Lokesh Gupta
05-04-2024
#Ripple's XRP experiences significant buying activity after the stablecoin announcement, leading to a price reversal.
$XRP is facing difficulty staying above $0.620; it must maintain support above $0.560 for potential short-term growth.
Yesterday, $XRP witnessed a steady increase from above $0.580, breaking through the $0.600 resistance levels similar to Bitcoin and Ethereum.
However, XRP fails to surpass $0.620, which aligns with the 21-day Moving Average, causing it to retreat and trade near $0.580.
XRP is currently trading within a Symmetric Triangle Pattern on the daily chart, indicating a tug of war between Bulls and Bears.
The question arises whether consolidation will persist or if there will be a breakout following the news.
A close above $0.620 could indicate robust buying pressure, with a target around $0.7500.
Conversely, continued market downturn may push XRP below $0.560, targeting the $0.5000 support zone.
According to Coingabbar's analysis, XRP price prediction 2030 predicts a reach of $10, XRP Price Prediction $500 is expected to reach in 2050.
KEY LEVELS :
RESISTANCE LEVEL : $0.6200-$0.6700
SUPPORT LEVEL : $0.5500-$0.5000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Owned by:-
DCG Tech FZCO, UAE
Delivery Partner:-
Gabbar MediaTech Pvt Ltd.
Copyright © 2025 Coin Gabbar. All Rights Reserved.
