XRP, the native crypto token of the Ripple protocol, was one of the worst-performing altcoins of the last year due to a powerful bear trend the asset just couldn’t break free from.
But that 680-day bear trend was just broken, suggesting that a ripple-effect could trigger an epic recovery rally in XRP in the days ahead.
XRP Breaks Out of 680-Day Bear Trend, Claims 200-Day EMA
Few altcoins have suffered as badly as XRP. After an over 90% drawdown from all-time high prices, the cryptocurrency was stuck in a long, arduous downtrend.
At each glimmer of hope and recovery, the altcoin’s price was swatted back down by a combination of bearish investors and Ripple executives dumping on the market to fund operations.
Related Reading | Huge XRP Rally Triggers Key Indicator to Light Up For First Time in a Year
The cryptocurrency token has fallen from prices of well over $3.50 to as low as 17 cents per token at its December 2019 low.
From that low, however, XRPis already up a total of 93%. Year-to-date, Ripple is already up well over 80%. In February alone, XRP has increased by over 40%.
But with such explosive gains already ready for traders to book, could the rally really go much further?
Ripple Breakout Could Take Prices to New All-Time High
A breakout from a 680-day bear trend could provide the fuel to take XRP prices much higher.
The breakout of the bearish trend also is accompanied by a breach of the 200-day exponential moving average.
The number three cryptocurrency by market cap is also above the cloud or “Kumo” on the Ichimoku indicator – an indicator designed to provide a full “at-a-glance” look at an asset’s health.
$XRP 680-day bear trend over
– above 200-day EMA– above bear PF– above Cloud pic.twitter.com/C47ndnVcCP
— Josh Olszewicz (@CarpeNoctom) February 14, 2020
As for how far XRP could fly, its anyone’s guess. However, past data shows that XRP could rally as much as 6,000% in the coming months, and reach prices of as much as $14 per token if a similar move occurs.
After the last major downtrend breakout, Ripple rallied from just pennies to well over $3.50 at the crypto bubble peak in early 2018. The powerful move shocked investors and got the world talking about the cryptocurrency.
Related Reading | Ready For Liftoff: Two-Year Downtrend Breakout Could Lead to $14 XRP
Since then, XRP was one of the worst-performing crypto assets two years running. But those woes could all soon reverse, and Ripple could recover much of the value it lost on the way down, in very little time, if the asset behaves as it has in the past.
With so much pressure built up below resistance, a further breakout in XRP could cause the asset to skyrocket. And at that point, extreme FOMO will kick in and carry prices even further – potentially to a new all-time high of $14 in the months ahead.
Featured image from Shutterstock origin »
Over the past 24-hours, many of the market's major altcoins have registered significant gains. Alas, a larger change in trend was yet to be observed, at the time of writing. While XRP, EOS, and DigiByThe post XRP, EOS, and DigiByte's positive returns undercut by declining market trend appeared first on AMBCrypto.
On the downside, if the bearish trend is ongoing the crypto’s price will fall to the previous low at $0. 30200. On the upside, if a bullish candlestick breaks the trend line and another one closes on the opposite of it; the trend is said to be terminated.
XRP/USD Medium-term Trend: Bullish Resistance Levels: $ 0. 61, $0. 63, $ 0. 65 Support Levels: $0. 28, $0. 26, $0. 24 Last week, the XRP price was in the bearish trend zone. The crypto’s price was trading at its low at $0.
It is pretty rare that we see news like this, especially when the markets are moving in a very negative direction, but, for some reason, Ripple XRP, Stellar XLM and Cardano ADA have taken a sudden upswing, in a market that is otherwise within a very heavy down trend.
XRP/USD Medium-term Trend: Bearish Resistance Levels: $0. 44, $0. 45, $ 0. 46 Support Levels: $0. 43, $0. 42, $0. 41 Yesterday, July 31, XRP price was in a bearish trend. The XRP price fell and broke the support level of the range bound zone and price pullback .
Key Highlights Ripple price extended slides and traded below the $0. 4300 support level against the US dollar. There is a new connecting bearish trend line formed with resistance near $0. 4325 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP/USD Medium-term Trend: Ranging Resistance Levels: $0. 46, $0. 45, $ 0. 44 Support Levels: $0. 44, $0. 43, $0. 42 Yesterday, July 30, XRP price was in a sideways trend. The XRP price is yet to make any significant movement.
