Rally

Bitcoin

XRP price dropped 0.9% in the last 24 hours to trade at $0.474 during European business hours on Wednesday. The drop in price comes as Bitcoin barely recovers the $60,000 support following a sharp decline on Monday. Bitcoin price was trading around $61,956 at press time. 
<h2 id="span-style-font-weight-400-xrp-price-may-hit-0-54-if-this-chart-pattern-completes-forming-span">XRP Price May Hit $0.54 If this Chart Pattern Completes Forming</h2> 
<img decoding="async" class="aligncenter size-full wp-image-204339" src="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-26-at-07.23.36.jpeg" alt="xrp price" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-26-at-07.23.36.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-26-at-07.23.36-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-26-at-07.23.36-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-26-at-07.23.36-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-26-at-07.23.36-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px"> 
The <a href="https://coingape.com/price/xrp">price of XRP</a> broke downwards from a symmetrical triangle on June 7. Zooming out, the chart pattern was part of a non-bullish chart formation. XRP price found support around $0.45 before retesting the lower trendline of the symmetrical triangle and continuing to go lower as per <a rel="nofollow" href="http://CoinGecko.com">CoinGecko</a>. This was a classic textbook breakout and retest trend.&nbsp; 
XRP is trending below the 50-day and 200-day simple moving averages (SMA), with the former providing resistance around the $0.5 level. 
However, the XRP price is at a crucial level currently. Part of the chart formation indicates a double bottom is forming, while the other market structure spells more downside movement for the asset. 
If the price action resolves in a double bottom pattern, XRP may experience a 14% rally which will set it at $0.54. On the flip side, if the price action breaks the current support, it may drop further to $0.42 before bouncing back up. 
XRP monthly chart shows an extremely bullish scenario that results in the asset surging to $700. However, this will greatly hinge on how their lawsuit pans out. 
<a href="https://coingape.com/price/bitcoin">Bitcoin price</a> on the other hand briefly dropped below the key support level of $60,000 in the wee hours of Monday morning, inciting panic across the entire market. Bulls reacted swiftly, pushing the price back above this support zone.&nbsp; 
Nevertheless, the <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/">BTC price</a> is still trending below the 50-day SMA with a relative strength index (RSI) barely above the oversold level.&nbsp; 
The 200-day SMA provides a strong support level around the $60,000 price tag as well, further reinforcing the support structure in that zone. 
<h2 id="span-style-font-weight-400-ripple-sec-settlement-could-arrive-as-early-as-july-span">Ripple-SEC Settlement Could Arrive as Early as July&nbsp;</h2> 
Ripple and the U.S. Securities and Exchanges Commission (S.E.C.) have been directed to revise their motions-to-seal portions of their briefs.&nbsp; 
The parties have until July 8 to submit the updated documents in court. A court decision will follow shortly, setting the stage for what could be a landmark settlement. 
TA analyst MekaMark targets between 100X and 300X with XRP within the next 24 months. Additionally, he expects a $30-$32 XRP sooner unless Ripple loses to the S.E.C. 
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2> 
The XRP price has been suppressed for long enough, pumping only a few cents while other projects skyrocket. The outcome of the upcoming final settlement may trigger extreme price volatility for the asset. 
The post <a href="https://coingape.com/markets/xrp-btc-price-prediction-why-xrp-can-rally-to-700/">XRP/BTC Price Prediction: Can XRP Price Rally to $30</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP/BTC Price Prediction: Can XRP Price Rally to $30

Съдържание

Coingape News Media

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