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XRP - Another Leg Tomorrow?We are observing potential signs of an additional 10%+ move tomorrow for XRP. After our move from the low of $0.38 to the breakout of our orange triangle and continuation of the move to $0.63, we did see XRP pull back from $0.63 to $0.54. So far this was an excellent test as price briefly went down to $0.54 to test our blue 200 MA on the daily and instantly shot back up to $0.57. We almost printed a doji today which would've even been more of a powerful signal of another reversal, but we can still conclude that due to the test of the 200 MA as support XRP remains in a uptrend. This could send price back to test the $0.63 level or higher. Some of the other important level could be a small stop around $0.66, but the main area of potential selling liquidity would be $0.72-$0.74. If we get above that the next level is $0.79 based on daily closes, and if we close a daily above that level then we will update this post and could see prices above $1.
by VIAQUANT
1
XRP Breaks Through: A Bullish Signal or False Dawn?XRP, the native token of the Ripple network, has been making waves recently with a surge in price that sees it decisively breaking through both the 50-day and 100-day Exponential Moving Average (EMA) lines. This technical indicator suggests a potential shift in momentum for the cryptocurrency, but is it a sign of a sustained bullish trend or a temporary blip? Understanding the EMAs EMAs are a popular technical analysis tool used to gauge an asset's price movement. They smooth out price fluctuations by giving more weight to recent prices. The 50-day EMA reflects the short-term trend, while the 100-day EMA represents the mid-term trend. Traditionally, a breakout above both EMAs is considered a bullish signal, indicating a potential reversal from a downtrend or a continuation of an uptrend. XRP's Recent Price Action For much of 2024, XRP had been trading sideways, consolidating around the crucial $0.50 support level. However, a recent uptick in buying pressure has pushed the price above the 50-day EMA and decisively past the 100-day EMA. This breakout suggests a potential shift in market sentiment, with investors becoming more optimistic about XRP's future prospects. Possible Reasons Behind the Breakout Several factors could be contributing to XRP's recent bullish momentum: • Renewed Interest in Ripple - Ripple, the company behind XRP, has been making significant strides in its ongoing lawsuit with the SEC. Recent developments in the case, such as favorable court rulings, could be boosting investor confidence in Ripple and by extension, XRP. • Increased Adoption of RippleNet - RippleNet, Ripple's cross-border payment network, has been gaining traction in the financial sector. New partnerships and successful use cases could be driving demand for XRP, which is used to facilitate transactions on the network. • Broader Market Recovery - The cryptocurrency market as a whole has shown signs of recovery in recent months. This positive sentiment could be spilling over to XRP, leading to the current price increase. Is This a Sustainable Bull Run? While the breakout above the EMAs is a positive technical indicator, it's crucial to maintain a cautious outlook. Here are some factors to consider: • Market Volatility - The cryptocurrency market remains highly volatile. Short-term price swings and potential corrections are still a possibility. • Outcome of the SEC Lawsuit - The ongoing legal battle between Ripple and the SEC is a major overhang for XRP. A negative outcome could dampen investor enthusiasm. • Regulatory Landscape - Regulatory uncertainty surrounding cryptocurrencies persists globally. Stricter regulations could hinder XRP's adoption and growth. Looking Ahead The recent breakout of XRP above the 50-day and 100-day EMAs is a positive development, but it's too early to declare a sustained bull run. Continued buying pressure, positive developments in the SEC lawsuit, and wider adoption of RippleNet are necessary for XRP to maintain its upward trajectory. Investors should closely monitor these factors and conduct thorough research before making any investment decisions. In Conclusion XRP's recent price action has sparked renewed interest in the cryptocurrency. While the technical indicators suggest a potential bullish trend, a wait-and-see approach is recommended. Continued monitoring of market forces, legal developments, and regulatory landscapes will provide a clearer picture of XRP's long-term prospects.
by bryandowningqln
Time Proves Everything---- XRPFor cryptoers who are new to this bull market, Ripple is an unfamiliar project. More Rookie’s knowledge of Ripple is that Ripple and many regulatory agencies have lawsuits. But this project, which was born in 2012, has received favor from the traditional banking industry at the application layer. Among Grayscale’s trusts, apart from BTC and ETH, XRP has a seat. The recent Bank for international settlements recording XRP as secondary capital, like BTC, also showd Ripple's power. Ripple is an International remittance solution, which is the same as SWIFT. However, Ripple uses distributed ledgers to achieve secure and instant global financial transactions. Compared to projects growing in a complete ecosystem today, Ripple is more like an early blockchain innovation project relying on the real world. Even though Ripple is 12 years old, it is still functioning on an application level. The premature attention attracted regulators from the SEC. The protocols or CEXs of the same period were almost defeated by regulation or eliminated by the times. Ripple is a living fossil. Now, regulators are loosening the rope on the crypto market. The listing of the ETF and the dismissal of the lawsuit prove this. Ripple gets a chance to get off the ropes. At the same time, become a strong competitor for the next ETF. Next let’s look at the indicators. XRP is one of the few tokens with a BUY signal in the current environment. We can see that after the TSB indicator prompted a BUY signal on July 24, XRP had an obvious pump. It is now pulling back near the support line in the wavy zone. This will generate bullish power and is a suitable point to add to a position. Introduction to indicators: Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated. KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by sypool-AI-TradeGenius
I believe the buying is near 0.4923I believe the buying is near 0.4923 My chart should indicate on the white line just below the white Ma and I believe just above the support line a possible area for buying in is just above and that thin green line they approaches across that would be considered the byline and if it breaks through that of course a cell indicator will will come up individually. I honestly don't know why I thought I could buy in and sell for profit before it would go further down as indicated by the 12-hour and now the one day chart The WizardOfRealms13
Short
by WizardOfRealms