bullish

Daily

<ul>
 <li>Ripple bounced back from key support between $0.53 and $0.55.&nbsp;&nbsp;</li>  
 <li>XRP faces strong resistance at $0.64, testing the bullish momentum.&nbsp;&nbsp;</li>  
 <li>A breakout above $0.64 could trigger further gains; failure risks a pullback.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/xrps-hidden-signals-suggest-500-surge/" target="_blank" rel="noopener noreferrer nofollow">Ripple (XRP)</a> recently bounced back from crucial support levels. This strong rebound suggests the asset might target $0.64. But what do the charts reveal about Ripple's next steps?</p>  
<h2 class="wp-block-heading" id="h-daily-chart-analysis">Daily Chart Analysis</h2>  
<p>Ripple found solid support between the 100-day moving average at $0.53 and the 200-day average at $0.55. This support zone attracted significant buying pressure, leading to a notable recovery.&nbsp;</p>  
<p>Now, XRP is approaching the <a href="https://cryptonewsland.com/xrp-faces-volatile-market-as-it-approaches-critical-resistance-level/" target="_blank" rel="noopener noreferrer nofollow">key resistance</a> level of $0.64. This level has been a tough barrier for Ripple in the past and could slow the current bullish trend. If Ripple fails to break through $0.64, sellers might regain control. This scenario could lead to a drop back to the $0.55 support.&nbsp;</p>  
<p>Conversely, a successful breakout above $0.64 might indicate further <a href="https://fastercapital.com/topics/what-is-bullish-momentum.html" target="_blank" rel="noopener noreferrer nofollow">bullish momentum</a> and a shift in market sentiment.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-4-hour-chart-insights">4-Hour Chart Insights</h2>  
<p>Looking at the 4-hour chart, Ripple recently found support around the 0.5 ($0.52) and 0.618 ($0.48) Fibonacci retracement levels. This support, along with the lower boundary of a descending flag pattern, ended the previous bearish trend and sparked a strong upward move.</p>  
<p><a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> is now climbing towards the upper boundary of the flag pattern at $0.62. A breakout above this level could signal continued bullish momentum. However, if Ripple fails to surpass $0.62, it might face a bearish pullback. This could see the price retreating to the flag’s lower trendline, near the critical $0.53 support.</p>  
<p>Ripple’s recent rebound from key support levels points to a potential move towards $0.64. Traders should watch closely for any resistance at this level. The coming days will be crucial in determining if XRP’s upward trend will continue or pull back.</p> 
<p>The post <a href="https://cryptonewsland.com/ripple-eyes-0-64-after-support-boost/" rel="noopener noreferrer nofollow">Ripple’s Next Move: Is $0.64 the Target After Recent Support?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple’s Next Move: Is $0.64 the Target After Recent Support?

Table of Contents

Crypto News Land

Other articles published on Sep 16, 2024

Self-custody turns the unbanked into a real force in emerging markets | Opinion

MicroStrategy Buys Another $1.11B in Bitcoin, Reaches 244,800 BTC Holdings

Donald Trump Will Introduce Cryptocurrency Project Today: Here’s All You Need to Know

BitGo launches regulated custody platform for native protocol tokens

Bitcoin Diverges from Gold Amidst Rising Economic Uncertainties

Shocking Bitcoin Heist: How $1.4 Billion Vanished Overnight!

Join our free newsletter for daily crypto updates!