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Shiba Inu

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 <h2 id="xrp-price-eyes-bullish-breakout-as-sec-ripple-hype-fades">XRP Price Eyes Bullish Breakout As SEC-Ripple Hype Fades</h2> 
 <p>Many investors anticipated a massive breakout following the partial ruling in the Ripple vs. SEC lawsuit, which determined that <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> is not a security when sold on third-party exchanges like Coinbase and Binance.</p>  
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 <p>Although&nbsp;the initial breakout propelled <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> price to $0.93, profit-booking and a dilapidated crypto market environment saw gains to trimmed to $0.60.</p> 
 <p>Data by&nbsp;Coinglass on the <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> derivatives market&nbsp;reveals a drop in open interest to $786.81 million from slightly above $1 billion around mid-July.</p> 
 <figure id="attachment_156207" aria-describedby="caption-attachment-156207" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-156207" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201113%20593'%3E%3C/svg%3E" alt="XRP Open Interest" width="1113" height="593" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/09/8014c9f12fd5ec614fe0a60d0439219f.webp"> 
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   <img decoding="async" class="size-full wp-image-156207" src="https://cdn.thebittimes.com/images/2023/08/09/8014c9f12fd5ec614fe0a60d0439219f.webp" alt="XRP Open Interest" width="1113" height="593"> 
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  <figcaption id="caption-attachment-156207" class="wp-caption-text">
    XRP Open Interest | Coinglass 
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 <p>Based on on-chain data from the <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a>SCAN, daily network transactions have continued to move sideways around $1 million for at least 12 months, implying that the cross-border payments token has not improved fundamentally.</p>  
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 </div> 
 <h2 id="how-to-profitably-navigate-current-xrp-market-structure">How To Profitably Navigate Current XRP Market Structure</h2> 
 <p>Based on the prevailing market structure,&nbsp;XRP price&nbsp;is poised to rally – first to $0.7 where consolidation may take place ahead of the ultimate rally above $1.</p> 
 <p>Traders seeking exposure to XRP longs may want to hold on until the price breaks above the descending trendline on the four-hour chart, which marks a confluence resistance at $0.6484 with the 200-day Exponential Moving Average (EMA).</p> 
 <figure id="attachment_156206" aria-describedby="caption-attachment-156206" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-156206" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201144%20607'%3E%3C/svg%3E" alt="XRP price bounces off support at $0.6 as $1 beckons" width="1144" height="607" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/09/cabb22a4f82182bd5938301da41ebf8e.webp"> 
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  <figcaption id="caption-attachment-156206" class="wp-caption-text">
    XRP/USD four-hour chart | Tradingview 
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 <p>The path with the least resistance could remain to the upside for the rest of the week, bolstered by the positive outlook of the Moving Average Convergence Divergence (MACD) and the Money Flow Index (MFI), which have been trending upward since late last week.</p> 
 <p>The MACD dons a buy signal following a bullish cross while the MFI shows that investors are open to seeking exposure to XRP markets.</p> 
 <p>Although the technical picture on the daily chart is slightly different, it validates the bullish outlook. For instance, the 50-day EMA (red) reinforced support at $0.6. If declines soar, the 100-day EMA (blue) at $0.57 and the 200-day EMA (purple) at $0.52 will come in handy.</p> 
 <figure id="attachment_156205" aria-describedby="caption-attachment-156205" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-156205" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201143%20603'%3E%3C/svg%3E" alt="XRP price bounces off support at $0.6 as $1 beckons" width="1143" height="603" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/09/5f6b1e4eab11773c072732c7611c6e5d.webp"> 
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   <img decoding="async" class="size-full wp-image-156205" src="https://cdn.thebittimes.com/images/2023/08/09/5f6b1e4eab11773c072732c7611c6e5d.webp" alt="XRP price bounces off support at $0.6 as $1 beckons" width="1143" height="603"> 
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  <figcaption id="caption-attachment-156205" class="wp-caption-text">
    XRP/USD daily chart | Tradingview 
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 </figure> 
 <p>Traders must, however, be cautious keeping in mind the sell signal as presented by the MACD. Besides, the MFI reveals&nbsp;outflows from <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> markets&nbsp;fall behind the inflow volume.</p> 
 <p>In that case, failure to extend the uptrend above $0.7 could challenge the bulls’ position in the market and thus exert more pressure on the support areas highlighted above.</p> 
 <h3 id="related-articles">Related Articles</h3> 
 <ul> 
  <li>XRP Defies CoinGecko’s SEC Security Token List, Ripple CTO And Lawyer Reacts</li> 
  <li>Shiba Inu Lead Developer Hints At Imminent Shibarium Mainnet Release</li> 
  <li>Shiba Inu Lead Developer Hints At Imminent Shibarium Mainnet Release</li> 
 </ul> 
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 <p>&nbsp;</p> 
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XRP Price 3% Breakout Sparks Hope For $1

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TheBitTimes

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