Ethereum

Core

Rally

Bitcoin

<div class="coingape"> 
 <p>The cross-border money remittance token is down a mere 0.3% to $0.6348 on Friday toward the end of the Asian session, with slightly over $1 billion in trading volume and $33.5 billion in market capitalization.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <h2 id="is-xrp-and-crypto-immune-to-cpi">Is XRP and Crypto Immune to CPI</h2> 
 <p>XRP alongside its peers Bitcoin and Ethereum are trading flat a day after the release of the&nbsp;United States Consumer Price Index (CPI) data, which saw a modest increase synonymous with the market watchers’ expectations.</p> 
 <p>According to the report, the CPI numbers for July ticked up 0.2% while the Core CPI which leaves out food and energy rose 0.2%.</p> 
 <p>It is unlikely the Federal Reserve will hike interest rates in September, especially with the year-over-year CPI increasing by 3.2% and 4.7% for the Core CPI.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/08/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/08/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/09/fa6133ad6e87ee1c4776d3849180d46b.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/09/fa6133ad6e87ee1c4776d3849180d46b.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/10/b31cabf387544aafba212df61a9a40a5.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/10/b31cabf387544aafba212df61a9a40a5.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/10/472515f3ab5ae759f4e49d6afa8bc33a.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/10/472515f3ab5ae759f4e49d6afa8bc33a.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/10/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/10/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p>Bitcoin price was down 0.5% to $29,374&nbsp;while Ethereum hovers at $1,844. Analysts and investors can’t seem to wrap their heads around why crypto prices won’t move, with some calling for a market-changing event such as the approval of a&nbsp;spot Bitcoin exchange-traded fund (ETF).</p> 
 <h2 id="xrp-buying-opportunity-next-bullish-impulse">XRP Buying opportunity – Next Bullish Impulse?</h2> 
 <p>Analyst @jaydee_757 said via X (Twitter) that it is possible to see a bullish eruption in the <a rel="noopener noreferrer nofollow" title="XRP price" href="https://thebittimes.com/tag/xrp-price.html">XRP price</a>, especially now that a rebound is underway from support at $0.62.</p> 
 <p>Taking advantage of this knee-jerk reaction could mean a rare buying opportunity ahead of the “next impulse move up.”</p>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>The analyst likened the current XRP market structure to 2017 ahead of the bull run that saw the native token to Ripple’s payment system soar to $3.40.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">#XRP – After crashing to my orange box on the golden pocket w/exact PRECISION even w/all these bullish "news/narratives" 🤦🤦‍♂️, will we head to that red line for next buy opportunity before that next impulse move up? $XRP</p> 
  <p>2017 looks very similar to the current move before 📈 pic.twitter.com/BZzKEnrIdc</p> 
  <p>— JD 🇵🇭 (@jaydee_757) August 11, 2023</p> 
 </blockquote> 
 <p></p> 
 <p>Meanwhile, from the four-hour chart, traders start acclimatizing to the ongoing recovery bolstered by a buy signal from the SuperTrend indicator.</p> 
 <p>After bowing to rising selling pressure that followed the rejection from $0.93 in July, the SuperTrend indicator, which overlays the chart gauging market volatility, has finally flipped bullish.</p> 
 <p>As long as the SuperTrend trails&nbsp;<a rel="noopener noreferrer nofollow" title="XRP price" href="https://thebittimes.com/tag/xrp-price.html">XRP price</a>, the path with the least resistance will remain to the upside and allow bulls to prepare for the battle at $0.65 – a confluence resistance formed by the 50-day Exponential Moving Average (EMA) (red) and the 100-day EMA (blue).</p> 
 <figure id="attachment_156366" aria-describedby="caption-attachment-156366" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-156366" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201148%20613'%3E%3C/svg%3E" alt="XRP price recovers to $0.65 from $0.60" width="1148" height="613" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/11/2d19a5b4cd8262648d7ae0b600583a60.webp"> 
  <noscript> 
   <img decoding="async" class="size-full wp-image-156366" src="https://cdn.thebittimes.com/images/2023/08/11/2d19a5b4cd8262648d7ae0b600583a60.webp" alt="XRP price recovers to $0.65 from $0.60" width="1148" height="613"> 
  </noscript> 
  <figcaption id="caption-attachment-156366" class="wp-caption-text">
    XRP/USD four-hour chart | Tradingview 
  </figcaption> 
 </figure> 
 <p>Another buy signal from the Moving Average Convergence Divergence (MACD) further validates the improving market structure. As the MACD line in blue moves above the signal line in red, demand for XRP is bound to increase,&nbsp;subsequently building enough momentum to rally.</p> 
 <p>A sustained uptrend above $0.65 and consequently the descending trendline would mark the beginning of a $1-bound rally to $0.85 and $1.</p> 
 <h3 id="related-articles">Related Articles</h3> 
 <ul> 
  <li>Breaking: Gemini Relists XRP Token, Opens Support For XRP Ledger (XRPL)</li> 
  <li>Bloomberg Analyst: US SEC Could Prepone Ark Bitcoin ETF Deadline</li> 
  <li>Breaking: Argentina Opens Investigation into Sam Altman’s Worldcoin</li> 
 </ul> 
</div>

XRP Price On The Cusp of Initiating Another $1-Bound Rally

Table of Contents

TheBitTimes

Other articles published on Aug 11, 2023

Will Hershey Stock (NYSE: HSY) Rebound From Trendline at $220?

Libbitcoin vulnerability leads to $900k theft from Bitcoin wallets

Coinbase’s Layer-2 Blockchain Records 136,000 DAU Post Public Debut

BNB Is Bound To A Range Due To Uncertainty Of Buyers And Sellers

Ripple Vs SEC Update : Uphold’s CEO Praises Judge Torres’ Brilliance and Highlights SEC’s Appeal ...

Popular Memecoin Separated Positively from the Market and Gained Its Investors!

Join our free newsletter for daily crypto updates!