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<p>The post <a href="https://coinpedia.org/price-analysis/breakout-alert-xrp-set-to-skyrocket-eyes-0-75-level/" rel="noopener noreferrer nofollow">Breakout Alert! XRP Set to Skyrocket, Eyes $0.75 Level</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Ripple’s native token XRP has formed a bullish inverted head-and-should price action pattern. This bullish outlook for XRP is gaining significant attention from the crypto community. However, this perspective emerged after a month of continuous struggles and the recent victory against the United States Security and Exchange Commission (SEC).&nbsp;</p>
<h2 class="wp-block-heading" id="h-xrp-price-prediction-nbsp"><strong>XRP Price Prediction&nbsp;</strong></h2>
<p>According to expert technical analysis, <a href="https://coinpedia.org/news/wealth-advisor-reveals-why-ripples-odl-could-influence-xrp-prices/" rel="noopener noreferrer nofollow">XRP</a> looks bullish as it is trading above the 200 Exponential Moving Average (EMA) on a daily time frame. The asset’s price above the 200 EMA hints that it is in an uptrend.&nbsp;</p>
<p>In addition to XRP’s uptrend, it has also formed an inverted head-and-shoulder price action pattern. Based on historical price momentum, if XRP gives a breakout of this price action pattern and closes a daily candle above the $0.65 level, there is a high possibility it could surge by 15% to reach the strong resistance level of $0.75.</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51-1024x448.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="448" src="https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51-1024x448.png" alt="" class="wp-image-342481" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51-1024x448.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51-1536x672.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/24221257/XRPUSDT_2024-08-24_20-29-51.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
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  Source: Trading View
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<p>The $0.75 level will act as a strong resistance level, as XRP has reached this level three times since 2023, each time facing significant selling pressure. However, a significant rally could follow if XRP manages to break through this level.&nbsp;</p>
<h2 class="wp-block-heading" id="h-xrp-s-rising-open-interest"><strong>XRP’s Rising Open Interest</strong></h2>
<p>Following this bullish price action pattern, XRP’s <a href="https://www.coinglass.com/BitcoinOpenInterest" target="_blank" rel="noopener noreferrer nofollow">open interest </a>has skyrocketed by 12%, and it has been gradually increasing, according to the on-chain analytic firm CoinGlass. This indicates a growing interest from investors and traders as XRP approaches the breakout level.</p>
<p>At press time, it is trading near $0.63 and has experienced a price surge of over 5% in the last 24 hours. Meanwhile, its trading volume increased by 30% during the same period, indicating higher participation from traders.</p>
<h2 class="wp-block-heading" id="h-major-liquidation-levels-in-xrp"><strong>Major Liquidation Levels in XRP</strong></h2>
<p>As of now, the major liquidation levels are near $0.596 on the lower side and $0.651 on the upper side, as traders have over-leveraged in the last 24 hours, according to CoinGlass data.&nbsp;</p>
<p>If the market sentiment remains the same and the price rises to $0.651, nearly $11.81 million worth of short positions will be liquidated. Conversely, if the sentiment shifts and the price falls to the $0.596 level, nearly $22.90 million worth of long positions will be liquidated.&nbsp;</p>
<p>This shows bulls are back in the action and there is a high possibility that XRP could experience a breakout and reach the $0.75 level.</p>

Breakout Alert! XRP Set to Skyrocket, Eyes $0.75 Level

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