereum to notable gains. In contrast, the price has struggled to break above the $0.60 mark, even with heightened whale activity. Crypto analyst Ash Crypto predicted that the altcoin could reach $5 in the next six to ten months. This forecast aligns with a wider backdrop of optimism within the crypto space, with multiple assets experiencing upward momentum as the effects of the Federal Reserve’s policy changes continue to ripple through markets. Related Reading: Dogecoin Open interest Remains Muted Below $500 Million, Whats Going On? XRP $5 Prediction According to a recent outlook by Ash Crypto, XRP is on target to perform a 300% to 740% increase in the current market cycle. Such a rally puts the altcoin at a price target between $3 and $5. Notably, the crypto analyst’s outlook isn’t based on a technical analysis but on fundamentals and a predicted rally by the general crypto market. As such, Ash Crypto’s outlook also forecasts Bitcoin trading between $150,000 and $250,000 and Ethereum trading between $10,000 and $15,000 in the next six to ten months. At the time of writing, XRP is trading at $0.5828. Featured image created with Dall.E, chart from Tradingview.com
XRP has shown remarkable resilience recently, maintaining its position above a critical support level, though a significant price move still looms. Key data from Santiment reveals that whales are actively accumulating XRP, having purchased over $228 million in the past few days. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed This aggressive accumulation suggests a growing confidence among large holders as the market rallies toward higher prices. Analysts and investors closely watch XRP, anticipating a breakout from key supply levels that could trigger a rally to new highs. With bullish sentiment rising, the next few days will be crucial in determining XRP’s price direction and its role in the ongoing market cycle. Will this whale activity lead to a major upward move, or could XRP remain in its current range? Only time will tell, but expectations are high as momentum builds in the broader crypto market. XRP Investors Waiting For A Big Move The crypto market has seen a significant surge, with Bitcoin and many altcoins posting double-digit percentage gains in recent days. The Federal Reserve’s decision to cut interest rates by 50 basis points sparked this rally, fueling optimism among investors now eyeing the potential start of a new crypto bull run. While investor sentiment for XRP has turned positive, the market has not yet reflected this in the token’s valuation. Top analysts and market participants are sharing insights that suggest XRP may be gearing up for a strong performance this cycle. One prominent technical and on-chain analyst, Ali, highlighted compelling data from Santiment, which shows that XRP whales are making substantial moves. In the past 10 days, these large holders have purchased over 380 million XRP, valued at approximately $228 million. This marks the highest level of whale accumulation since early August, a bullish signal for XRP. The accumulation of XRP by whalesoften considered smart moneyis a sign of strength and confidence in the token’s future price action. Related Reading: XRP The Safest Investment To Make 100% ROI Former Asset Manager Shares Price Targets As the broader market continues to push higher, investors are optimistic that this accumulation could be an early indicator of a major rally for XRP in the coming days. With momentum building, many are positioning for the next big move. Price Levels To Watch XRP is currently trading at $0.59 after several days of choppy price action, testing a supply level around this range. While XRP remains above the daily 200 moving average (MA) at $0.549a sign of long-term strengthit has struggled to close above the $0.60 mark since late August. For bulls to trigger a move to new local highs, the price must reclaim the $0.60 level and hold above it. Doing so would set the stage for a challenge to a key liquidity zone around $0.65. The $0.65 price point has served as a significant resistance level, unbroken since early March. It’s also considered a psychological barrier that, if breached, could drive the price to higher levels rapidly. Investors and analysts are keeping a close watch on this level, as breaking through it would likely bring renewed bullish momentum. Related Reading: Dogecoin Breaking Out Of Monthly Downtrend: Can DOGE Reach $12? However, if the price fails to close above the current price level in the coming days, a pullback toward the daily 200 MA around $0.55 is expected. This would mark a critical test of support, and any breach below this level could signal further downside risk for the token. Featured image from Dall-E, chart from TradingView
Grayscale’s XRP trust has grown noticeably since launch, a development which spells positive momentum for the digital asset. As one of the leading cryptocurrency asset managers in the world, Grayscale’s decision to unveil the first XRP trust in the US last week signaled the beginning of an institutional influx of funds into the cryptocurrency. Since its [...]
The post Grayscale XRP Trust Surges 11.44% One Week After Launch, Heres The Catalyst appeared first on Crypto Breaking News.
