bullish

Boost

Read

Billion

<p>Despite last week’s recovery run in the crypto market hitting pause over the weekends, the XRP price jumps for a breakout run. Ending the streak of low high and surpassing a crucial area of supply, XRP’s jump hit the $0.65 mark.&nbsp;</p>   
<p>Will XRP hit $0.81 this week as the breakout momentum builds? Learn more in Coinpedia’s XRP price analysis below.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-wedge-breakout-run-for-xrp-continues-to-struggle">Wedge Breakout Run For XRP Continues To Struggle</h2>   
<p>With a massive jump of 4.39% on Saturday, the XRP price jump breaks above a long-coming resistance trendline. The bullish extension drives XRP higher by 4.37% on Sunday, with a 24-hour high of $0.6650. Currently, the XRP price is trading at $0.6462, with an intraday gain of 0.76%.&nbsp;</p>   
<figure class="wp-block-image">
 <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcWrU0OgDxQfeowklnPla20zbVmFQMPa-KnGNukRSAeXQfTU8T-La51HEyAKHCbCmeOvn5SKhuLzrRsDjHU0K7eMyxcAuD31c0pPG69EOr2I2HcThOenc-14z9QJ1hpm4jLeQ0WUnbfXZoqiGEORpdeGSI?key=E-A89DOYUzf0c8F9snyBEA" alt="XRP Price Chart">
</figure>   
<p><a href="https://www.tradingview.com/x/4XiJFIKP/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>The three-day recovery run forms three consecutive green candles or a triple-white-soldier pattern. Further, the recovery run surpassing the overhead trendline exceeds the 61.80% Fibonacci level at $0.63351. This marks a crucial breakout of the supply zone that has provided four bearish setbacks in the last two months.&nbsp;</p>   
<p>With a successful V-shaped recovery, the bull run in XRP price is gaining momentum.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-xrp-derivatives-boost-up">XRP Derivatives Boost Up</h2>   
<p>With the SEC appeal deadline drawing near, the optimism of XRP holders and the broader market grows. A reflection of the growing bullish speculation is the XRP’s open interest crossing the $1 Billion mark, per <a href="https://www.coinglass.com/currencies/XRP" target="_blank" rel="noreferrer noopener">Coinglass</a>.&nbsp;</p>   
<figure class="wp-block-image">
 <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdYV5Eapgl2eaC06gDdPlBh_Dn4fzPaWdJVfoP13POQDt6uzDhihwLNjuotEOKnCIRoPIz2pDbYtiIjnuJihv9n4usy9bX2gT-dPUYoB95MwS7kMm3J1LwK6ARd-guAqtiigvb8f4TlV3PhxGH572-ZU4g?key=E-A89DOYUzf0c8F9snyBEA" alt="XRP Derivatives">
</figure>   
<p>Furthermore, the confidence in top traders on Binance shoots up. Based on the long/short ratio over the XRP/USDT futures, 1.70 ratios of accounts and 2.20 ratios of positions reflect a bullish phase.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-xrp-price-hit-0-81">Will XRP Price Hit $0.81?</h2>   
<p>The bullish breakout of the 61.80% Fibonacci level increases the bull run chances to the 100% Fib level at $0.81. Further, the bullish trend in the MACD and signal line, along with a positive alignment of the crucial EMAs, supports the uptrend.&nbsp;</p>   
<p>However, a broader market slowdown or an appeal from the SEC could shatter the recently surged optimism in XRP.&nbsp;</p>   
<p>Wondering how far the XRP price could shoot in the long run? Read our <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">Ripple (XRP) Price Prediction</a>.</p>

Coinpedia Fintech News

Table of Contents

CoinPedia News

Other articles published on Sep 30, 2024

LADYS Unveils New Roadmap as it Enhances Community Offerings (30 Sep)

Digital Asset Investment Product Inflows Hit 3-Month High

FTX Token (FTT) Price Explodes 60% Amid Payout Rumors, But What’s Next?

Kaspa Coin vs Bitgert: In-Depth Price Analysis Before Next Month’s Major News

SuperBridge Summit 2024: Catalyzing New Pathways for Trade and Investment Between the Middle East...

Vitalik Buterin Sold, Whales Bought! Whale with 100% Profitability Bought a Large Amount of Ether...

Join our free newsletter for daily crypto updates!