Convergence

altFINS

Resistance

Divergence

<p><strong>The $XRP coin has been under the spotlight. After a period of consolidation, many believe that the coin is poised for a significant move. The anticipation is palpable, with some members of the community suggesting that a massive event is on the horizon.</strong></p> 
<p>In today’s cryptocurrency market analysis, we turn our attention to the XRP price, courtesy of insights from the <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true">altFINS</a></strong> platform. The current trade setup reveals a clear uptrend for XRP, a trend that has been solidified by a breakout from a Descending Triangle. This breakout led to a significant price surge, propelling XRP to the $0.92 resistance level, a high not seen since early 2022. This surge was largely driven by a favorable legal ruling.</p> 
<p>However, it’s crucial to note that the market became overbought, with the Relative Strength Index (RSI) exceeding 80. This led to some selling pressures<strong> as traders took profits, causing the price to consolidate into a Bullish Pennant pattern. </strong>altFINS’ technical indicators show that the profit-taking phase is now over. </p> 
<p>This pattern is typically indicative of a potential bullish breakout, suggesting a resumption of the uptrend. Market watchers are keenly awaiting this breakout, which could<strong> see the price revisit the $0.92 mark and this is the next big target for XRP. </strong>In the event of a pullback, the Fibonacci Retracement support levels to watch are $0.70 (50%) and $0.56 (78%). Traders are advised to set a price alert for these levels.</p> 
<figure class="wp-block-image size-large"> <a href="https://captainaltcoin.com/go/altfins/" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" loading="lazy" width="1024" height="552" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-1024x552.png" alt="" class="wp-image-304099" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-1024x552.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-300x162.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-768x414.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-1536x828.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-2048x1105.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-278x150.png 278w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-649x350.png 649w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112-788x424.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-112.png 1437w" sizes="(max-width: 1024px) 100vw, 1024px"></a> 
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<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true">altFINS</a></strong></em></p> 
<p>The Bullish Pennant pattern is a significant one to watch. It typically forms following a sharp advance and is characterized by a brief triangular-shaped consolidation in price. This slight change in direction is usually followed by a resumption of the previous uptrend. It’s important to note that the period of consolidation should have a lower volume, and the breakouts should occur on a higher volume.</p> 
<p>In terms of trend analysis, XRP is in an uptrend across all time horizons, be it short, medium, or long-term. However, the momentum is somewhat mixed. The Moving Average Convergence Divergence (MACD) line is currently below the MACD Signal Line, which is a bearish signal. On the other hand, the RSI is hovering around 50, indicating a neutral market.</p> 
<p>In terms of support and resistance levels, the nearest Support Zone for XRP is at $0.68, followed by $0.55. On the flip side, the nearest Resistance Zone is at $0.92. These are the critical levels that traders should keep an eye on in the coming days.</p> 
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<p>A recent example of this volatility is the price action of $XRP. After winning a lawsuit against the Securities and Exchange Commission (SEC), the coin surged by almost 100%. However, it subsequently experienced a significant price pullback, something that <strong><a href="https://captainaltcoin.com/kaspa-kas-impending-pullback-time-for-cooling-off-heres-the-communitys-outlook/" target="_blank" rel="noopener noreferrer nofollow">might happen to the $KAS coin</a></strong> as well. This rapid change in price underscores the importance of being prepared for both bullish and bearish scenarios in the crypto market.</p> 
<p>At the time of writing, XRP is trading at $0.664740, marking a 4% decrease in the last 24 hours. Over the past week, the token has seen a 7.3% decline and a more significant 18.3% drop in the last 14 days. Despite these short-term dips, the token has shown a 36% increase over the past 30 days and a substantial 77.6% rise over the past year.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/ripple-xrp-faces-pullback-and-volatility-community-divided-on-hold-or-sell/">Ripple (XRP): Profit-Taking Phase is Over, Here’s the Next Price Target</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Ripple (XRP): Profit-Taking Phase is Over, Here’s the Next Price Target

CaptainAltcoin

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