HODL

2024

<p>The post <a href="https://coinpedia.org/price-analysis/triangle-fails-to-hodl-xrp-price-within-warns-0-40-crackdown/">Triangle Fails To HODL XRP Price Within, Warns $0.40 Crackdown&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Following the bearish week, the crypto market witnesses a massive dump in the altcoins. Amidst the crashing altcoins, <a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noreferrer noopener">XRP price</a> broke below the $0.50 psychological mark with an 11% fall last week.&nbsp;</p> 
<p>As the XRP price loses the crucial mark of $0.50, the supply pressure is expected to increase this week. Currently, the altcoin hangs at the next support of $0.40 and warns of a new 52W low.</p> 
<h2 class="wp-block-heading" id="h-xrp-price-performance-nbsp">XRP price Performance&nbsp;</h2> 
<p>With a market cap of $23.47B, XRP stands as the 7th biggest crypto in the market. In the five weeks, the <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP price</a> has dropped by 20% and lost the $0.50 mark. Currently, the altcoin trades at $0.41968 after the 6.58% drop on Sunday.&nbsp;</p> 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfKizQbU4pVzvH64cvf8tQ9T9LnjX-1-A6CjirW24tUAurwTC0LPfQvk6cwOxrMhDoYidd0bJq6PnSjTlqFgAkJ_7cxaAfMM5X5dyw8B9I_hPqaUt77VkBcAOOBOI3XF1QC3B9eHMvRe0wXFFRMjlvqiVkH?key=Q9whMP11IZGB9JTxA5FznQ" alt="">
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<p><a href="https://www.tradingview.com/x/VwSZZ2BF/">Tradingview</a></p> 
<p>In the weekly chart, the XRP price fails to sustain within the triangle pattern as it breaks under the rising support trendline. With a Doji candle at play, the altcoin hangs at the $0.41 mark.&nbsp;</p> 
<p>With $2M worth of long-side liquidations, the bearish powers are strong in XRP. Further, the 57% rise in the 24 hour trading volume bolster the ongoing correction rally.&nbsp;</p> 
<p>Further, the breakdown of the triangle pattern warns of an extended crash in the XRP price. A drop under the $0.40 mark could test the bullish dominance at the $0.32 or $0.29 support levels.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-significant-xrp-transfer-sparks-market-interest">Significant XRP Transfer Sparks Market Interest</h2> 
<p>A large transfer of 37,390,000 XRP, valued at approximately $16,064,836 USD, was made from an unknown wallet to the Bitstamp exchange. This significant movement of funds, tracked by Whale Alert, raises speculation about potential market impacts.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 37,390,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (16,064,836 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw">#Bitstamp</a><a href="https://t.co/qfCegLxPKI">https://t.co/qfCegLxPKI</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1810030923997479125?ref_src=twsrc%5Etfw">July 7, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Such large transfers can indicate either incoming selling pressure or strategic repositioning by major holders.</p> 
<h2 class="wp-block-heading" id="h-will-xrp-price-float-above-0-40">Will XRP Price Float Above $0.40?</h2> 
<p>With the bearish breakdown and the rising supply pressure from the whales, the XRP price is under intense pressure. However, the demand stands strong at the $0.40 level, which is evident with the lower price rejection in the daily candle.&nbsp;</p> 
<p>As it stands at a crossroads, a broader market recovery could pump the XRP price back above the trendline. A bullish reversal reclaiming the $0.50 psychological mark can reach the $0.68 peak. On the flip side, a drop under $0.40 will plunge to $0.32 or $0.29.</p> 
<p>Read Also: <a href="https://coinpedia.org/price-analysis/crypto-market-analysis-bitcoin-ethereum-and-altcoins-show-gains/" target="_blank" rel="noreferrer noopener">Crypto Market Analysis: Bitcoin, Ethereum, and Altcoins Show Gains!</a></p>

Triangle Fails To HODL XRP Price Within, Warns $0.40 Crackdown

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