XRP Price Alert: Breakout Could Confirm Today

2024-2-15 19:00

The XRP price has been in a downtrend since mid-November 2023. However, the XRP bulls seem to be taking control again if the following happens. An analysis of the 1-day chart of XRP/USD reveals that a potential price breakout is imminent.

As of February 15, 2024, the price indicates an uptick in bullish momentum, with the pair currently trading at $0.55335, marking a 4.1% increase in the last 24 hours. A closer inspection reveals that XRP is challenging two critical resistance levels.

XRP Price Needs To Break These Levels

First, the Fibonacci retracement levels, drawn from the swing high at approximately $0.74854 to the swing low at $0.43085, show that the XRP price is currently facing the 0.618 level at $0.55221, which is a notable level for traders as it often acts as a pivot in market sentiment. XRP’s push through this level could indicate a shift towards a bullish outlook.

Second, the 1-day chart also features a descending channel pattern, which began forming in early-December 2023. The upper boundary of this channel has been tested multiple times, and the current price action is once again approaching this boundary. A definitive breakout above this descending channel could signal a trend reversal.

For this to happen, the XRP price needs to break above the $0.55 mark, which coincides with the 0.618 Fibonacci level. Adding to the bullish narrative, the Exponential Moving Averages (EMAs) show a potential bullish crossover in progress. The EMA 20 (red line) at $0.52865 is trending upwards, suggesting short-term momentum is gaining.

The EMA 50 (orange line) and EMA 100 (green line) are positioned at $0.54761 and $0.56331 respectively, with the EMA 200 (blue line) at $0.55985, serving as a long-term momentum indicator. A break above this cluster of EMAs, especially the 200-day EMA aka “bull line” could add to the bullish arguments.

Notably, volume levels have been moderate, and the Volume Oscillator does not show any abnormal spikes, indicating that the current price increase is not yet backed by significant trading volume. This could suggest that the breakout, if it occurs, may need to be confirmed with higher volume to sustain the move.

The Relative Strength Index (RSI) is at 59.62, which is below the overbought threshold of 70, indicating that there is still room for upward movement before the asset is considered overbought.

Breakout Confirmation Today?

Overall, traders need to keep a close eye on whether the XRP price can sustain its movement above the $0.55 to $0.56 range. If this is accompanied by an increase in volume, it could confirm the breakout from the descending channel and possibly lead to a new uptrend.

Given the current technical setup, today’s trading session is crucial for determining the short-term direction of XRP. If XRP closes above the 0.618 Fib, descending channel as well as 200-day EMA, the bulls could finally be back.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 1.546 (-0.34%)
Объем 24H $19.251b
Изменеия 24h: 12.92 %, 7d: 59.13 %
Cегодня L: $1.4475 - H: $1.6124
Капитализация $88.122b Rank 6
Цена в час новости $ 0.5485 (181.86%)

xrp price breakout analysis happens again following

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