Based

bullish

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<p>Despite price consolidation within a tight range at a support level, it appears that XRP bulls are back in the market as its trading volume skyrockets. On <a href="https://coinpedia.org/news/crypto-market-today-oct-7th-2024-bitcoin-price-crosses-62k-altcoins-see-minor-price-pump/" target="_blank" rel="noopener noreferrer nofollow">October 7, 2024, most top cryptocurrencies</a> experienced a notable price surge, but XRP’s price has remained stable over the past 24 hours.</p>  
<h2 class="wp-block-heading" id="h-xrp-current-price-momentum-nbsp"><strong>XRP Current Price Momentum&nbsp;</strong></h2>  
<p>Currently, XRP is trading near $0.538 and has experienced a modest price surge of 0.75% in the past 24 hours. During the same period, its trading volume has skyrocketed by 90%, suggesting strong participation from investors and traders, which is a positive sign for XRP holders.</p>  
<h2 class="wp-block-heading" id="h-xrp-technical-analysis-and-upcoming-levels"><strong>XRP Technical Analysis and Upcoming Levels</strong></h2>  
<p>According to expert technical analysis, XRP appears bullish but has been <a href="https://coinpedia.org/news/xrp-price-risks-dropping-to-0-17-amid-sec-appeal-but-experts-see-a-silver-lining/" target="_blank" rel="noopener noreferrer nofollow">stuck in a consolidation zone</a> between $0.512 and $0.545 for the past five trading days. Based on recent performance, whenever XRP's price reaches this level, it tends to experience a 20% rally.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/10/08033748/XRPUSDT_2024-10-08_03-37-29-1024x449.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/08033748/XRPUSDT_2024-10-08_03-37-29-1024x449.png" alt="" class="wp-image-361893"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<p>However, if XRP breaks out of this consolidation zone and closes a daily candle above the $0.55 level, there is a strong possibility it could soar by 20% to reach the $0.65 level in the coming days.&nbsp;</p>  
<p>This bullish outlook is further supported by, XRP’s <a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noopener noreferrer nofollow">Relative Strength Index</a> (RSI), which is currently in an oversold territory which signals a potential bullish price reversal in the coming days. However, it is still trading below the 200 <a href="https://coinpedia.org/traders/exponential-moving-average-ema/" target="_blank" rel="noopener noreferrer nofollow">Exponential Moving Average</a> (EMA) on the daily time frame, indicating a downtrend.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-bullish-on-chain-metrics-nbsp"><strong>Bullish On-Chain Metrics&nbsp;</strong></h2>  
<p>Apart from technical analysis, XRP’s on-chain metrics also support this bullish outlook. According to the on-chain analytics firm <a href="https://www.coinglass.com/currencies/XRP" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>, the major liquidation levels are at $0.53 and $0.563 as traders are over-leveraged at these levels.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/10/08033809/vkjvikjidcdc-1024x412.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/08033809/vkjvikjidcdc-1024x412.png" alt="" class="wp-image-361894"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>  
<p>However, data shows that bulls have placed over $8.45 million worth of long positions believing the market will not fall below the $0.53 level.&nbsp;</p>  
<p>In addition, XRP’s future open interest has increased by 3.75% over the past 24 hours and has been steadily increasing, indicating growing trader interest, with many likely betting more on long positions.</p>   [post_titles_links postid="361905"]

XRP Bulls Take Charge, Will Price Reach $0.65?

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