Strong

Resistance

Read

Reversal

<ul>
 <li>XRP’s strong support at $0.40 has been tested repeatedly, providing a solid foundation for potential future price growth.</li>
 <li>Breaking the $0.90 resistance could trigger a bullish trend, with projections suggesting XRP might reach up to $20 long term.</li>
 <li>Despite a 24.68% drop in 2024, major investors’ confidence in XRP remains strong, indicating ongoing accumulation.</li>
</ul>
<p>XRP has <a href="https://cryptonewsland.com/xrp-poised-for-explosive-growth/" rel="noopener noreferrer nofollow">shown resilience</a> despite recent market volatility. Currently priced at $0.4318, XRP has a strong support level at $0.40. This level has been repeatedly tested over the past year, providing a solid foundation for potential future growth. Analysts suggest that with increasing trading volume and a double bottom pattern, XRP may be poised for a significant price increase.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> showing strong support at $0.40. With increasing volume and a double bottom pattern, it's certain to reach $0.90. Next target: $2.00, then on to $20. <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://t.co/8SQ40rjlHF" rel="noopener noreferrer nofollow">pic.twitter.com/8SQ40rjlHF</a></p>— Armando Pantoja (@_TallGuyTycoon) <a href="https://twitter.com/_TallGuyTycoon/status/1811075491580739947?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h4 class="wp-block-heading" id="h-current-price-and-support-level"><strong>Current Price and Support Level</strong></h4>
<p>At press time, XRP was trading at <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">$0.4423</a>, slightly above its strong support level of $0.40. This support level, marked by multiple tests over the past year, serves as a critical foundation for the cryptocurrency. The yellow horizontal line on the price chart indicates this level, highlighting its importance in the market’s perception of XRP’s stability.</p>
<p><img decoding="async" width="602" height="327" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdDNuU-2ptKU4UBmu8ohmDM1qxQJ5ht1ZXXlEpv4JHVjnblkfXEKJHIqVZ-35h5CetWmuDZD_v3v33r2TjwggGdGZ-v0t15FESRNuT19NqvbW8GP34hgd_xDkUZ9ya5lBLPvsfkBJnkbhN8nK1pRY22i_XZ?key=BFI49bJXloURkbKt6MuqXg"></p>
<p>Source: <a href="https://x.com/_TallGuyTycoon" rel="noopener noreferrer nofollow">Armando Pantoja on X</a></p>
<h4 class="wp-block-heading" id="h-resistance-and-future-projections"><strong>Resistance and Future Projections</strong></h4>
<p>A key resistance level for XRP is noted at $0.90, marked by a green line on the chart. If XRP breaks above this resistance, analysts project a bullish trend. The speculative future price movement is depicted as a green ascending line, suggesting that XRP could reach $0.90 and potentially continue to $2.00 and beyond, possibly even hitting $20 in the long term.</p>
<p>The <a href="https://www.coingecko.com/en/coins/xrp" rel="noopener noreferrer nofollow">trading volume</a> for XRP has seen spikes corresponding to major price movements. These spikes indicate increased interest and activity among traders, which can influence the cryptocurrency’s price. The historical data from May 2023 to July 2024 shows a general downtrend or consolidation phase, but the analysis suggests a potential bullish reversal in the near future.</p>
<h4 class="wp-block-heading" id="h-recent-performance-and-market-comparison"><strong>Recent Performance and Market Comparison</strong></h4>
<p>Since the beginning of 2024, XRP’s performance has been slow. In January, it traded above $0.60 but <a href="https://cryptonewsland.com/xrp-dips-to-under-0-40/" rel="noopener noreferrer nofollow">quickly dropped </a>below the psychological thresholds of $0.60 and $0.50.&nbsp;</p>
<p>Currently, XRP is down by 24.68% since the start of the year. This decline contrasts sharply with other major cryptocurrencies like Bitcoin, which has risen by 41% in 2024, and Ether, which has increased by 43.6%.</p>
<p>Despite these declines, confidence among major investors in XRP remains strong. The number of addresses holding large amounts of XRP continues to grow, indicating ongoing accumulation and belief in the cryptocurrency’s long-term potential.</p>
<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/xrp-holds-firm-at-0-50-potential-reversal-ahead/" rel="noopener noreferrer nofollow">XRP Holds Firm at $0.50: Potential Reversal Ahead?</a></li>
 <li><a href="https://cryptonewsland.com/xrp-at-crucial-crossroads-will-0-48-support-spark-bullish-reversal/" rel="noopener noreferrer nofollow">XRP at Crucial Crossroads: Will $0.48 Support Spark Bullish Reversal?</a></li>
 <li><a href="https://cryptonewsland.com/cardano-defending-key-support-levels-signals-potential-reversal/" rel="noopener noreferrer nofollow">Cardano: Defending Key Support Levels Signals Potential Reversal</a></li>
 <li><a href="https://cryptonewsland.com/xrps-crucial-battle-breaking-0-55-resistance-for-reversal/" rel="noopener noreferrer nofollow">XRP’s Crucial Battle: Breaking $0.55 Resistance for Reversal</a></li>
 <li><a href="https://cryptonewsland.com/xrps-decisive-moment-breaking-0-75-barrier-for-bullish-reversal/" rel="noopener noreferrer nofollow">XRP’s Decisive Moment: Breaking $0.75 Barrier for Bullish Reversal</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/xrps-resilience-strong-support-and-potential/" rel="noopener noreferrer nofollow">XRP’s Resilience: Strong Support and Potential Bullish Reversal Amid Market Volatility</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

XRP’s Resilience: Strong Support and Potential Bullish Reversal Amid Market Volatility

Crypto News Land

Andre artikler udgivet 11. jul. 2024

CFTC Chair Calls for Greater Oversight of Bitcoin and Ether

Top-Invested Crypto Projects for July 2024

Spot Bitcoin ETFs Gain $650M Inflows Despite Germany’s $850M BTC Sale

German Government Sells Bitcoin to Exchanges

The Memecoin Mania Will Start a New Crazy Surge in Days? Top Memecoins that Can Make 20-50X

If you followed the calls, you could have been a millionaire now.

Join our free newsletter for daily crypto updates!