您现在的位置是:XRP’s mini breakout faces bear pressure as bullish momentum fades >>正文
XRP’s mini breakout faces bear pressure as bullish momentum fades
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛4182人已围观
简介Ripple reported a 50% jump in XRP sales in the second quarterThe token has pushed above a consolidat...
Ripple reported a 50% jump in XRP sales in the second quarter
The token has pushed above a consolidation channel, but buyer power is weak
Investors should watch price action at $0.37
Ripple XRP/USD has seen an unprecedented demand lately. A recent report indicated that Ripple sold $409 million worth of XRP tokens in the second quarter. The sales were double that of the previous quarter. That suggested an increase in its On-Demand Liquidity service. The increase in demand could be attributed to investors’ expectations of a price surge. That relates to potential positive outcomes from the case with the SEC.
Despite the second quarter sales, XRP remained in the trenches. It held to a bottom of $0.3 up to mid-July. Ripple attributed the low price of XRP to macro issues and protocol-specific developments. Of course, notwithstanding, the SEC case could go either way.
Still, investors have been optimistic about XRP price recovery. After the price remained in a consolidation zone for nearly 2 months, it broke out on July 30. The breakout occurred after the price pierced through the $0.37 resistance. However, we see this as a mini-breakout as the token has to overcome another tackle at $0.40. That explains why bulls’ power remains weak. However, XRP remains on course for stronger gains and should be on investors’ watch list.
XRP retreats to resistance-turned support after the latest breakout
Source – TradingView
On the daily technical outlook, XRP has touched the $0.37 breakout level after the latest correction. The MACD indicators are bullish on the token, although the momentum is waning. Investors should watch $0.37 for a potential bullish reversal. If XRP breaks below the level, it could slip back to the consolidation zone once more.
Summary
XRP remains in bullish momentum, but bears are pushing the price lower. We need to watch $0.37 for a bullish reversal.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/954918.html
相关文章
Litecoin price outlook: Charts point to a surge due to a possible breakout soon
XRP’s mini breakout faces bear pressure as bullish momentum fadesAfter consolidating after a month Litecoin is on the verge of breaking out and investors can still e...
阅读更多
Latvia’s FCMC Issues Warning On Crypto Frauds
XRP’s mini breakout faces bear pressure as bullish momentum fadesThe FCMC claimed that the high occurrence of fraud made cryptocurrency a risky investment for citize...
阅读更多
Unizen (ZCX) enters a strategic partnership with THORChain (RUNE)
XRP’s mini breakout faces bear pressure as bullish momentum fadesDubai, United Arab Emirates, April 25th, 2023, ChainwireThe team at Unizen, operating the Web3 ecosy...
阅读更多
热门文章
- Japan's SLIM Moon lander counts on sunlight to overcome battery issues
- Market highlights: Bitcoin nears its ATH as Ethereum and Avalanche sets new ATHs
- New battery tech harnesses the weirdness of the quantum
- DigiToads presale surpasses $1.1M amid buzz around meme coin
- New technology enables drones to navigate around obstacles autonomously
- Bitfarms stock still has another 80% upside from here, analyst says
最新文章
DigiToads Meteoric presale growth reminiscent of Stepn and Aptos
Solana price outlook: SOL eyes new run above $220
OKEx Halts Crypto Withdrawals Due to Arrest of Founder
Melker: crypto should meet users where their needs are
Australia’s Select Committee Urges Adoption of Blockchain
Philippines Central Bank will not launch a digital peso soon