The post <a href="https://coinpedia.org/price-analysis/xrp-price-prediction-ema-breakout-hints-massive-bull-run-to-1/" rel="noopener noreferrer nofollow">XRP Price Prediction: EMA Breakout Hints Massive Bull Run To $1</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a declining trend at play, the XRP price action reveals a bearish pattern in the making. Further, the market crash put the Ripple token under the $0.50 psychological mark.&nbsp;
However, with the recent XRP price recovery along with the increasing chances of market recovery, the altcoin is ready for a bull run. Will the bullish trend reach $1? For a longer-term prediction, check out our <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">XRP price prediction</a>.
<h2 class="wp-block-heading" id="h-a-bullish-outcome-for-falling-wedge-pattern">A Bullish Outcome For Falling Wedge Pattern?</h2>
Reversing from the $0.7221 mark, the declining trend in the XRP price action reveals a falling wedge pattern in the daily chart. Further, the downfall fuels the death cross in the 50D and 200D EMA.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeW5V2Gz6LO8GQfqlbxGNN5rmc81gl20E1ZujJqI5OAEIInQIZ3kXRrwR1qW47JGo8_WNSHxazzJCsn7hceoziKXsrAUuLpoAnCkPjEpUAIiCns2QeD1NvPZ_pHEcW3DYiwdbsEetv6I7TWd_rkxd3Mzf1o?key=E-A89DOYUzf0c8F9snyBEA" alt="">
</figure>
<a href="https://www.tradingview.com/x/TNAQTFK8/" rel="noopener noreferrer nofollow">Tradingview</a>
Dropping below $0.50, the altcoin finds support at a declining trendline near the $0.4183 mark. With a new recovery rally, the altcoin is up by 10% in five days and challenges the overhead trendline.&nbsp;
Currently, the XRP price trades at $0.4672, with an intraday rise of 4.07%, creating the fifth consecutive bullish candle. The altcoin shows massive upside potential by using a wedge breakout with a rounding bottom reversal.
Technical Indicator:
EMA: With a bullish comeback, the XRP token challenges the 50D EMA, as the average line declines after the deathcross.&nbsp;
RSI: The daily RSI line shows a quick reversal from the oversold boundary, reflecting a massive surge in demand for the XRP token.&nbsp;
<h2 class="wp-block-heading" id="h-will-xrp-price-reach-the-1-milestone">Will XRP Price Reach The $1 Milestone?</h2>
As the bullish reversal in the XRP price gains momentum, the sideline traders are anticipating a breakout rally. With the wedge breakout, the altcoin could challenge the 200D EMA at $0.53.
Further, as per the wedge pattern, the Ripple token price could hit the peak of $0.72. Considering that altcoin finds the support of the broader crypto market recovery, the uptrend in XRP could hit the $1 psychological mark.&nbsp;

XRP Price Prediction: EMA Breakout Hints Massive Bull Run To $1

विषयसूची

CoinPedia News

12 जुल॰ 2024 को प्रकाशित अन्य लेख

Best New Airdrops July 2024

Cardano Gains Attention with Potential in 2024

Top Airdrops for Earning Free Crypto

Trending Meme Coins For Massive Gains Next Week

Hidden Crypto Gems to Watch This Summer

XRP Featured In Grayscale’s Weekly Spotlight Of Prominent Cryptos

रोजाना क्रिप्टो अपडेट पाने के लिए हमारे मुफ्त न्यूजलेटर से जुड़ें!