Ripple (XRP) Comeback Plan: Bulls Aim for 85% Price Rise on This Resistance Break

2023-9-2 19:00

Ripple’s XRP price has decreased considerably since its yearly high. The price is at risk of closing below the $0.55 horizontal area.

Whether the price closes below the area or bounces will determine the future price trend.

XRP Price Falls Below Long-Term Support

The technical analysis in the weekly time frame for XRP gives a mostly bearish outlook. There are several reasons for this.

Firstly, the XRP price was rejected by the 0.382 Fib retracement level at $0.93 as soon as it reached a new yearly high. This created a very long upper wick (red icon), considered a sign of selling pressure.

Crypto investing, simplified. Get XRP price predictions here.

Secondly, the price is now falling below the long-term $0.55 horizontal support area. The area has intermittently acted as both resistance and support since the beginning of 2021. Therefore, a weekly close below will confirm that the trend is bearish. In that case, a 40% drop to the $0.30 horizontal support area will likely be the future price scenario.

XRP/USD Weekly Chart. Source: TradingView

Finally, the weekly RSI is turning bearish. The RSI is a momentum indicator used by traders to evaluate whether a market is overbought or oversold and to determine whether to accumulate or sell an asset.

Readings above 50 and an upward trend suggest that bulls still have an advantage, while readings below 50 indicate the opposite.

The indicator broke down from an ascending support line (green line) and is now at risk of falling below 50. However, similarly to the price action, the RSI has not closed below 50 yet, offering hope for a potential bullish reversal. In that case, the 0.382 Fib retracement resistance would be 85% above the current price.

It is also worth mentioning that the Ripple vs. SEC case will continue next year, with the next trial date being April 2024.

Check Out the Best Upcoming Airdrops in 2023

Will XRP Price Fall to Ascending Support?

The daily timeframe readings support the bearish ones from the weekly timeframe. The XRP price has fallen considerably below the main support area at $0.54 in this timeframe. In fact, the price has validated the area as resistance twice (red icons).

Additionally, the daily RSI is below 50 and falling. These are both considered signs of a bearish trend.

If the downward movement continues, there is an ascending support line at $0.39. A decrease in it would amount to a drop of 23%, measuring from the current price. The line could provide temporary relief before the long-term horizontal support area at $0.30.

XRP/USDT Daily Chart. Source: TradingView

Despite this bearish XRP price prediction, a close above the $0.55 horizontal area will mean that the breakdown is invalid and the trend is still bullish. In that case, an 85% increase to the $0.93 resistance will likely be the future price outcome.

Step into the future of crypto with XRP price predictions 

For BeInCrypto’s latest crypto market analysis, click here.

The post Ripple (XRP) Comeback Plan: Bulls Aim for 85% Price Rise on This Resistance Break appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 1.3571 (-3.17%)
Объем 24H $12.178b
Изменеия 24h: -11.42 %, 7d: 26.22 %
Cегодня L: $1.3127 - H: $1.5078
Капитализация $77.35b Rank 6
Цена в час новости $ 0.4973 (172.89%)

xrp price rise break ripple resistance comeback

Источник: beincrypto.com

xrp price → Результатов: 126


Фото:

XRP Price Prediction: XRP To Reach A Project Price Of $5, While This Solana Killer Eyes 20,000% Gains

Finally, the XRP price is eyeing a long-anticipated breakthrough to the $5 mark. With recent market dynamics in play, the XRP price has positioned itself for an increase, but there’s a new player in the spotlight: WallitIQ (WLTQ), a crypto asset that’s gaining attention as a potential “Solana killer.” Analysts […]

2024-11-11 03:00


Seasoned Trader Eyes $35 For XRP, Says It’s Not As Crazy As It Sounds

A well-experienced trader recently got significant attention after making a bold statement that an XRP price hike could be somewhere between $30 to $35 based on his assumptions of the market. Related Reading: Floki Inu Warning: Analyst Says ‘Prepare For The Crash’ – Details Critics slammed his forecast, but Ralston Maximus, a seasoned investor, defended that the predicted price of XRP climbing to $35 is reasonable.

