XRP Price Analysis: It’s Do Or Die for XRP Bulls As Price Breaks 2 Week Ascending Channel
- XRP price has revived nearly 40% of its July low
- XRP Price has been getting rejected at its major resistance zone
- 60 MA is attempting to hold as support
XRP Price Overview
XRP price has revived fairly well off its low set in late July. Prices have risen nearly 50% over the past two weeks as XRP struggles to break its major resistance zone of $0.77. Ripple has been battling the SEC over the last 8 months over a lawsuit regarding XRP being sold as a security or not. Despite this, XRP is still trading within the markets averages as other coins have had a lesser revival. The overall market is flashing signs that some type of bull trend is here after months of downtrending.
Over the last 2 weeks, XRP price has formed an ascending channel formation. Within the past day, price has fallen below this channel, breaking the bottom uptrend line. This is a short term bearish scenario as price has already fallen near -5%. At the time of writing, XRP is sitting on its minor support of $0.707.
If this support fails to hold, we can expect price to sweep to the major support of $0.669.
XRP Price Analysis: XRP/USDT 4 Hour Live Chart
Along with the minor support at $0.70 lies the 60MA. This MA has held price above for nearly 2 weeks. Breaking below this MA will surely confirm a short term downtrend is in place. If bulls manage to hold this MA, we should expect XRP to revive back to resistance found at $0.735. In the case XRP price clears this, the real battle for bulls sits at $0.77-$0.80. Breaking over this will launch XRP back to the $0.80-$1.00 range.
A hidden bullish divergence has been shown as the price made a higher low with strength making a lower low. This may indicate a bounce off the 60MA is soon to come.
- RSI: While looking at the RSI, we can see it has just fallen below the 50 value. This is bearish sign unless strength can pull back above in a timely manner.
- MACD: The MACD currently sits at the 0 value. Breaking below this will likely send XRP price further to the downside.
XRP Price Intraday Analysis
- Spot rate: $0.707
- Trend: Bullish
- Volatility: Medium
- Support: $0.707
- Resistance: $0.735
- BREAKING: US SEC Withdraws All Delay Notices for Solana, XRP, Other Crypto ETFs
- Pi Coin Tanks As Pi Network Allegedly Misused $20 Million Funding
- Experts Say Bitcoin CME Gap Brings Short Term Uncertainty Before Uptober Rally Begins
- MrBeast Expands Holdings in ASTER Token as Revenue Outpaces Hyperliquid by 10x
- Why Is Canary Litecoin ETF Approval by US SEC This Week Crucial for Crypto Market?
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
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.
