NewsletterXRP Price Regains Bullish Momentum; Time to Surpass $1?
After a massive jump on July 13th, the XRP price witnessed a minor correction starting from the $0.937 high. This bearish pullback tumbled the prices 36.7% but found immediate support at the 38.2% Fibonacci retracement level. This FIB level aligned with $0.68 support created a strong demand pressure and replenished the exhausted bullish momentum for further rally. Can this post-correction rally push the XRP price above $1?
Also Read: XRP Price Looks Beyond $1, Analyst Predicts Groundbreaking Rally To $27
XRP Price Daily Chart:
- The $0.937 stands as crucial resistance against coin buyers
- Post-correction rally hints 16.6% rally to hit $0.911 resistances
- The intraday trading volume in the XRP is $3.2 Billion, indicating a 29% gain.
Source: Tradingview
On July 16th, the XRP price rebounded from the 38.2% FIB level with a bullish reversal morning star candle pattern. A correction to the aforementioned retracement level is considered healthy to recuperate exhausted bullish momentum and lead a long-term bull trend.
In the last five days, the coin price surged 15% and breached the immediate resistance of $0.778 near the 23.6% FIB level. As of now, the XRP price trades at $0.8, and if the daily candle closes above the reclaimed resistance, the buyers will gain additional support to prolong to $0.937 swing high.
The $0.937 resistance is crucial for the crypto buyers, as a breakout above will give suitable confirmation for uptrend continuation above $1.
[converter id=”xrp-xrp” url=”https://coingape.com/price/converter/xrp-to-usd/?amount=1″]
Will XRP Price Reclaim $1 Milestone?
If the market conditions remain uncertain, rejection signs at $0.937 resistance will reflect the possibility of a bearish reversal pattern called a double top. The pattern formation could undermine the bullish thesis and trigger significant correction below the $0.68 support.
- Moving average convergence divergence: A significance spread between the MACD(Blue) and signal line(orange) in a bull crossover state indicates a bullish uptrend is intact.
- Average Directional Index: The high value of the daily ADX slope(42%) indicates instability in the current bullish trend.
- Bitcoin Surges Above $90K Fueled By Fed QT End And Rate Cut Optimism
- HYPE Jumps 10% as Hyperliquid Treasury Firm Sonnet Secures Merger Approval
- Bitamp Wallet Review: User-friendly Web Wallet for Bitcoin Transactions
- Breaking: First U.S. Chainlink ETF Goes Live as Grayscale Launches ‘GLNK’
- Breaking: SEC Chair Reveals Innovation Exemption for Crypto Firms Could Start in January
- Bitcoin Price: What’s Next For BTC After Fed Chair Jerome Powell’s Speech?
- XRP Price Slowly Forms a Rare Pattern as Ripple ETFs Near $1B Milestone
- Chainlink Price Eyes More Recovery After Grayscale’s Spot ETF Launch
- FUNToken Is Surging: Will FUN Price Recapture Early 2025 Growth?
- Ethereum Price Prediction: ETF Outflows Hit $79M as Institutional Accumulation Surges
- Pump Coin Price Jumps 10% as Whale Accumulates $23.5M; What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
