As <a href="https://finbold.com/guide/how-to-buy-ripple-xrp/" rel="noopener noreferrer nofollow">Ripple</a> awaits the judge’s verdict on its ongoing <a href="https://finbold.com/ripple-v-sec-case-update-as-of-july-3-2023/" rel="noopener noreferrer nofollow">legal dispute</a> against the US Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>), the battle of <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP</a><a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bulls</a> and <a href="https://finbold.com/guide/bear-market-definition/" rel="noopener noreferrer nofollow">bears</a> continues around the critical $0.50 price level.Seeking further insights, popular <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a> analyst CoinsKid <a href="https://twitter.com/Coins_Kid/status/1676885352101949441" rel="noopener noreferrer nofollow">conducted</a> a <a href="https://finbold.com/guide/technical-analysis/" rel="noopener noreferrer nofollow">technical analysis</a> of XRP’s price on Thursday, July 6.What may come as a surprise to some, the expert believes <a href="https://finbold.com/topic/xrp/" rel="noopener noreferrer nofollow">XRP</a> could witness a major breakout to $0.69 ‘at a minimal,’ assuming the crypto token can break through a descending trend line that connects its previous highs in late March and June.<blockquote> – CoinsKid wrote in a tweet.“I think if we see XRP take out that white line on the daily, it runs to 0.69 at a minimal.”
</blockquote><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/33130f28745d4f2a94d85c9e250a45f0.jpg">Descending trend line on XRP daily chart. Source: CoinsKid<h2 id="header-0">XRP price analysis</h2>At press time, XRP was changing hands at $0.47, down 2.2% in the past 24 hours.The crypto token lost nearly 10% in the last month from $0.51 amid growing uncertainty over Ripple’s lawsuit against the SEC.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c0ced1361401475aa95b6b3bb6d46277.jpg">XRP 1-month price chart. Source: FinboldHowever, year-to-date, the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency’s</a> price remains up over 37%.<h2 id="header-1">Important XRP resistance levels</h2>The <a href="https://finbold.com/xrp-defies-sec-headwinds-emerging-as-q2s-third-most-traded-crypto/" rel="noopener noreferrer nofollow">third-most traded</a> cryptocurrency in Q2 2023 has been trading sideways for the most part recently, hovering around the 100-day <a href="https://finbold.com/guide/moving-average/#:~:text=Moving%20average%20definition,%2Dto%2Dday%20price%20fluctuations." rel="noopener noreferrer nofollow">moving average</a> (DMA). After failing to break above the $0.55 <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">resistance</a> several times, the crypto token is attempting to clear the $0.50 barrier and have another run at this important technical level.However, the bulls will have to break through the 200-weekly moving average first before clearing $0.55 and $0.60, where the 100-weekly moving average is located.Earlier this week, crypto trading expert Michaël van de Poppe also <a href="https://finbold.com/xrp-sweeps-higher-and-raises-the-stakes-is-0-53-in-the-cards/" rel="noopener noreferrer nofollow">offered</a> his thoughts on XRP, saying the crypto asset needs further confirmation before starting to target the $0.53 price level.He added that XRP is currently not displaying a clear structure, though he believes the odds are still in its favor.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source=CMC&amp;utm_medium=social&amp;utm_campaign=CMC&amp;utm_content=long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Buckle up: Major XRP breakout to $0.69 ‘at a minimal’ in play

Table of Contents

Finbold

Other articles published on Jul 7, 2023

OCTOPUS 2.0 PROMISES TO BREAK BARRIERS BETWEEN BLOCKCHAINS

monthly achievement

Japan’s Largest Banks to Bring Japanese Stablecoins to Cosmos

Santiment Analysis: Binance Coin (BNB) Steals the Spotlight Amidst Bitcoin’s Dominance Surge

Solana (SOL) Bulls Regain Control with 30% Recovery: Is a Major Breakout Imminent?

Former Kraken CEO Jesse Powell’s Home Raided by FBI in High-Stakes Investigation

Join our free newsletter for daily crypto updates!