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>
<p>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" rel="noopener noreferrer nofollow">consolidating</a> within a symmetrical triangle for six years, suggesting that a bullish breakout could occur if XRP surpasses $0.90.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> currently above $0.64!!! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f37f.png" alt="🍿" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Countless analysts recognize this as a key resistance level. <br><br>What happens next?! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f60e.png" alt="😎" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f918-1f3fb.png" alt="🤘🏻" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/EjZmgDnej9" rel="noopener noreferrer nofollow">pic.twitter.com/EjZmgDnej9</a></p>— Moon Lambo (@MoonLamboio) <a href="https://twitter.com/MoonLamboio/status/1818455353693986829?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 31, 2024</a>
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<p><strong>Technical Analysis: Symmetrical Triangle Pattern</strong></p>
<p>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;</p>
<p>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/" rel="noopener noreferrer nofollow">potential breakout</a>. Since 2018, XRP has been confined within this pattern, experiencing highs near $3.3170 and lower highs and higher lows.&nbsp;</p>
<p><img decoding="async" width="602" height="277" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcHBAarTLMevGxKc2xBzJ1j8dscTncrpIF25q9qI0h3FL2jIwvRthNLiheMaVSBp0S5QO9ZqcFoh0hfAPYMTtvZ-eHjSirNqRF1OF3RrTirm-ifssr861xbJo4IJpJNKFnG6AOCg2-yFlxcS7MhidDPOJ8?key=5Ce0lE9v9cYCYVLkpLcalQ"></p>
<p>Source: <a href="https://x.com/ali_charts" rel="noopener noreferrer nofollow">Ali_charts</a> on X</p>
<p>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.</p>
<p>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.</p>
<p><strong>Increasing Large Wallet Holders</strong></p>
<p>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.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f988.png" alt="🦈" class="wp-smiley" style="height: 1em; max-height: 1em;"> The amount of wallets holding at least 10K XRP has skyrocketed in the past 5 weeks. 279.4K such shark &amp; whale addresses exist on the ledger, returning to a 6-month high. The correlation between these wallets and XRP's market value has been undeniable throughout 2024. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44d.png" alt="👍" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/JRT3629sJH" rel="noopener noreferrer nofollow">pic.twitter.com/JRT3629sJH</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1818428356519772624?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
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XRP Surges Above $0.64, Analysts Eye Potential Breakout as XRP Holders Increase Exponentially

Crypto News Land

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