<ul>
 <li>Ripple (XRP) price hinting a possible breakout with a 1.5% rally.</li>
 <li>Ripple CEO predicts a $10 trillion influx into XRPL from the Custody Digital Asset Market.</li>
</ul>
Today, the global cryptocurrency markets saw a modest uptick, with Ripple’s XRP showing a 2.62% gain over the past 24 hours, rising from a recent low of $0.4678 to a high of $0.48. This follows a recent dip, prompting speculation among analysts of a potential <a href="https://thenewscrypto.com/ripple-xrp-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">bullish reversal</a>.&nbsp;
At the time of writing, XRP traded at $0.4796 with a market cap of $26.70 billion. Additionally, the daily trading volume of XRP soared around 4.2% to $866 million.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="770" height="348" src="https://thenewscrypto.com/wp-content/uploads/2024/06/image-139.png" alt="" class="wp-image-102097" srcset="https://thenewscrypto.com/wp-content/uploads/2024/06/image-139.png 770w, https://thenewscrypto.com/wp-content/uploads/2024/06/image-139-300x136.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/06/image-139-768x347.png 768w" sizes="(max-width: 770px) 100vw, 770px">
 <figcaption class="wp-element-caption">Ripple (XRP) Price Chart (Source: <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
 </figcaption>
 </figure>
</div>
Market experts are optimistic about XRP’s future, citing increased whale activity, which would trigger a possible price breakout. Notably, some large XRP holders, with holdings between 1 million and 10 million tokens, have been spot-distributing their holdings despite losses sustained during the recent decline.
However, analysts and prominent figures in the crypto community are anticipating XRP to potentially reach the $2 mark, believing it may have already hit its lowest point. This sentiment is boosted by predictions of a reversal trend that could propel XRP’s price upwards in the midterm.&nbsp;
Further, Ripple CEO Brad Garlinghouse has also expressed optimism, forecasting substantial inflows into the XRP Ledger from the Custody Digital Asset Market, potentially reaching significant values.
<h3 class="wp-block-heading" id="h-xrp-24-h-price-analysis">XRP 24-H Price Analysis</h3>
According to the daily price chart, Ripple’s XRP is experiencing a downtrend, with its price stabilizing near the $0.47 mark. If this decline persists, XRP could potentially test a critical support level at $0.45, matching its <a href="https://thenewscrypto.com/ripple-xrp-price-poised-for-a-100-surge-as-accumulation-phase-nears-completion/" target="_blank" rel="noopener noreferrer nofollow">lowest point</a> since June 7th.
Conversely, in the scenario of a price recovery, XRP might aim to fill the fair value gap lying between $0.4751 and $0.4858. This range represents a crucial area where buyers could regain control and potentially drive the price higher.
A significant bullish signal would be Ripple’s XRP closing above the upper boundary of this gap, specifically at $0.4858. Such a move could invalidate the current bearish outlook and pave the way for further gains, targeting the next resistance level at $0.5163.&nbsp;
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Is Ripple (XRP) Headed for a Significant Breakout?

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TheNewsCrypto

Інші статті, опубліковані 28 черв. 2024 р.

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