XRP Targets Key Price Level Amid Bullish Momentum: Can It Break Resistance?

2024-9-16 23:30

XRP has shown strong bullish momentum, following a local low a few days ago as per analysis by Lucky Chart Ape. This uptrend is particularly noticeable in the XRP/USDT perpetual contract on the 30-minute chart. 

The price of XRP has formed a series of higher highs and higher lows as it continues its upward trajectory. The current price uptrend puts the price range within an ascending channel with traders currently eyeing the 38.2% Fibonnacci retracement level.  

$XRP has been in a strong local uptrend since these lows a couple days ago. Although some deeper pullbacks would look interesting as-well. I am personally interested in looking for some tight invalidation adds to me longs taking out a bit of this trendline liquidity into the… https://t.co/5kUkG8zwLR pic.twitter.com/7ATJGmsDHL

— Lucky Chart Ape (@luckychartape) September 15, 2024

This level is around $0.5780, as a critical support area. This level represents a shallow pullback, which could serve as a foundation for the next upward move.

Key Support and Resistance Levels to Watch

Besides the 38.2% level, other significant support levels include the 61.8% Fibonacci retracement at $0.5761 and the 100% retracement at $0.5539. If XRP faces stronger selling pressure, these levels could offer a cushion to the downside. 

However, the current sentiment favors a continued uptrend, with the shallow pullback scenario likely to play out if the 38.2% level holds.

Moreover, resistance levels are also key to understanding the next potential moves. Immediate resistance is located at $0.5932, just above the current price level. 

Breaking through this resistance could lead to further bullish momentum, pushing the price toward the upper resistance zone between $0.5952 and $0.5991. These levels may attract sellers, but if buying pressure remains strong, XRP could break through and extend its upward movement.

.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} Celebrate Dogecoin and Make Big Gains with Doge2014!.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}

Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +Show less –

Read also: Robert Kiyosaki Predicts Bitcoin Price Is About To ‘Explode’ – Here Are His Reasons

Market Sentiment and Its Impact on Price Action

Additionally, market sentiment plays a key role in shaping XRP’s price action. The weighted sentiment and social dominance of XRP have shown a strong correlation with price swings. 

Source: Santiment

Positive sentiment spikes often coincide with price increases, especially during periods of high social activity. This suggests that a continued positive sentiment may support the ongoing uptrend.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.

The post XRP Targets Key Price Level Amid Bullish Momentum: Can It Break Resistance? appeared first on CaptainAltcoin.

origin »

Ripple (XRP) на Currencies.ru

$ 2.0751 (+0.35%)
Объем 24H $6.245b
Изменеия 24h: 0.51 %, 7d: -7.22 %
Cегодня L: $2.0147 - H: $2.1124
Капитализация $119.13b Rank 4
Цена в час новости $ 0.5772 (259.51%)

xrp momentum bullish chart uptrend ape analysis

Источник: captainaltcoin.com

xrp momentum → Результатов: 126


Latest Litecoin Price Momentum Has Crypto Investors Predicting LTC Can Oust XRP By End of 2019

A recent article has made a pretty interesting and largely optimistic prediction for Litecoin (LTC). The article which was posted on the official Forbes website, projected that Litecoin will end the year as the third largest cryptocurrency ranked by the market capital, ultimately displacing Ripple’s XRP, which is the current third position. Possible Reasons for […]

2019-3-10 22:00


XRP Price Rises Slowly as Tencent Confirms Interest in Ripple’s Currency

With all of the top markets enjoying some positive momentum, one would expect the likes of XRP to note strong gains. While there is indeed a minor uptrend in place, it is far from spectacular. Despite this somewhat disappointing rise in value, some community members are convinced the XRP price is effectively heading to the […] The post XRP Price Rises Slowly as Tencent Confirms Interest in Ripple’s Currency appeared first on NullTX.

2019-2-18 11:19


Фото:

Ethereum Price Continues its Push Toward $130 Despite Bearish Bitcoin Momentum

With a tiny bit of bearish pressure on Bitcoin, one would expect both XRP and Ethereum to take advantage of the situation. Contrary to that belief, XRP is not noting any gains right now. Instead, the Ethereum price is getting all the love, as this value is seemingly underway to hit $130 in fairly quick […] The post Ethereum Price Continues its Push Toward $130 Despite Bearish Bitcoin Momentum appeared first on NullTX.

2019-2-18 21:22


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

YouTube Analyst Makes Realistic Cardano (ADA) Price Prediction

A YouTube analysis by Crypto Moose has provided insights into Cardano (ADA) price predictions for 2025. In his video, Moose shared low-end and high-end projections, emphasizing the advancements in Cardano’s ecosystem and market dynamics since 2021.