The XRP price has dropped to $0.55 as the crypto token continues to struggle to break above the $0.60 resistance level. This recent drop is due to several factors, including Ripple’s recent token unlocks. Ripples Unlocks Causes Price To Drop According to the on-chain analytics platform Whale Alert, Ripple unlocked 1 billion XRP tokens ($559 million) from its escrow wallet on September 1. This formed part of the token unlocks, which the crypto firm is known to carry out monthly. These token unlocks were carried out in three transactions, with 500 million XRP, 200 million XRP, and 300 million XRP unlocked from the escrow wallet in these three transactions. Related Reading: Dogecoin Eyes Massive Bull Surge As Metrics Turn Green This sparked a bearish sentiment for the XRP price, causing it to drop. Ripples XRP unlocks always create a supply shock, which causes XRP investors to panic and sell off their holdings in fear that the crypto firm may be looking to offload some or all of the tokens that it has unlocked from escrow. This panic among XRP investors comes despite reports that Ripples XRP sales do not impact the cryptos price on exchanges, as they are likely done over the counter. Meanwhile, Ripple once again received criticism from some members of the XRP community following the recent token unlocks, with one of them calling the crypto firm a scam. Another reason the XRP price plunged to $0.55 is the current bearish sentiment in the broader crypto market. Bitcoin (BTC) dropped below $58,000 on September 1, thereby sparking a downtrend for other crypto tokens. The flagship cryptos price action has remained indecisive, weighing on the fate of other tokens. The XRP price is undoubtedly at risk of dropping lower if Bitcoin fails to establish a bullish trend soon enough and rises above $60,000. Some Positives For The XRP Price Despite the panic caused by Ripples XRP unlocks, it is worth mentioning that the crypto firm locked 800 million XRP ($442 million) tokens back in escrow. This is a bullish development for the XRP price as it will help allay the fears of XRP investors who believed that Ripple was looking to sell the 1 billion XRP tokens that were earlier unlocked. Related Reading: The Curse Of September: Is Another Massive Bitcoin Sell-Off Coming? Another positive for XRP and its holders is that the likelihood of the US Securities and Exchange Commission (SEC) appealing its case against Ripple is dropping as the 60-day window for the Commission to do so draws closer. If the SEC eventually chooses not to appeal, that will provide some bullish momentum for the XRP price, considering how much impact the lawsuit has had on the crypto so far. At the time of writing, XRP is trading at around $0.549, down over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
A new XRP price prediction by popular crypto pundit Egrag Crypto projects that the cryptocurrency could experience a historical price surge of about 9,468%. This predicted price gain would push XRP from its current price of $0.58 to $27, marking new All-Time Highs (ATHs). XRP Price Forecasted To Pump To These Targets Egrag Crypto has [...]
The post XRP Price Prediction: Crypto Pundit Predicts Historical 9,468% Pump To $27 appeared first on Crypto Breaking News.
Here are the latest developments surrounding the Ripple v. SEC case.
After a solid bullish rebound, Ripple’s price surged to the $0.60 level. However, it has since entered a brief consolidation phase, which may pave the way for further upward movement toward the significant $0.64 resistance. XRP Analysis By Shayan The Daily Chart A closer look at Ripple’s daily chart reveals that following an increase in […]
XRP is holding strong above a critical price level after weeks of choppy price action, now testing local demand to push higher. Many analysts and investors remain confident about a potential surge in the coming months, with some projecting significant price gains once XRP consolidates above current levels. Related Reading: Dogecoin Breaking Out Of Monthly Downtrend: Can DOGE Reach $12? One top analyst and former asset manager, Amdtrades, shares this optimistic outlook, predicting a price increase above $1.26 shortly. Despite the confidence, uncertainty lingers across the broader market. The next few days will be crucial in determining the overall direction of XRP and the crypto market. Analysts believe that how XRP performs during this period could either fuel bullish sentiment or lead to further consolidation. Investors are closely watching these developments, as XRPs movement could set the tone for market trends in the coming months. XRP Could Surge To $1.26 In Weeks XRP has recently demonstrated notable resilience compared to other altcoins. It has held firm above key liquidity areas and signaled a positive outlook for the months ahead. Many analysts and investors are beginning to notice the potential for a substantial price surge shortly. One prominent crypto analyst, Amdtrades, with nine years of experience as an asset manager and derivatives trader, recently shared his technical analysis on X, highlighting XRPs strong positioning. In his analysis, Amdtrades showcased a weekly XRP chart that clearly outlines a defined uptrend. This uptrend has been consistently respected by the price, suggesting solid monthly support that could serve as the