XRP/USD Long-term Trend: Ranging Supply Zone: $0. 46, $0. 47, $0. 48 Demand Zone: $0. 44. $0. 43, $0. 42 The XRP price was also range bound in the month of July between the levels of $0. 51 and $0. 43.
XRP/USD Medium-term Trend: Ranging Resistance Levels: $0. 47, $0. 48, $ 0. 49 Support Levels: $0. 44, $0. 43, $0. 42 Yesterday, July 26th, the price of Ripple was also fluctuating between the levels of $0.
Key Highlights Ripple price failed to break an important resistance at $0. 4675 and declined against the US dollar. There was a break below a connecting bullish trend line with support at $0. 4620 on the hourly chart of the XRP/USD pair (data source from Kraken).
Ripple (XRP) once the favorite stallion has recently been more of a dark horse as investors lose interest amidst legal troubles and concerns over XRP’s use cases. The above chart for XRP/USD shows that the price has suffered the most compared to most cryptocurrencies and appears to have reached rock bottom.
Key Highlights Ripple price remained confined in a tiny range above the $0. 4500 support against the US dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $0.
Key Highlights Ripple price is slowly recovering and is currently trading above $0. 4500 against the US dollar. There is a major bearish trend line in place with resistance at $0. 4680 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP/USD Medium-term Trend: Bearish Resistance Levels: $0. 46, $0. 47, $ 0. 49 Support Levels: $0. 44, $0. 43, $0. 42 Yesterday, July 23rd, the price of Ripple was also in a sideways trend. But yesterday the cryptocurrency depreciated to the low of $0.
The positive trend continues, now we must start to ask ourselves if a bull run is really imminent here?
As the markets continue to recover and move up to figures not experienced since April, we should start to look the implications of this.
Key Highlights Ripple price found support near the $0. 4300 level and recovered a few points against the US dollar. There was a break above major connecting bearish trend line with resistance at $0.
Key Highlights Ripple price broke a major support area near $0. 4750 to move into a bearish zone against the US dollar. There is a key bearish trend line in place with resistance at $0. 4700 on the hourly chart of the XRP/USD pair (data source from Kraken).
All five of the top currencies have lost value, with the XRP price facing the biggest setback of them all. The XRP Price Dips Briefly It is evident all cryptocurrencies have to go through a small correction after the sudden bullish trend late last week and earlier this week. XRP Price watchers have noticed how
Ripple price climbed higher recently and settled above $0. 4800 against the US Dollar. XRP/USD is now placed in a nice uptrend with hurdles near $0. 5050 and $0. 5230. Key Talking Points Ripple price recently declined from the monthly high of $0.
XRP/USD Medium-term Trend: Bullish Resistance Levels: $0. 48, $0. 49, $ 0. 50 Support Levels: $0. 46, $0. 45, $0. 44 Yesterday, July 18th, the price of Ripple was in a bullish trend. The price of the cryptocurrency rose to the high of $0.
Key Highlights Ripple price made a nice upside move before facing sellers near $0. 5245 against the US dollar. There was a break below a crucial bullish trend line with support at $0. 4950 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price rocketed higher and broke the $0. 5000 and $0. 5200 resistance levels against the US dollar. There is a major bullish trend line in place with support at $0. 4920 on the hourly chart of the XRP/USD pair (data source from Kraken).
For all cryptocurrency markets, the next few hours may prove to be crucial. All of yesterday’s positive market momentum is in the books. Right now, it is time to decide if this trend continues or falls apart entirely.
Key Highlights Ripple price is surging higher and it recently broke the $0. 4500 resistance against the US dollar. There is a key connecting bullish trend line formed with support at $0. 4750 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price recovered recently, but it is facing a significant resistance near $0. 4500 against the US dollar. There was a break above a key bearish trend line with resistance at $0.
XRP/USD Long-term Trend: Bearish Resistance Levels: $0. 47, $0. 48, $0. 49 Support levels: $0. 45, $0. 46, $0. 46 The XRP/USD pair was also in the downward trend since April 22, 2018, at a price of $0.
XRP/USD Medium-term Trend: Bearish Resistance Levels: $0. 46, $0. 47, $ 0. 48 Support Levels: $0. 43, $0. 42, $0. 41 Yesterday, July 12, the price of Ripple was also in a bearish trend. The Ripple price closed at a price of $0.
Key Highlights Ripple price traded to a new weekly low below $0. 4250 before recovering against the US dollar. There is a new major bearish trend line in place with resistance near $0. 4450 on the hourly chart of the XRP/USD pair (data source from Kraken).
