The post <a href="https://coinpedia.org/price-analysis/xrp-price-prediction-ema-breakout-hints-massive-bull-run-to-1/" rel="noopener noreferrer nofollow">XRP Price Prediction: EMA Breakout Hints Massive Bull Run To $1</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a declining trend at play, the XRP price action reveals a bearish pattern in the making. Further, the market crash put the Ripple token under the $0.50 psychological mark.&nbsp;
However, with the recent XRP price recovery along with the increasing chances of market recovery, the altcoin is ready for a bull run. Will the bullish trend reach $1? For a longer-term prediction, check out our <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">XRP price prediction</a>.
<h2 class="wp-block-heading" id="h-a-bullish-outcome-for-falling-wedge-pattern">A Bullish Outcome For Falling Wedge Pattern?</h2>
Reversing from the $0.7221 mark, the declining trend in the XRP price action reveals a falling wedge pattern in the daily chart. Further, the downfall fuels the death cross in the 50D and 200D EMA.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeW5V2Gz6LO8GQfqlbxGNN5rmc81gl20E1ZujJqI5OAEIInQIZ3kXRrwR1qW47JGo8_WNSHxazzJCsn7hceoziKXsrAUuLpoAnCkPjEpUAIiCns2QeD1NvPZ_pHEcW3DYiwdbsEetv6I7TWd_rkxd3Mzf1o?key=E-A89DOYUzf0c8F9snyBEA" alt="">
</figure>
<a href="https://www.tradingview.com/x/TNAQTFK8/" rel="noopener noreferrer nofollow">Tradingview</a>
Dropping below $0.50, the altcoin finds support at a declining trendline near the $0.4183 mark. With a new recovery rally, the altcoin is up by 10% in five days and challenges the overhead trendline.&nbsp;
Currently, the XRP price trades at $0.4672, with an intraday rise of 4.07%, creating the fifth consecutive bullish candle. The altcoin shows massive upside potential by using a wedge breakout with a rounding bottom reversal.
Technical Indicator:
EMA: With a bullish comeback, the XRP token challenges the 50D EMA, as the average line declines after the deathcross.&nbsp;
RSI: The daily RSI line shows a quick reversal from the oversold boundary, reflecting a massive surge in demand for the XRP token.&nbsp;
<h2 class="wp-block-heading" id="h-will-xrp-price-reach-the-1-milestone">Will XRP Price Reach The $1 Milestone?</h2>
As the bullish reversal in the XRP price gains momentum, the sideline traders are anticipating a breakout rally. With the wedge breakout, the altcoin could challenge the 200D EMA at $0.53.
Further, as per the wedge pattern, the Ripple token price could hit the peak of $0.72. Considering that altcoin finds the support of the broader crypto market recovery, the uptrend in XRP could hit the $1 psychological mark.&nbsp;

XRP Price Prediction: EMA Breakout Hints Massive Bull Run To $1

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Další články publikované 12. 7. 2024

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