foundation for further upward momentum in this market cycle. Amdtrades views XRP as one of the safest investments for those seeking a 100% return on investment (ROI) in the crypto space. He has identified several key price targets for XRP, specifically around $1.18 and $1.26, which he anticipates will be reached in the coming weeks. Related Reading: Solana (SOL) Faces Serious Risk After Failing To Close Above Key Level Details According to his analysis, if XRP continues to hold above current levels and successfully clears out local supply near $0.70, an aggressive surge toward these targets is highly likely. Such a breakout would not only validate XRPs uptrend but also position the cryptocurrency for even higher price levels as bullish sentiment strengthens. As the market faces uncertainty, XRP remains a strong contender for those looking to capitalize on its strength and potential upside in the near term. Price Action Details XRP is currently trading at $0.587 after several days of volatility, following a 19% surge from local lows. The altcoin has struggled to break past this price level, but it remains above a critical support area. XRP is trading above the 4-hour 200 exponential moving average (EMA) at $0.563, which has acted as a key indicator of short-term strength. This level was tested as support yesterday, confirming XRP’s recent stability despite volatile market conditions. For bulls to maintain momentum, XRP must break above the $0.60 mark, confirming a higher high and signaling a move toward higher supply levels. Breaking this resistance would suggest the continuation of a bullish trend and potentially lead to a stronger recovery for the altcoin. Related Reading: Bitcoin (BTC) Long-Term Holders Locking Consistent Gains: A Sign Of Stability? On the other hand, if XRP fails to maintain support above the 4H 200 EMA, it could face a deeper correction. A breakdown would likely lead the price to test local demand around the $0.545 level, putting short-term bullish hopes in jeopardy. Maintaining support at current levels is essential for a sustainable rally. Featured image from Dall-E, chart from TradingView
The XRP price has experienced a notable surge in recent days amidst the wider backdrop of the crypto industry. At the time of writing, many cryptocurrencies are starting to reverse their seven-day gains due to Bitcoin’s failure to break above $60,000 on Monday. However, XRP continues to stand firm, registering a 2.23% gain in the past 24 hours. This positive price movement has sparked discussions within the crypto community about the potential for a significant breakthrough. Analyst Identifies $0.75 As A Crucial Target EGRAG CRYPTO’s highlight of the $0.75 price mark for XRP is based on an XRP/USD price chart on the weekly candlestick timeframe, which he shared on social media platform X. Interestingly, the latest highlight comes as an update to his XRP analysis from January 2024. This analysis focuses on XRPs price structural formation, sentiment status, MACRO range, and psychological zone, all in critical price zones. The most notable are the MACRO range, which starts at $0.71, and the psychological zone at $0.932. Related Reading: Dogecoin At $0.1 Is A Gift, Falling Wedge Breaking Bullish To Send Price To $0.2 According to crypto analyst EGRAG Crypto, the key resistance level for XRP is $0.75, which could make or break its journey to $1. As EGRAG noted, all these levels can be shattered with just one strong daily candle, with emphasis on $0.75. For XRP, the $0.75 mark is within the MACRO range. Interestingly, XRP is yet to break above $0.75 this year, with its highest point so far being $0.718. Should the cryptocurrency manage to close above this level on a weekly timeframe, it could pave the way for a more substantial price rally. Will The XRP Price Sustain A Rally To $1? At the time of writing, the XRP price is trading at $0.5851 and is still on 8.4% gains in seven days. Based on the recent update, EGRAG noted that the move towards $1 is still in play, as XRP is poised for a massive breakout. Although EGRAG only noted the $0.75 price as the most crucial for a breakthrough, there exist other resistance levels that serve as forerunners. Looking at the XRP price chart, XRP has been trading below $0.62 since March. Interestingly, the cryptocurrency has retested this price level at least six times since then and has failed to break above. Related Reading: Bitcoin Accumulation In Full Swing As $1.3 Billion Exits Exchanges, $75,000 Next? From a technical perspective, $0.62 has emerged as a pivotal price point, acting as a short-term hurdle that XRP bulls must conquer before setting their sights on the more significant $0.75 resistance. A clear break above these levels would signal increasing buyer strength and potentially open the door for a campaign to $1. From a fundamental point of view, the XRP price is starting to campaign to the $1 mark in light of recent events in the XRP ecosystem. One such event is Grayscale’s recent unveiling of the first XRP trust in the US. This move has prompted speculation that an XRP ETF will hit the market soon. Another noteworthy development is the relisting of XRP on the European version of Robinhood. Featured image created with Dall.E, chart from Tradingview.com
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