Convergence

Bitcoin

Resistance

XRP Price Prediction: <a href="https://coingape.com/ripple-ally-reports-10-of-south-koreans-hold-xrp/" rel="noopener noreferrer nofollow">XRP</a>, the sixth-largest cryptocurrency, picked up bullish momentum last weekend as the price rebounded from emerging support at the $0.528 mark. With the <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> hitting a high of $57000 after 2 years the recovery sentiment intensified across the altcoin market and surged the XRP price by 8% in the last 4 days. This asset approaching a key resistance trendline reflects the coin holders may soon witness a strong overhead supply.
Also Read: <a href="https://coingape.com/markets/xrp-price-forecast-can-xrp-hit-1-soon-with-recent-valour-etp-listing-boosting-market-confidence/" rel="noopener noreferrer nofollow">XRP Price Forecast: Can XRP Hit $1 Soon, With Recent Valour ETP Listing Boosting Market Confidence?</a>
<h2 id="strong-key-resistances-to-watch-in-recovery-trend-strong">Key Resistances to Watch in Recovery Trend</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/d/DBJg9TLY.png" alt="BINANCE:XRPUSDT Chart" width="1946" height="893">
 <figcaption class="wp-caption-text">
 XRP Price Prediction| Traingview
 </figcaption>
</figure>
Throughout February, the XRP price witnessed a slow yet steady rally under the influence of a rising trendline. The dynamic support uplifted the altcoin from $0.485 to $0.575, registering 18.5% growth.
The recent upswing in XRP’s price was accompanied by a notable increase in its OI-Weighted Funding Rate, as reported by Coinglass, climbing from 0.01% to 0.0625%. This significant uptick reflects an increased readiness among traders to invest more in maintaining long positions in XRP, pointing towards a bullish outlook and anticipation of further price appreciation.
Currently trading at $0.577, the <a href="https://coingape.com/price/xrp/" rel="noopener noreferrer nofollow">XRP price</a> is likely to hit the downsloping resistance trendline which has been active for the past seven months. This dynamic resistance carries the midterm downtrend and may continue to invalidate the buyer’s attempt to maintain sustainable growth.
If the overhead supply persists, the XRP price may revert and signal the continuation of a sideways trend.
Also Read: <a href="https://coingape.com/xrp-vs-sec-ripple-faces-new-class-action-for-unregistered-xrp-offerings/" rel="noopener noreferrer nofollow">XRP Vs. SEC: Ripple Faces New Class Action for Unregistered XRP Offerings</a>
<h2 id="b-can-xrp-break-through-to-hit-0-75-soon-b">Can XRP Break Through to Hit $0.75 Soon?</h2>
If the broader outlook remains, the XRP buyers will have an opportunity to breach the overhead trendline. A successful breakout above this barrier will accelerate the buying pressure in this asset and may propel altcoin 25% up to hit the psychological level of $0.75, followed by $0.93
<ul>
 <li>Bollinger Band: The rising price challenging the upper boundary of the Bollinger band indicator higher the buyers are the current dominant force in the market</li>
 <li>Moving Average Convergence Divergence: A bullish crossover between the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/" rel="noopener noreferrer nofollow">MACD</a>(blue) and signal(orange) signals the asset is returning to a recovery trend.</li>
</ul>
The post <a href="https://coingape.com/markets/xrp-price-prediction-as-buyers-220-day-to-chase-0-75/" rel="noopener noreferrer nofollow">XRP Price Prediction As Buyers Challenge 200-Day Resistance to Chase $0.75</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Prediction As Buyers Challenge 200-Day Resistance to Chase $0.75

목차

Coingape News Media

2024년 2월 27일에 게재된 다른 기사

Bitcoin Exchange OKX Announced That It Listed This Altcoin On Its Spot Trading Platform!

Industry titans cheer as Bitcoin’s meteoric rise signals bull run kickoff

Bitwise CEO: Bitcoin Had Its ‘IPO Moment’, What It Means For Price

NFT Creator Royalties Defended by Yuga Labs Amid Market Silence

Best Crypto to Buy Now February 27 – Flare, Uniswap, The Graph

Bitcoin Price Prediction: BTC Soars 9% To Highest In 27 Months As BlackRock’s Bitcoin ETF Hits Re...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!