bullish

Daily

<p>Ripple has shown a slight bullish rebound after encountering significant support at the 200-day moving average of $0.55, suggesting a modest increase in market demand.</p>
<p>However, the market is likely to experience short-term consolidation.</p>
<h2 id="xrp-analysis">XRP Analysis</h2>
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Shayan</a></p>
<h3 id="the-daily-chart">The Daily Chart</h3>
<p>A detailed examination of the daily chart reveals that Ripple has seen increased buying activity near the crucial 200-day moving average at $0.55, leading to a minor bullish reversal. This moving average is a critical decision point for Ripple’s price; if it is breached, the overall daily bias will turn decidedly bearish. However, the asset has formed a bullish engulfing candle at this key support level, hinting at a slight resurgence of optimism in the market.</p>
<p>A potential bullish trend reversal might occur if buyers can sustain this momentum. In the short term, though, Ripple will likely enter a sideways consolidation phase as the market seeks further direction. On a broader scale, XRP has formed an expanding wedge pattern. Should a bullish resurgence materialize, the wedge’s upper boundary near $0.65 will become the primary target.<a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-D-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></p>
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3>
<p>On the 4-hour chart, Ripple has been consolidating between the critical $0.54 support zone and the significant resistance around $0.64. The asset has recently touched the lower boundary of this range at $0.54 and has since been consolidating. Ripple has formed a double-bottom bullish reversal pattern, followed by several bullish solid candles.</p>
<p>This price action suggests a potential increase in buying pressure at this crucial level. Additionally, Ripple has developed a slight descending wedge pattern, with the lower boundary aligning with the $0.54 support region. Given these developments, a bullish reversal is anticipated in the coming days, likely driving the price back toward the wedge’s upper boundary around $0.60.<a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="aligncenter size-full wp-image-357712" src="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-scaled.jpg" alt="" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a></p>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-bullish-sentiment-reaffirmed-can-xrp-climb-to-0-64/" rel="noopener noreferrer nofollow">Ripple Price Analysis: Bullish Sentiment Reaffirmed, Can XRP Climb to $0.64?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: Bullish Sentiment Reaffirmed, Can XRP Climb to $0.64?

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