XRP Price Prediction: XRP Price Poised for 6% Rise in Coming Week; But There’s a Catch

XRP Price Prediction: Amid the recent correction in the XRP price, the coin holders witnessed a 25% loss from the peak of $0.585 over the last three weeks. This bearish pullback plunged the coin price to 61.8% Fibonacci retracement level at $0.44 support. In theory, this FIB level is a watchful mark as the price driven to such a low level also indicates weakness in bullish momentum. Thus, the recent uptick in the XRP price doesn’t confirm the resumption of bullish momentum.

advertisement

Key Points:

  1. A long-coming ascending trendline is the key support holding the bullish outlook in XRP price.
  2. A new resistance trendline directs the ongoing correction phase
  3. The intraday trading volume in the XRP is $479.5 Billion, indicating a 39% loss.

XRP Price PredictionSource- Tradingview

On April 22nd, the XRP price rebounded from the combined support of $0.44 and 61.8 FIB level with a bullish piercing candle. This reversal candle at strong support increases the possibility of price recovery.

Today, the XRP price is down 1.48% but, if the buyers sustain above the midline of yesterday’s bullish candle, the coin will rise 6% to retest the $0.5 psychological mark as potential resistance. This level is crucial for coin holders in the coming week or two as a reversal sign from it will form a new lower higher which will encourage the resumption of further correction.

Trending Stories
Polkadot (DOT) Price
Polkadot Price Prediction: DOT Price Sees 12% Rise if Buyers Hold this Key Support, But There’s More
Price Analysis
dogecoin DOGE price crypto news
DOGE Price Prediction: This Key Level will Determine if Dogecoin Price could Rise 24% or Tumble 10%
Price Analysis
Cryptocurrency Price Prediction Today
3 Best Altcoins to Hold Despite Market FUD Rises
Price Analysis
Shiba Inu
SHIB Price Prediction: Shiba Inu Price Poised for 17% Fall as Market FUD Rises; But There’s a Twist
Price Analysis
Ethereum (ETH) Withdrawn After Shanghai (Shapella) Upgrade: Details
ETH Price Prediction: By April End; Will Ethereum Price Reclaim $2k or Plunge to $1.5K?
Price Analysis

Also Read: What Is Regenerative Finance (Refi) And Who Is It For?

If the XRP price breached $0.44 support in the near future, an ascending support trendline will remain the last support to maintain a bullish trend.

On a contrary note, if the bullish pullback gives a daily candle closing above $0.5 the buyers will gain an extra edge to reclaim lost ground.

Technical indicator

MACD: the increasing gap between the falling MACD(blue) and the signal(orange) line indicates the rising bearish momentum in the XRP price.

Vip Casino

The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT.

Signup Ad

EMAs: the XRP price plunged below the 20-and-50-day EMAs fter five-week increases in the probability for a longer correction phase.

XRP Intraday Price Levels

  • Spot price: $0.46
  • Trend: Bearish
  • Volatility: Low
  • Resistance level- $0.496-$0.5 and $0.54
  • Support level- $0.47 and $0.432

Comments

Post a Comment

Popular posts from this blog

Iran completes pre-pilot phase of central bank digital currency

The Central Bank of Iran progresses with CBDC development in anticipation of the Bank of Russia’s governor Elvira Nabiullina’s visit. Iran is moving forward with its central bank digital currency (CBDC) plans, completing preliminary research for the launch of a potential digital rial. The Central Bank of Iran (CBI) has successfully completed a pre-pilot phase in the development of Iran’s CBDC, according to an official statement by CBI’s research arm, the Monetary and Banking Research Institute (MBRI). Mohammad Reza Mani Yekta, head of the CBI office for supervising payment systems, announced the news at the ninth annual conference on electronic banking and payment systems on Feb. 20. He noted that Iran’s central bank plans to increase the scope of the CBDC pilot in the country’s payment system, but doesn’t want to rush its implementation. “The pre-pilot phase ended successfully with valuable achievements. The project will soon be launched in other ecosystems and will be used by mo...
Read more

5 Cryptocurrencies Outperforming Others in the Top 100

Image
WLD’s successful rise above the $8 resistance could trigger a jump toward $10. AR might slip below $20 while selling pressure could lead PEPE down to $0.0000013. Increased buying pressure could send FET above $2 while FLR’s momentum had turned bearish. Over the last few weeks, the broader crypto market has experienced major upside with Bitcoin (BTC) hitting $64,000 at one point. However, apart from Bitcoin’s jump, there have been several cryptocurrencies that have been in the spotlight and performed exceptionally. Here are the top five best-performing coins in the top 100. Worldcoin (WLD) Worldcoin’s (WLD) price increased by 217.82% in the last 30 days. At a particular time, the price of the token crossed $9. However, in the last seven days, the upward trajectory had cooled, and at press time, Worldcoin changed hands at $7.72. Based on the 4-hour WLD/USD chart sellers might have gotten exhausted with support appearing at $7.25. However, a build-up bac...
Read more

ChatGPT 4-o predicts Solana price amid ETF forecast for 2025

Image
Solana (SOL), currently the fifth-largest cryptocurrency by market capitalization, has experienced a notable price jump in the past 24 hours.  This rise is fueled by VanEck, a well-known New York investment management firm, filing an S-1 registration statement for its “VanEck Solana Trust,” marking the first attempt to launch a spot Solana exchange-traded funds (ETFs) in the U.S. In addition, Canadian firm 3iQ Corp recently filed a preliminary prospectus to introduce the Solana Fund (QSOL) in Canada. These filings have generated substantial interest and speculation about Solana’s future price trajectory.   Picks for you 3 cryptocurrencies to turn $100 into $1,000 for end of 2024 32 mins ago Here's Bitcoin's ...
Read more