bullish

Moon

<ul>
  
 <li>XRP's symmetrical triangle pattern hints at a bullish breakout if it surpasses $0.90, says analyst Ali Martinez.</li>   
 <li>Large wallet holders of XRP surged to a six-month high of 279.4K, correlating with its 2024 price rise.</li>   
 <li>XRP's current price nears the 0.5 Fibonacci level at $0.6048, a key support/resistance point for future movements.</li> 
</ul>   
XRP has gone above $0.64, hence getting interest among analysts who recognize this as a critical resistance level. Crypto analyst Ali Martinez noted that XRP has been <a href="https://x.com/ali_charts/status/1818339028808167777">consolidating</a> within a symmetrical triangle for six years, suggesting that a bullish breakout could occur if XRP surpasses $0.90.   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/MoonLamboio/status/1818455353693986829 
 </div>
</figure>   
Technical Analysis: Symmetrical Triangle Pattern   
A recent price chart shows XRP trading at $0.6288, marking a 4.50% increase from the previous period. The chart highlights Fibonacci retracement levels, which indicate potential support and resistance points.&nbsp;   
The symmetrical triangle pattern on the chart suggests a period of consolidation, hinting at a <a href="https://cryptonewsland.com/xrp-breakout-imminent-price-analysis-hints/">potential breakout</a>. Since 2018, XRP has been confined within this pattern, experiencing highs near $3.3170 and lower highs and higher lows.&nbsp;   
<img width="602" height="277" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcHBAarTLMevGxKc2xBzJ1j8dscTncrpIF25q9qI0h3FL2jIwvRthNLiheMaVSBp0S5QO9ZqcFoh0hfAPYMTtvZ-eHjSirNqRF1OF3RrTirm-ifssr861xbJo4IJpJNKFnG6AOCg2-yFlxcS7MhidDPOJ8?key=5Ce0lE9v9cYCYVLkpLcalQ">   
Source: <a href="https://x.com/ali_charts">Ali_charts</a> on X   
This prolonged consolidation within the symmetrical triangle indicates that a decisive price movement could be on the horizon, potentially signaling a change in XRP's market dynamics.   
The current price of $0.6288 is close to the 0.5 Fibonacci level ($0.6048), indicating it may act as a support or resistance. Analysts are watching this level closely as it could influence the next price movement.   
Increasing Large Wallet Holders   
According to Santimentfeed, the number of wallets holding at least 10,000 XRP has surged over the past five weeks, reaching a six-month high of 279.4K. This increase in large holders, often referred to as sharks and whales, correlates with XRP's price rise in 2024.   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/santimentfeed/status/1818428356519772624 
 </div>
</figure>   
From January 29, 2024, to July 30, 2024, the number of large wallets grew significantly, indicating increased interest and accumulation by large entities. During this period, 2,389 accounts entered the category of holding more than 10,000 XRP units.   
Long-Term Price Trends   
The chart reveals XRP's long-term price trends, showing a substantial spike in 2018, followed by a prolonged downtrend and a recent recovery. The price action within the symmetrical triangle pattern suggests <a href="https://cryptonewsland.com/xrp-and-icp-now-live-on-cme/">potential for a breakout</a> as XRP nears the apex of the triangle.   
Future Outlook   
The increase in large wallet holders and the symmetrical triangle pattern indicate a potential <a href="https://cryptonewsland.com/xrp-surges-analysts-predict-150-rally/">bullish breakout for XRP</a>. Analysts are keenly watching the $0.90 level as a key point for a possible upward movement. If XRP surpasses this resistance, it could shift in the cryptocurrency's price trend.   
XRP's recent price movement and the growing number of large holders suggest a potential bullish breakout.&nbsp;   
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>   
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
  
 <li><a href="https://cryptonewsland.com/dogecoin-consolidation-symmetrical-triangle-signals-potential-reversal/">Dogecoin Consolidation: Symmetrical Triangle Signals Potential Reversal</a></li>   
 <li><a href="https://cryptonewsland.com/xrp-poised-for-massive-rally-symmetrical-triangle-breakout-imminent/">XRP Poised for Massive Rally: Symmetrical Triangle Breakout Imminent</a></li>   
 <li><a href="https://cryptonewsland.com/polygon-primed-for-a-major-rally-after-triangle-breakout/">Polygon Primed for a Major Rally After Triangle Breakout</a></li>   
 <li><a href="https://cryptonewsland.com/cardano-impending-breakout-signals-high-stakes-for-investors/">Cardano: Impending Breakout Signals High Stakes for Investors!</a></li>   
 <li><a href="https://cryptonewsland.com/xrps-next-move-analysts-eye-major-breakout-amidst-consolidation/">XRP's Next Move: Analysts Eye Major Breakout Amidst Consolidation</a></li> 
</ul> 
The post <a href="https://cryptonewsland.com/xrp-surges-above-0-64-analysts-eye/">XRP Surges Above $0.64, Analysts Eye Potential Breakout as XRP Holders Increase Exponentially</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

XRP Surges Above $0.64, Analysts Eye Potential Breakout as XRP Holders Increase Exponentially

Crypto News Land

Další články publikované 31. 7. 2024

USDC Trading Volume Hits $135B in July: CCData Report

Trump Raises $25M at Bitcoin Conference 2024 in Nashville

Why Blockchain? Content without C2PA labelling

WIF Price Indicates Possible Rise

Wisconsin unveils tracker to fight crypto fraud and investment scams

Fast, Secure, and Effortless Cross-Chain Crypto Swaps | XcelPay Wallet

Join our free newsletter for daily crypto updates!