Rally

bullish

Verge

The <a href="https://cryptoticker.io/en/token/XRP">XRP</a> market has been abuzz with predictions of a major breakout, potentially mirroring its historic 60,000% surge in 2018. Crypto analysts have pointed to technical indicators suggesting that XRP could be on the verge of a significant price movement. This article consolidates insights from two leading analyses, providing a comprehensive outlook on <a href="https://www.bitget.com/spot/XRPUSDT?vipCode=94qs">XRP's</a> future.
<figure class="image">
 <img style="aspect-ratio:1824/770;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/XRPUSD_2024_07_30_All_85ccb9a50a.png" alt="By TradingView - XRPUSD_2024-07-30 (All)" width="1824" height="770">
 <figcaption>
 <a href="https://www.tradingview.com/symbols/XRPUSD/?aff_id=127958">By TradingView - XRPUSD_2024-07-30 (All)</a>
 </figcaption>
</figure>
<h2 id="strong-xrp-price-analysis-xrp-on-the-verge-of-ultimate-breakout-strong">XRP Price Analysis: XRP on the Verge of Ultimate Breakout</h2>
According to analysts, <a href="https://www.bitget.com/spot/XRPUSDT?vipCode=94qs">XRP</a> is forming a <a href="https://www.investopedia.com/terms/s/symmetricaltriangle.asp">symmetrical triangle pattern</a> on its 3-monthly chart, indicating decreasing market volatility and the potential for a significant breakout by the end of September 2024. This pattern involves converging support and resistance lines, suggesting a buildup of market strength.
<figure class="image">
 <img style="aspect-ratio:1824/770;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/XRPUSD_2024_07_30_3_M_77246fab9d.png" alt="By TradingView - XRPUSD_2024-07-30 (3M)" width="1824" height="770">
 <figcaption>
 <a href="https://www.tradingview.com/symbols/XRPUSD/?aff_id=127958">By TradingView - XRPUSD_2024-07-30 (3M)</a>
 </figcaption>
</figure>
The <a href="https://www.investopedia.com/trading/support-and-resistance-basics/">downward-sloping resistance line</a>, termed "Ultimate Resistance," represents a critical psychological barrier, while the upward-sloping support line is the "Ultimate Support." Recently, XRP found support at the 23.60% Fibonacci retracement level at $0.3917 after dipping below the support line in July. Currently trading above this trendline, XRP’s performance by September 30, 2024, will be crucial for confirming a bullish trend.
Some analysts' price targets are highly ambitious, starting with immediate resistance at $0.6649 and extending to $18.2364. The 70.20% mark at $0.6649 could confirm bullish sentiment, while the 100.00% level at $0.9327 would signify a full retracement of previous declines. Further bullish targets include $1.8817, $5.8579, and the ultimate breakout target at $18.2364.
<h2 id="strong-xrp-price-prediction-is-a-60-000-rally-possible-strong">XRP Price Prediction: Is A 60,000% Rally Possible?</h2>
Echoing past patterns, XRP's market conditions resemble those preceding its monumental 60,000% rally in 2018. Notably, the<a href="https://www.tradingview.com/script/tqitSsyG-Bollinger-Band-Width-Percentile/"> Bollinger Band Width (BBW)</a> on XRP’s monthly chart hit a record low in July, indicating a period of low volatility similar to the pre-2018 rally phase. Historically, such low volatility periods precede major price movements, suggesting a potential breakout.
<figure class="image">
 <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/XRPUSD_2024_07_30_1_M_cb91cd39b5.png" alt="By TradingView - XRPUSD_2024-07-30 (1M)">
 <figcaption>
 <a href="https://www.tradingview.com/symbols/XRPUSD/?aff_id=127958">By TradingView - XRPUSD_2024-07-30 (1M)</a>
 </figcaption>
</figure>
During the 2016-2017 session, XRP's BBW contraction led to a 66,000% price breakout. This time, the consolidation has lasted twice as long, with even lower monthly volatility, which is what other analysts anticipated a significant price breakout for <a href="https://www.tradingview.com/symbols/XRPUSD/?aff_id=127958">XRP price</a>.
<figure class="image">
 <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_XRP_Overall_Performance_9a7f2917e6.png" alt="By TradingView - XRP Overall Performance.png">
 <figcaption>
 <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958">By TradingView - XRP Overall Performance</a>
 </figcaption>
</figure>
XRP's current valuation of approximately $0.62 is near the middle Bollinger Band, reflecting balanced market forces. However, trading above this middle band suggests a bullish tilt. The symmetrical triangle on XRP's monthly chart hints at an upside continuation, with a potential target of $14.75, up about 2,200% from current levels.
<figure class="image">
 <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_XRP_Price_Performance_24h_30f7d7b5b2.png" alt="By TradingView - XRP Price Performance (24h)">
 <figcaption>
 <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958">By TradingView - XRP Price Performance (24h)</a>
 </figcaption>
</figure>
Both technical and fundamental <a href="https://www.tradingview.com/symbols/XRPUSD/?aff_id=127958">XRP price</a> analyses suggest that XRP could be on the cusp of a major breakout. Key price targets range from $0.6649 to an optimistic $18.2364, with historical patterns indicating a potential for substantial gains. With these indicators, XRP's performance should be closely monitored as it approaches the critical end-of-September period.

XRP Price Prediction: Why Is ONLY XRP Price UP While The Crypto Market Is DOWN?

Inhoudsopgave

CryptoTicker ENG

Andere artikelen gepubliceerd op 30 jul 2024

Avalanche Down More Than 4% Within 24 hours

Ethereum Under Pressure! Justin Sun’s $5.9M Transfer Sparks Selloff Fears

Dems Could Sell Off All Bitcoin To Thwart Trump’s ‘Stockpile’ Plans: Experts

XAUUSD Trading Platforms

Core Foundation Launches Dual Staking to Enhance Bitcoin Yields

Hamilton Lane With $900B AUM Unveils SCOPE Fund on Solana

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!