Bitcoin

<div class="finbold">
 <p class="paragraph">Over the past week, XRP has predominantly traded in the green zone, maintaining a steady position above the $0.50 support level.&nbsp;</p>
 <p class="paragraph">With persistent questions in the crypto market regarding XRP’s ability to break out of the extended consolidation phase observed for several months, a crypto analyst has suggested that the token might be on the brink of a significant move.</p>
 <p class="paragraph">Specifically, the analyst, <em>Egrag Crypto</em>, in an X (formerly Twitter) post on April 23, highlighted the double bottom formation observed in XRP’s chart as signaling robust bullish momentum, instilling confidence in an imminent upward surge.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Venezuela to boost cryptocurrency use amid U.S. sanctions <span class="self-center text-xs text-slate-500">35 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Opportunity? Crypto expert reveals massive Bitcoin buy price <a rel="noopener noreferrer nofollow" title="point" href="https://thebittimes.com/tag/point.html">point</a> <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin miners underwater as production costs surge post-halving <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Where do billionaires keep their money during market turbulence? <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Furthermore, the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> identified the consolidation zone as a supply zone and the wicking range, with these adjustments indicating a favorable setup for XRP’s price to initiate a notable upward movement.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="297" src="https://cdn.thebittimes.com/images/2024/04/23/d544a1136d484c9d4225342bb2ce7c55.webp" alt class="wp-image-171095" srcset="https://cdn.thebittimes.com/images/2024/04/23/d544a1136d484c9d4225342bb2ce7c55.webp 680w, https://cdn.thebittimes.com/images/2024/04/23/d544a1136d484c9d4225342bb2ce7c55.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>XRP price analysis. Source: TradingView/Egrag Crypto</em>
  </figcaption>
 </figure>
 <p class="paragraph">Building on the potential bullish momentum, the market expert suggested that XRP could <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> to around $1.4, representing a 180% gain from current prices.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“XRP color code to&nbsp; $1.4. The double bottom formation is giving us a strong bullish signal, and I’m highly confident that the thrust will soon begin,” the analyst said.&nbsp;</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-xrp-on-bullish-momentum-nbsp">XRP on bullish momentum&nbsp;</h2>
 <p class="paragraph">Indeed, such a surge could reignite investor interest in XRP, which has gene<a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> failed to <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> alongside the broader market. Currently, the token appears to be deriving momentum from ongoing developments involving Ripple and the Securities and Exchange Commission (SEC).</p>
 <p class="paragraph">Notably, there has been anticipation regarding Ripple’s response to the regulator’s request for a $2 billion fine against the company. In its filing, Ripple addressed the SEC’s request for penalties and remedies, disputing most of the regulator’s claims and urging the judge to impose a penalty of no more than $10 million.</p>
 <p class="paragraph">Ripple contends that the SEC lacks allegations or findings of recklessness or fraud regarding the sale of XRP tokens. The company demanded evidence from the SEC to establish the likelihood of future violations and highlighted changes made to XRP sales and contracts to prevent such violations.&nbsp;</p>
 <p class="paragraph">Additionally, Ripple defends itself against claims regarding on-demand liquidity buyers, asserting that the SEC has not demonstrated any financial losses suffered by institutional buyers due to Ripple’s unregistered status.</p>
 <h2 class="wp-block-heading" id="h-xrp-millionaires-surging-nbsp">XRP millionaires surging&nbsp;</h2>
 <p class="paragraph">In the meantime, the bullish momentum surrounding XRP is evident in other on-chain metrics. Data from crypto <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> platform <em>Santiment</em> indicates that, as of April 2023, the number of wallets holding at least one million XRP stands at 2,013, just shy of the previous peak recorded in June 2023 and on the verge of an all-time high by just one wallet.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="464" src="https://cdn.thebittimes.com/images/2024/04/23/672a6bcf902f7aa3ed44cae7f492552c.webp" alt class="wp-image-171096" srcset="https://cdn.thebittimes.com/images/2024/04/23/672a6bcf902f7aa3ed44cae7f492552c.webp 680w, https://cdn.thebittimes.com/images/2024/04/23/672a6bcf902f7aa3ed44cae7f492552c.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>XRP millionaire addresses. Source: Santiment</em>
  </figcaption>
 </figure>
 <p class="paragraph">At the time of writing, XRP was trading at $0.547, having rallied 1.7% in the last 24 hours. On a weekly timeframe, the token has seen an increase of almost 12%.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-set-for-ignition-as-this-indicator-points-to-180-rally-tbt86239.html">https://thebittimes.com/xrp-set-for-ignition-as-this-indicator-points-to-180-rally-tbt86239.html</a></p>

XRP set for ignition as this indicator points to 180% rally

Tabla de contenidos

TheBitTimes

Otros artículos publicados el 23 abr 2024

XRP Price Prediction Leading up to Bitcoin Halving: Is a Price of $1 Possible Again?

12 Solana Presale Memecoins Abandoned After Just a Month

Zenless Zone Zero: Gears Up for Potential PS5 Day-One Launch

Short alert: Dogecoin could drop below $0.05

Millions in Crypto Stuck in Bridge Contracts, Arkham Finds

PLAY Wallet update

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!