TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Has XRP accumulated enough efforts for a retest of $0.75?

Has XRP accumulated enough efforts for a retest of $0.75?
Denys SerhiichukDenys SerhiichukU.Today

The last day of the week has turned out to be bullish for the cryptocurrency market as most of the coins remain trading in the green zone. Cardano (ADA) is the only loser, falling by 1.78%.

Chart

Top 10 coins by CoinMarketCap

The market capitalization index keeps going up and is now $1.5 trillion.

Chart

Cryptocurrency market capitalization

The relevant data for XRP is looking the following way

  • Name: XRP.

  • Ticker: XRP.

  • Market Cap: $27,034,447,004.

  • Price: $0.5954.

  • Volume (24h): $10,539,466,770.

  • Change (24h): 0.60%.

The data is relevant at press time.

XRP/USD: Can XRP get the growth to $0.75 next week?

The rate of XRP is almost unchanged over the last day. The rate of the altcoin has gone up by 0.60%.

Chart

XRP/USD chart by TradingView

On the hourly chart, XRP is about to restest the liquidity zone at $0.61 shortly. Such a scenario is possible as the selling trading volume is slightly going down.

Chart

XRP/USD chart by TradingView

On the bigger time frame, the situation is less bearish as the current liquidity is not enough for a continued rise.

Respectively, there is a high chance of seeing XRP trading at the MA 50 level around $0.51 next week.

Chart

XRP/USD chart by TradingView

On the daily chart, the growth price action remains the most likely scenario if bulls keep trading above $0.53. Thus, XRP is trading within the ascending channel that confirms the ongoing power of buyers. All in all, the local resistance at $0.75 may be tested next week if the trading volume increases.

XRP is trading at $0.5830 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

More from Denys Serhiichuk
Share:

Editor's Picks

Japanese Yen gains after hawkish Fed hold

Japanese Yen gains after hawkish Fed hold

USD/JPY trades near the 163.60 area on Wednesday, recovering from its immediate post-announcement decline as investors assess a generally hawkish Federal Reserve (Fed) monetary policy decision. The Federal Open Market Committee (FOMC) left the Fed funds rate unchanged within the 3.50%–3.75% range, as widely expected.
XRP edges up as Flare simplifies staking process

XRP edges up as Flare simplifies staking process

Ripple (XRP) holds modest gains, trading around $1.08 at the time of writing on Wednesday. The remittance token mirrors the general neutral-to-bullish outlook in the crypto market, as focus shifts to the Federal Reserve (Fed) rate decision. Market participants widely expect the Fed to leave interest rates unchanged in the 3.50%-3.75% range.
Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision

Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision

Cryptocurrency prices are broadly stable on Wednesday ahead of the Federal Reserve (Fed) interest rate decision. Bitcoin (BTC) holds above $64,000 but is struggling to sustain its rebound while Ethereum (ETH) sits above the short-term $1,900 support. Meanwhile, Ripple (XRP) is approaching the pivotal $1.10 resistance, a level that could shape the token’s upward trajectory if it is breached.
Bitcoin muted as markets fret over Fed, crypto bill

Bitcoin muted as markets fret over Fed, crypto bill

There are two main drivers for crypto this week, keeping Bitcoin trapped within its $58,000-$65,000 summer consolidation range. The cautious tone is being set by the Fed's policy decision scheduled later on Wednesday, a key catalyst for risk assets.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.