Ripple consolidating near $0.750, like Bitcoin. XRP must stay above $0.70 for a fresh increase. Last week, XRP rallied above $0.50, reaching $1.00, but later corrected below $0.850. Ripple price surged above $0.50, reaching $1.00, before retracing and falling below $0.850 against the USD.
XRP's 73% surge pauses amid looming challenges. After surpassing $0.938, strong resistance at $0.9118 led to a corrective phase for renewed bullish momentum. XRP Price dipped below the 23.6% Fib retracement level of the upward move, ranging from the $0.4695 swing low to the $0.9380 high. Nevertheless, support near the $0.70 zone emerged. The bulls are currently defending the 50% Fib retracement level of the aforementioned upward move.
XRP is near the lower boundary of a symmetric triangle pattern on the 4-hour chart. A breach of this level may lead to selling pressure, targeting the 50% retracement near $0.70. However, if XRP holds this level and breaks above $0.760 and the 38.20% retracement level, it could potentially reach new highs in the days ahead.
According to Coingabbar Price Analysis, Market capitalization of XRP is around $38,665,722,671. Additionally, the trading volume over the past 24 hours has been approximately $3,927,765,114.
KEY LEVELS :
RESISTANCE LEVEL : $0.7600-$0.7900
SUPPORT LEVEL : $0.7250-$0.7000
Will Ripple's resilience translate into sustained upward momentum? Can it meet investor expectations? Is another major win on the horizon for Ripple and the XRP price? Should XRP be purchased below $1? Are XRP bulls ready for an approaching storm? Share your thoughts in the comment box below.
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
