bullish

Daily

<p>After a solid bullish rebound, Ripple’s price surged to the $0.60 level. However, it has since entered a brief consolidation phase, which may pave the way for further upward movement toward the significant $0.64 resistance.</p>
<h1 id="xrp-analysis">XRP Analysis</h1>
<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>
<h2 id="the-daily-chart">The Daily Chart</h2>
<p>A closer look at Ripple’s daily chart reveals that following an increase in demand around the key 100-day ($0.53) and 200-day ($0.55) moving averages, buying activity intensified, leading to a sharp price surge toward the $0.60 mark.</p>
<p>Although Ripple’s upward momentum has temporarily paused, the price has now entered a short-term consolidation at this level. This phase is likely to be followed by a continuation of the bullish trend, with XRP targeting the critical $0.64 resistance level, a zone that has consistently challenged buyers in recent months.</p>
<p>Should sellers regain control of this resistance, XRP’s price could face a reversal, potentially declining back toward the $0.55 support region. On the other hand, if buyers manage to break through the $0.64 resistance, the bullish trend is expected to continue, signaling a shift in market sentiment.</p>
<figure id="attachment_361013" aria-describedby="caption-attachment-361013" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-D-4.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-361013" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<h2 id="the-4-hour-chart">The 4-Hour Chart</h2>
<p>On the 4-hour chart, XRP saw increased buying interest at the 0.5 Fibonacci retracement level ($0.52), which coincides with the lower boundary of a descending flag pattern. This triggered a strong bullish reversal, pushing the price toward the upper boundary of the flag at $0.62, a key resistance level in this formation.</p>
<p>If the cryptocurrency successfully breaks above $0.62, the bullish trend is likely to continue, with the price targeting the $0.64 threshold. However, failure to break through this resistance could lead to a bearish rejection, with the price potentially retracing back to the $0.55 static support area.</p>
<figure id="attachment_361012" aria-describedby="caption-attachment-361012" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-361012" src="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4.jpg" alt="xrp_price_chart_1809242" width="1835" height="872" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4.jpg 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4-300x143.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4-1024x487.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4-768x365.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4-1536x730.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-4-50x24.jpg 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-361012" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-xrp-bulls-eye-0-6-as-positive-sentiment-spreads/" rel="noopener noreferrer nofollow">Ripple Price Analysis: XRP Bulls Eye $0.6 as Positive Sentiment Spreads</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: XRP Bulls Eye $0.6 as Positive Sentiment Spreads

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