Bank

Time

<p>The post <a href="https://coinpedia.org/news/is-xrp-about-to-break-out-the-signs-point-to-yes/" rel="noopener noreferrer nofollow">Is $XRP About to Break Out? The Signs Point to YES!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>We have seen Ripple’s $XRP take investors on a wild ride with huge highs and tough lows. No coin in the top 10 has dropped more from its all-time high (ATH) than $XRP. It’s down 86% from its peak of $3.40 in 2018, and its last big surge was in early 2021. However, Ripple has somehow managed to stay in the top 10 most valuable cryptocurrencies.</p>
<p>So, the question here is why $XRP is showing signs of an <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">uptrend now?</a> What makes a good moment for a potential surge?</p>
<h2 class="wp-block-heading" id="h-the-perfect-storm-for-xrp">The Perfect Storm for $XRP</h2>
<p>Ripple’s price has been hovering around a strong support zone at $0.2888 since 2021, hitting this level multiple times, we can see that in the chart below. This zone has proven to be a solid floor, preventing further drops.</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="462" src="https://image.coinpedia.org/wp-content/uploads/2024/07/04022442/XRP-chart-1024x462.png" alt="" class="wp-image-322487" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/04022442/XRP-chart-1024x462.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/04022442/XRP-chart-300x135.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/04022442/XRP-chart-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/04022442/XRP-chart-1536x693.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/04022442/XRP-chart-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/04022442/XRP-chart.png 1852w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source: TradingView
 </figcaption>
</figure>
<p>Now, Ripple is testing the critical resistance at $0.6687. If $XRP can break through this barrier, the next target is $0.9594. This looks like it could set the stage for a significant rally because $XRP has been stuck in this pattern for five years, so the breakout potential is huge.</p>
<h2 class="wp-block-heading" id="h-why-xrp-s-time-is-now">Why $XRP’s Time is Now</h2>
<p>The craze for this coin has never been abolished as Ripple is still a strong Layer-1 blockchain with some of the lowest transaction fees in the crypto market. Its ecosystem is growing, and it recently launched a native stablecoin. These developments are making Ripple stronger and more attractive for crypto investors.</p>
<p>The ongoing legal battle with the US Securities and Exchange Commission (SEC) has been a big issue for all these years. Initially, the SEC wanted a $2 billion fine and Ripple argued it should be no more than $10 million. Recently, they proposed a $102.6 million penalty, it seems like they are willing to compromise. This is what held XRP back.</p>
<p>Ripple is not just focused on the present but it’s building a groundbreaking payment system on the XRP Ledger (XRPL). This system works on integration with global Central Bank Digital Currencies (CBDCs), making transactions faster and more efficient throughout the world. This big vision explains why the price rise has been slow. Such a transformative project takes time but promises great rewards.</p>
<p>Overall we can say that, $XRP’s technical setup, growing ecosystem, and potential legal win make it a great opportunity for eager crypto communities</p>

Is $XRP About to Break Out? The Signs Point to YES!

Table of Contents

CoinPedia News

Other articles published on Jul 3, 2024

Chibi Clash Launches Kingdoms Alliance Event

Controversy Erupts Over Claims: Hashdex ETF to Acquire 215K+ XRP per 1,000 Shares, Says Pundit

This Altcoin Was Hacked, Price Dropped Hard!

Marathon Digital Stock Is Moving Lower: What's Going On With The Bitcoin Miner?

Bitcoin Millionaires And Ethereum Whales Take On A New Challenge With This Groundbreaking Presale

Ethereum Price Slips: Will THIS Key Level Spark a Rebound?

Join our free newsletter for daily crypto updates!