Rally

Resistance

Coin

<ul class="wp-block-list news-points">
 <li>XRP approaches key resistance levels, with $0.6450, $0.85, and $1.10 as major targets.</li>
 <li>Support levels at $0.48, $0.38, and $0.28 are crucial for XRP’s downside protection.</li>
 <li>Fibonacci projections highlight long-term targets of $7.5, $13, and $27 for potential growth.</li>
</ul>
XRP is nearing crucial price levels on its monthly chart. According to technical analysis by EGRAG Crypto, XRP is trading within an established price range called “Channel B.” From July 2017 to the present, this channel has prevented XRP from closing above certain levels at the end of the month.
XRP is currently trading at <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">$0.5536</a>, up 1.59% in the last 24 hours. Trading volume has jumped 24.5% to $1.43 billion, and market capitalization has increased by 1.64% to $31.37 billion. The current price action suggests a potential breakout, with the price being squeezed at the upper border of the channel. A monthly close within Channel B could trigger a significant price rally.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXelqYjBLq9CGd46uIZos8NXHmboU4K2kPXB4u5OKCE2ANBLAn_fpVUOd0H7ubkHkNFGy57c_paxPp-QtVHEfsOS6FZDV5wfD7lCekSBdeYMaTBifm-xS1Pdf50Vjtmas1kZx65NDDEKVuE6ZatxFrQ0-CQ-?key=PfvOL-cHytp20b6kj5mEAw" alt="">
 <figcaption class="wp-element-caption">
 Source: <a href="https://x.com/egragcrypto/status/1846786350051164162?t=wqQbvzVjzVcDK527bHsQ_w&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">EGRAG</a>
 </figcaption>
</figure>
Resistance targets for <a href="https://coinedition.com/xrp-tests-critical-resistance-can-it-break-out-and-rally/" rel="noopener noreferrer nofollow">XRP</a> are $0.6450, $0.85, and $1.10. These levels act as critical barriers. The midpoint of Channel B, around $0.85, is a key level to watch. If <a href="http://Bitwise Files Updated XRP ETF Registration With the SEC" target="_blank" rel="noopener noreferrer nofollow">XRP</a> breaks above this level, the next target w…
The post <a href="https://coinedition.com/xrp-price-analysis-can-it-break-out-of-channel-b-and-rally-to-1/" rel="noopener noreferrer nofollow">XRP Price Analysis: Can it Break Out of Channel B and Rally to $1?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

XRP Price Analysis: Can it Break Out of Channel B and Rally to $1?

Coin Edition

Other articles published on Oct 17, 2024

Major Moves Expected in Altcoin Projects as U.S. Elections Approach

Largest FOREST Holder Enjoys 40x in Unrealized Profits as FOREST Token Soars 800%

Hong Kong’s 2024 Policy Address Focuses on Financial Innovation and Growth

Italia Naikkan Pajak Keuntungan Kripto, Pasar Eropa Terancam Bergolak

Canary Capital Submits Landmark S-1 Filing for Litecoin ETF with SEC

China’s Multi-Trillion Yuan Bond Issuance Could Propel Crypto Markets

Join our free newsletter for daily crypto updates!