• 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

a year 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.

chest

Other news

Traditional Payment Systems Struggle in Nigeria Amid Crypto Rise

chest

Traditional payment systems like Apple Pay and PayPal face significant challenges in Nigeria, with users reporting account locks and failed verifications, while stablecoins like USDT gain popularity.

user avatarElias Mukuru

iShowSpeed Makes History with USDT Purchase in Nigeria

chest

iShowSpeed makes headlines by purchasing earrings worth 23 million naira using Tether's USDT in Nigeria, showcasing the growing acceptance of stablecoins.

user avatarDiego Alvarez

Solana ETF Sees First Outflows in Two Weeks

chest

On Thursday, the Solana ETF recorded $22 million in outflows, marking the first daily decline after a week of trading sessions.

user avatarMaria Fernandez

Sentient Token Surges Despite Broader Market Decline

chest

Sentient (SENT) token surged over 60% despite a nearly 5% decline in the overall cryptocurrency market, driven by technical factors and traders seeking alternatives to Bitcoin's weakness.

user avatarKenji Takahashi

Ridges: Leader in AI Agent Training

chest

Ridges specializes in training autonomous AI agents and has recently attracted significant investment from the Stillmark Fund.

user avatarGustavo Mendoza

Lium: A Promising GPU Marketplace

chest

Lium, a Bittensor subnet, offers a flexible GPU marketplace for AI data processing.

user avatarRajesh Kumar

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.