bullish

Daily

<p>XRP’s price has seen minimal volatility near the significant support region of the 200-day moving average at $0.54.</p>
<p>Given the potential demand at this crucial juncture, a period of sideways consolidation is expected, with Ripple likely moving toward the $0.64 resistance region in the short term.</p>
<h1 id="xrp-analysis">XRP Analysis</h1>
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Shayan</a></p>
<h2 id="the-daily-chart">The Daily Chart</h2>
<p>Ripple’s price is showing minimal volatility near the crucial support level of the 200-day moving average at $0.54. After a slight rejection from the significant $0.63 resistance zone, it retraced toward the support of around $0.55. This aligns with the 200-day moving average, offering a strong foundation for the price.</p>
<p>Currently, the cryptocurrency seems to be consolidating with little indication of its next direction. The price remains confined within a decisive range, bound by the $0.63 resistance and $0.55 support levels.</p>
<p>Given the current conditions, a period of sideways consolidation within this range is expected in the short term. The eventual breakout in either direction will likely dictate Ripple’s next significant move.</p>
<figure id="attachment_354099" aria-describedby="caption-attachment-354099" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-D-2-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-354099" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<h2 id="the-4-hour-chart">The 4-Hour Chart</h2>
<p>The 4-hour chart further highlights Ripple’s recent retracement phase, showing a bearish corrective movement characterized by weak momentum.</p>
<p>The price has now settled on a crucial support region around the $0.55 level, which has historically provided stability. XRP is also within a descending flag pattern, suggesting the potential for a continuation of the bullish trend if the price breaks above the pattern’s upper boundary.</p>
<p>Currently, a tug-of-war between buyers and sellers is unfolding near the $0.55 mark. The price action indicates a possible resurgence in buying pressure in the coming days, potentially leading to a rally targeting the key $0.64 resistance level.</p>
<p>However, if the price unexpectedly breaks below this support, the next target would likely be within the 0.5-0.618 Fibonacci retracement range.</p>
<figure id="attachment_354098" aria-describedby="caption-attachment-354098" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-354098" src="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-scaled.jpg" alt="" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-2-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-354098" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-xrp-bulls-want-to-aim-0-64-but-theres-a-catch/" rel="noopener noreferrer nofollow">Ripple Price Analysis: XRP Bulls Want to Aim $0.64 But There’s a Catch</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: XRP Bulls Want to Aim $0.64 But There’s a Catch

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