Ripple, the company, continues to have many moving parts, including further implementations of enterprise solutions, distancing itself from the XRP token, and dealing with claims that the XRP token represents an unregistered security.
It’s hardly breaking news that the markets are down, again, is it?
As the bears continue to squeeze the life out of the markets, we are seeing value pour out of cryptocurrencies at a shocking rate.
Ripple price is under a lot of pressure below $0. 5000 against the US Dollar. XRP/USD is likely to accelerate declines towards the $0. 4200 and $0. 4100 levels. Key Talking Points Ripple price is in a major downtrend from the $0.
XRP/USD Medium-term Trend: Bearish Resistance Levels: $0. 46, $0. 47, $ 0. 48 Support Levels: $0. 44, $0. 43, $0. 42 Yesterday, July 10, the price of Ripple was in a bearish trend. The cryptocurrency was consolidating at a price of $0.
Reports this afternoon are highlighting the scale of the current market climate, by pointing out that in 24 hours alone, the markets have lost around $22 Billion. $22 Billion is a lot of money, in fact for the majority of us, that sort of money could sort us out for life.
XRP/USD Medium-term Trend: Ranging Resistance Levels: $0. 45, $0. 46, $ 0. 47 Support Levels: $0. 43, $0. 42, $0. 41 Yesterday, July 9, price of Ripple was in a sideways trend. In the medium term trend, the cryptocurrency is still in a sideways trend.
Key Highlights Ripple price extended its decline and broke the $0. 4700 support area against the US dollar. Yesterday’s highlighted major bullish trend line was breached with support at $0. 4690 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP/USD Medium-term Trend: Ranging Resistance Levels : $0. 48 , $0. 49, $ 0. 50 Support Levels: $0. 46, $0. 45, $0. 44 Last week, the price of Ripple was in a sideways trend. Price of the cryptocurrency is fluctuating between the resistance level at $0.
Key Highlights Ripple price declined a few points recently after trading as high as $0. 4877 against the US dollar. There is a key bullish trend line forming with support at $0. 4680 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price failed to hold an important support at $0. 4750 and declined against the US dollar. Yesterday’s highlighted important bullish trend line was breached with support at $0.
Key Highlights Ripple price is following a bullish path above the $0. 4750 pivot level against the US dollar. There is a major bullish trend line in place with support at $0. 4900 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP/USD Medium-term Trend: Bullish Resistance Levels : $0.50 , $0.51, $ 0.52 Support Levels: $0.48, $0.47, $0.46 Yesterday, July 4, price of Ripple was in a bullish trend. The use of trend line was suggested in a bullish trend to determine support levels in order to initiate long trades. The bullish trend is continuing as […]
XRP/USD Medium-term Trend: Bullish Resistance Levels : $0. 49 , $0. 50, $ 0. 51 Support Levels: $0. 47, $0. 46, $0. 45 Yesterday, July 3, the Ripple cryptoasset was in a bullish trend. Today, the price of cryptoasset has retraced and it is testing the bullish trend line.
Key Highlights Ripple price traded further higher and almost tested the $0. 5250 resistance against the US dollar. There is a new bearish trend line in place with resistance at $0. 4850 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP/USD Medium-term Trend: Bullish Resistance Levels : $0. 50 , $0. 51, $ 0. 52 Support Levels: $0. 48, $0. 47, $0. 46 Yesterday, July 2, price of Ripple is in a sideways trend. Today, the cryptoasset is in a bullish movement.
XRP/USD Medium-term Trend: Bearish Resistance Levels : $0. 46 , $0. 47, $ 0. 48 Support Levels: $0. 44, $0. 43, $0. 42 Last week the Ripple cryptoasset was in a bearish trend. The cryptoasset fell from the high of $0.
XRP/USD Long-term Trend: Bearish Supply Zone: $0. 50, $0. 55, $0. 60 Demand Zone: $0. 45. $0. 40, $0. 35 The XRP/USD pair was also in a downward trend like the other cryptocurrencies. The price of Ripple was $0.
Key Highlights Ripple price failed to move above the $0. 4750 resistance and declined against the US dollar. There is a major bearish trend line in place with resistance near $0. 4600 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price failed to hold gains above the $0. 4700 support and declined against the US dollar. There is a new key bearish trend line formed with resistance near $0. 4600 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights Ripple price traded higher and settled above the $0. 4700 resistance against the US dollar. Yesterday’s highlighted key bearish trend line was breached with resistance at $0. 4720 on the hourly chart of the XRP/USD pair (data source from Kraken).
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