<div class="finbold">
 <p class="paragraph">The XRP community continues to await a possible price breakout, potentially reclaiming the $1 mark after years of extended consolidation. This comes as the token’s parent company, Ripple, remains embroiled in a legal battle with the Securities and Exchange Commission (SEC).</p>
 <p class="paragraph">However, crypto analyst <em>Egrag Crypto</em> believes historical <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> movements suggest that XRP might be on the verge of <a rel="noopener noreferrer nofollow" title="explosive" href="https://thebittimes.com/tag/explosive.html">explosive</a> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="action" href="https://thebittimes.com/tag/action.html">action</a>, potentially driving the value above $1.</p>
 <p class="paragraph">In an X (formerly Twitter) post on April 20, the analysis suggested that XRP’s dominance rests on a historical support line around the $0.50 zone, drawing parallels to patterns observed in 2017 and 2021.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="447" src="https://cdn.thebittimes.com/images/2024/04/21/d22cd14ce7505b02debe4ed41028eec9.webp" alt class="wp-image-170566" srcset="https://cdn.thebittimes.com/images/2024/04/21/d22cd14ce7505b02debe4ed41028eec9.webp 1024w, https://cdn.thebittimes.com/images/2024/04/21/d22cd14ce7505b02debe4ed41028eec9.webp 300w, https://cdn.thebittimes.com/images/2024/04/21/d22cd14ce7505b02debe4ed41028eec9.webp 768w, https://cdn.thebittimes.com/images/2024/04/21/d22cd14ce7505b02debe4ed41028eec9.webp 1536w, https://cdn.thebittimes.com/images/2024/04/21/d22cd14ce7505b02debe4ed41028eec9.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>XRP price analysis chart. Source: TradingView/Egrag Crypto</em>
  </figcaption>
 </figure>
 <p class="paragraph">According to the expert, the support line could provide the basis for XRP to break out, noting that the token has built a reputation for recording rapid and powerful price surges from such positions.</p>
 <h2 class="wp-block-heading" id="h-xrp-s-areas-to-watch-nbsp">XRP’s areas to watch&nbsp;</h2>
 <p class="paragraph">If this scenario unfolds, the analyst identified potential targets for XRP’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> movement, pinpointing Fibonacci levels between $1.2 and $1.6 as critical areas of interest. These levels serve as crucial indicators for traders and investors, signaling potential <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> targets and resistance levels.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Historically, XRP has exhibited rapid and powerful pumps. Could we witness a similar move soon? Potential targets begin at Fib levels 1.272, 1.414, and 1.618,” the analyst said.&nbsp;</p>
 </blockquote>
 <p class="paragraph">For XRP to realize the projected valuation, the token must sustain its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> above the psychological $0.50 level, which currently serves as a critical support point. This level could also help the token breakout of <a rel="noopener noreferrer nofollow" title="consolidation" href="https://thebittimes.com/tag/consolidation.html">consolidation</a> above the $0.70 mark.</p>
 <p class="paragraph">Meanwhile, the SEC case weighs on determining XRP’s next move. The case is approaching a potential conclusion, with the SEC urging a New York judge to impose a hefty, nearly $2 billion fine against Ripple Labs.</p>
 <p class="paragraph">Beyond the case, XRP could also find support from Ripple Labs’ potential stablecoin launch. It’s worth noting that Ripple intends to unveil its stablecoin, which entails a 1:1 peg with the US dollar and is backed 100% by US dollar deposits, short-term government treasuries, and other cash equivalents.</p>
 <h2 class="wp-block-heading" id="h-xrp-price-analysis">XRP price analysis</h2>
 <p class="paragraph">By press time, XRP was trading at $0.52218, ranking among the biggest gainers in the crypto market in the last 24 hours with a rise of 4%. However, on the weekly chart, XRP is down 1.6%.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/04/21/db150b662ad444501651e18779cad6fa.webp" alt class="wp-image-170567" srcset="https://cdn.thebittimes.com/images/2024/04/21/db150b662ad444501651e18779cad6fa.webp 675w, https://cdn.thebittimes.com/images/2024/04/21/db150b662ad444501651e18779cad6fa.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>XRP seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Overall, the short-term price movement could indicate that XRP’s movement suggests a successful bullish breakout, likely to transition into a sustained rally. However, sustainability largely depends on how the general market moves.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/buy-signal-xrp-set-for-explosive-price-action-after-consolidation-tbt85900.html">https://thebittimes.com/buy-signal-xrp-set-for-explosive-price-action-after-consolidation-tbt85900.html</a></p>

Buy signal? XRP set for explosive price action after consolidation

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