2024-10-29 18:00


XRP Price Growth: Analyst Breaks Down The Movements And Why It’s So

The reason behind the stagnant XRP price growth has remained a mystery, with many crypto analysts pointing to legal disputes and market volatility as key factors holding back its momentum. However, even during favorable market conditions and after gaining legal clarity following multiple Ripple Court wins against the United States Securities and Exchange Commission (SEC), XRP has still failed to experience a notable upward surge.

2024-10-16 23:00


XRP Price Set for Explosive Rally, Analyst Shares Timeline

XRP is getting close to a crucial level, and experts expect an upcoming breakout. Analyst EGRAG CRYPTO tweeted that XRP is likely to swing s in price during the next 15 to 30 days.  Complementing a thorough chart, the tweet highlighted important levels of support and resistance, therefore suggesting possible price targets for the short […] The post XRP Price Set for Explosive Rally, Analyst Shares Timeline appeared first on CaptainAltcoin.

2024-10-16 22:30


XRP Price Set To Reach $40 As Dogecoin’s Price Readies To Move 10,000% To $10

A recent analysis by a crypto analyst identified as ’Steph The Crypto’ is riling up the Ripple (XRP) community, as the analyst predicts a rapid surge in XRP’s price to $40. This pump could potentially place Ripple (XRP) in competition with top cryptocurrencies like Dogecoin, and ETFSwap (ETFS), both expected to experience explosive gains— Dogecoin […] The post XRP Price Set To Reach $40 As Dogecoin’s Price Readies To Move 10,000% To $10 appeared first on CaptainAltcoin.

2024-9-18 16:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ripple CTO Reveals Why The Payment Business Hasn’t Caught On In A ‘Big Way’

In an exchange on X (formerly Twitter), Ripple’s Chief Technology Officer David Schwartz, also known as “JoelKatz”, addressed criticisms about his company and the XRP Ledger. Has Ripple Failed With Its Payments Business? User @188ape challenged Schwartz by questioning the uniqueness of the XRPL in today’s market, stating that it seems like “most new layer […]

Ripple USD Gains Early Customer Commitments Ahead Of Launch

Ripple President Monica Long has revealed that the company’s upcoming US dollar stablecoin, Ripple USD (RLUSD), has already secured early customer commitments prior to its official launch. Speaking at the Singapore Fintech Festival, Long emphasized that stablecoins are set to become a “massive trend” in the payments industry.

Ripple Rumored To Consider Dirham-Backed Stablecoin In UAE

Ripple Labs could be exploring the launch of a dirham-backed stablecoin in the United Arab Emirates (UAE), expanding beyond its existing US-dollar-backed stablecoin, RLUSD. This speculation arises following Ripple’s newest blog post dated November 7, 2024, titled “UAE Stablecoin Regulation: A Blueprint for Financial Innovation.

Ripple Vs. SEC: New Deadline Announced By Second Circuit Court

The United States Court of Appeals for the Second Circuit has issued an order in the XRP lawsuit between the Securities and Exchange Commission (SEC) and Ripple Labs, Inc. The court has mandated that the SEC must file its appellate brief by January 15, 2025, setting a firm deadline. Ripple Case Update: New SEC Filing […]

Ripple Files Civil Appeal Pre-Argument Statement Against SEC: Key Takeaways

On Thursday, October 24, Ripple Labs filed the Civil Appeal Pre-Argument Statement, known as Form C, in its case with the US Securities and Exchange Commission (SEC). This document outlines the critical issues the company intends to present on appeal, each subject to a de novo standard of review, meaning the appellate court will re-examine […]

Elon Musk Speaks Out On XRP: A Game Changer For Crypto?

Elon Musk, CEO of Tesla and SpaceX, directly mentioned XRP for the first time during a Town Hall meeting in Pittsburgh, Pennsylvania. The dialogue unfolded when an attendee, seemingly a supporter, asked Musk: “Do you envision the XRP Ledger being incorporated into financial institutions in the future?” He responded thoughtfully: “I do think that cryptocurrency […]