Rally

Bitcoin

XRP price is down 0.5% in the last 24 hours to trade at $0.5292 during European business hours on Monday. This decrease comes as Bitcoin price starts to recover following the end of Germany’s Bitcoin sales on the open market. Almost immediately after, whales stepped in and purchased 47,000 BTC. The price of Bitcoin increased 4.3% over the last 24 hours to trade around $62,897. 
<h2 id="b-xrp-price-eyes-0-60-after-breaking-back-into-range-b">XRP Price Eyes $0.60 After Breaking Back into Range&nbsp;</h2> 
<figure id="attachment_207495" aria-describedby="caption-attachment-207495" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-207495" src="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-1.jpeg" alt="XRP price " width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-1.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-1-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-1-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-1-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-1-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
 <figcaption id="caption-attachment-207495" class="wp-caption-text">
 XRP price chart
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</figure> 
The <a href="https://coingape.com/price/xrp">XRP price</a> recently broke down from a consolidation zone and hit a low of $0.382. According to the technical analysis, the markets were bleak, and there was evidence of further downside. On July 12, news about the CME real-time indices for XRP reached mainstream crypto media outlets. The following day, Judge Torres ruled that XRP is not a security, which boosted XRP’s price back into its previous range.&nbsp; 
The XRP price action is trending above the 21-day and 50-day simple moving averages (SMA) but below the 200-day SMA. Price The asset jumped 27% over the weekend to hit the top of the consolidation zone around $0.57, the highest price since early May.&nbsp; 
Following the recent Bitcoin price uptick, the XRP price rally has slowed as investors reinvest their profits in the top cryptocurrency. 
XRP price prediction shows the asset may linger below the 200-day SMA resistance before pushing higher above the range. Key resistance levels to look out for include $0.57, $0.6, and $0.66. Conversely, if market conditions turn bearish, XRP price may find support around $0.47, $0.44, and $0.35. 
<figure id="attachment_207496" aria-describedby="caption-attachment-207496" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-207496" src="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29.jpeg" alt="BTC price chart" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-08.53.29-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
 <figcaption id="caption-attachment-207496" class="wp-caption-text">
 BTC price chart
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</figure> 
<a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> is trending above its 21-day, 50-day, and 200-day simple moving averages (SMA). Additionally, the asset has surged into the $60,000 to $70,000 range, a bullish indicator of its price movement. 
Is Bitcoin truly out of the woods yet? The recent price action invalidated the previous double-top formation in what appears to be a classic fake-out. According to the <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/">Bitcoin price prediction</a>, BTC can rally 16% from this point, potentially reaching its last all-time high of $73,086. Key resistance levels to monitor on this upward journey include $70,200. 
<h2 id="b-bitcoin-whales-entice-traders-back-in-b">Bitcoin Whales Entice Traders Back In</h2> 
After the German government depleted its <a href="https://coingape.com/donald-trump-still-committed-to-speak-at-bitcoin-conference/">Bitcoin</a> holdings, whales are rushing back in. Germany sold a total of $2.9 billion worth of Bitcoin.&nbsp; 
<figure id="attachment_207497" aria-describedby="caption-attachment-207497" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-207497" src="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-09.05.03.jpeg" alt="Bitcoin Exchange Outflow" width="680" height="383" srcset="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-09.05.03.jpeg 680w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-09.05.03-300x169.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-09.05.03-678x383.jpeg 678w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-15-at-09.05.03-150x84.jpeg 150w" sizes="(max-width: 680px) 100vw, 680px">
 <figcaption id="caption-attachment-207497" class="wp-caption-text">
 Bitcoin Exchange Outflow
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</figure> 
However, according to the <a rel="nofollow" href="https://cryptoquant.com/sign-in?next=%2Fasset%2Fsol%2Fsummary">CryptoQuant</a> Bitcoin Exchange Outflow, whales have accumulated over 47,000 BTC since July 6—a hefty $4.3 billion. This suggests that Bitcoin may be near the bottom.&nbsp; 
<h2 id="b-bottom-line-b">Bottom Line</h2> 
XRP’s recent price rally lost momentum as Bitcoin whales re-entered the market with a significant $4.3 billion influx. This shift in capital flow towards Bitcoin could potentially impact XRP’s performance against BTC in the short term. However, after the smoke has cleared, the XRP price may rise above the $0.55 barrier to hit the $0.65 price target. 
The post <a href="https://coingape.com/markets/xrp-btc-forecast-xrp-price-rally-slows-as-bitcoin-whales-make-4-3b-comeback/">XRP/BTC Forecast: XRP Price Rally Slows Amidst Bitcoin Whales $4.3B Inflow Comeback</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP/BTC Forecast: XRP Price Rally Slows Amidst Bitcoin Whales $4.3B Inflow Comeback

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