NewsletterXRP Price Prediction: Will $XRP Price Reclaim $1 Milestone in July?
XRP Price Prediction: On June 28th, the XRP price showed another failed attempt to break the long-coming support trendline of ascending triangle pattern. The long-tail rejection project on the daily candle reflects the buyers’ continuing to buy on dips which is one of the key traits for a sustained bull run. A bullish reversal from the rising trendline sets the XRP price for another attempt to breach $0.55.
Also Read: XRP Whales Scoops 360 Million XRP; Ripple Lawsuit Verdict Near?
XRP Price Daily Chart:
- A bullish upswing in XRP price may face significant supply pressure at $0.503.
- The recent correction stayed above the 50% Fibonacci retracement level indicating long-term remains bullish.
- The intraday trading volume in the XRP is $891.2 Million, indicating a 4.3% loss.
Source- Tradingview
On June 30th, the XRP price showed another reversal from the rising support trendline. Under the influence of the ascending triangle pattern, a bullish reversal from the trendline should replenish the bullish momentum and set a new bull cycle within the pattern.
In ideal conditions, a bounce back from this dynamic support set the prices to reach the neckline($0.55) resistance, indicating the XRP price is poised for a 14% rally.
Moreover, with each lower high formed during the triangle pattern development, the XRP buyers close their distance from the $0.55 barrier, increasing the potential of a massive breakout.
This breakout will intensify the bullish momentum and bolster the XRP price to reach potential targets of $0.8, $0.91, and $1.
Is This the Right Time to Buy XRP?
Despite sluggish behavior during the June third week’s recovery, the XRP price sustained its overall uptrend using an ascending triangle pattern. The coin holders can use this pattern as trailing stop loss and even accumulate for potential dips. However, the traders looking for a safe entry can wait for a $0.55 neckline breakout.
- Relative Strength Index: The daily-RSI slope above 40% reflects the bullish momentum still intact.
- Exponential Moving Average: The XRP price obtained suitable support from the trend-defining de200-day EMA slope.
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