• XRP price has flipped a critical resistance level at $0.65 into a support barrier, confirming the uptrend.
  • A minor retracement retesting the said foothold followed by a climb to $0.745 seems likely.
  • If Ripple breaks below $0.65, the uptrend scenario might be delayed.

XRP price saw a swift breach of the overhead supply barrier, flipping it into support. This move indicates the presence of buyers; therefore, it is likely Ripple will continue to head higher.

After the recent upswing, Ripple might undergo a minor pullback before ascending.

XRP price prepares for the next leg up

XRP price continues to surge despite the 35% downturn between June 20 and June 22. Over the past 24 hours, Ripple has rallied roughly 15%, flipping the range low at $0.65 into a support floor.

This development provides XRP price a foothold for its next leg up. However, investors need to note that a minor retracement that retests $0.65 seems likely. This pullback will allow buyers to jump on the bandwagon.

Therefore, a potential spike in bullish momentum might propel XRP price to the 79% Fibonacci retracement level at $0.745. This move is roughly 8% from the current position, $0.685 or 15% from $0.65.

If the buying pressure continues to pour in, Ripple price might likely tag 70.5% Fibonacci retracement level at $0.783.

XRP/USDT 6-hour chart

XRP/USDT 6-hour chart

On the flip side, if XRP price slices through the range low at $0.65, it will indicate weak buying pressure. In such a case, the remittance token might retrace 13% to retest the June 23 swing low at $0.60.

A breakdown of this level will invalidate the bullish thesis and might push XRP price by 15% to $0.509.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

MATIC continues to march higher with $3 in sight

MATIC price action has certainly been some of the most dramatic post flash crash. Multiple vigorous attempts by short-sellers to push MATIC lower have all failed and have led to MATIC pushing towards new all-time highs. MATIC price action, in case you ...

More Polygon news

Dogecoin bears leave the scene as DOGE rises towards $0.24

Dogecoin price holds steady near the $0.18 value area, halting any further downside movement. Buyers appear to be showing up and preparing Dogecoin for a big launch higher. Explosive bullish entry present on the Point and Figure chart.

More Dogecoin news

XRP constricts before breaking out to $1

XRP price, like almost every other cryptocurrency, showed strong signs of recovery after the shock of this past Saturday’s flash crash wore off. The past three days of congestion after a strong rally from the lows may begin a new uptrend for XRP.

More Ripple news

Ethereum in a pennant, with bullish breakout as tailwinds reemerge

Ethereum (ETH) price has formed a pennant that quit rapidly after the big sell-off during the weekend. Between $4,646 and $4,060, the price ranges from lower highs and higher lows.

More Ethereum news

The bull and the bear case for BTC

Bitcoin price saw a recent bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. With directional bias and choppy price action, BTC is likely to experience massive volatility as the situation resolves over time. 

Read full analysis

BTC

ETH

XRP