• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

XRP Analysis: On Path to Breakout or Potential Pullback

user avatar

by Giorgi Kostiuk

9 months ago


XRP is experiencing significant changes despite the market sell-off. The altcoin retains most of its 300% gains accumulated in late 2024 and is in a potential breakout zone.

XRP Price Dynamics

XRP remains at the forefront, holding positions above $2.30, indicating the bulls' control over the market. Leading trader Valeriya noted that these levels indicate the intentions of major players. If a bounce occurs, the price could reach $2.91, where seller liquidity is concentrated.

If the support zone resists, aggressive growth is expected with the nearest target of $2.91, where the liquidity of sellers is concentrated.Valeriya

Trader Optimism

Positive sentiment among traders is growing regarding XRP. This is influenced by recent events, such as the likelihood of a soon spot ETF approval for XRP. Ripple representatives also give reasons for optimism, foreshadowing a potential rise in asset value.

Technical Prospects

From a technical perspective, XRP has maintained positions above the 200-day EMA level and is targeting a breakout. If it successfully exits the descending trend line, growth to $2.90 and beyond is possible. However, confirmation of a daily breakout above the resistance levels of $2.50 and $2.60 remains crucial.

XRP demonstrates potential for further growth despite current market challenges. However, key factors will remain the decisions of major market participants and overall investor sentiment.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

SX Bet Launches Token Buyback Program

chest

SX Bet has launched a token buyback program, repurchasing over 380,000 SX tokens in the first four days, funded by fees from winning parlay tickets and cross-chain bets.

user avatarSon Min-ho

SX Bet Launches $50,000 USDC Tournament with New Scoring Model

chest

SX Bet is hosting a $50,000 USDC tournament starting on October 9, 2023, rewarding participants based on potential profit.

user avatarKofi Adjeman

Volume Patterns Confirm Market Accumulation for Solana

chest

The OBV indicator confirms ongoing accumulation and consistent demand for Solana.

user avatarSatoshi Nakamura

SX Bet Unveils Industry's First Peer-to-Peer Parlays

chest

SX Bet has launched the first peer-to-peer parlays in the sports betting industry, allowing bettors to build cross-event tickets with better odds through competition among market makers.

user avatarJesper Sørensen

Solana's Technical Structure Reflects Controlled Uptrend

chest

The daily chart shows Solana trading within an ascending channel pattern, indicating a strong, controlled uptrend.

user avatarNguyen Van Long

Monetary Authority of Singapore Postpones Crypto Capital Rules to 2027

chest

The Monetary Authority of Singapore has postponed the implementation of new crypto asset capital rules to January 1, 2027, following market feedback.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.