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Заголовок Ripple (XRP) is Bullish As long As it Stays Above This Critical Resistance Level: Analyst
Дата 20240920

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Ripple (XRP) is Bullish As long As it Stays Above This Critical Resistance Level:
Analyst

Ripple (XRP) is Bullish As long As it Stays Above This Critical Resistance
Level: Analyst

Author: Dimitar Dzhondzhorov

Last Updated Sep 20, 2024 @ 09:49

Since the April 2017 breakout till today, #XRP has been trending
UP, one popular analyst maintained.

TL;DR

XRP has shown a weekly uptrend, with one analyst noting it has been above a
major
resistance level for over seven years.

Whale activity has increased and could be viewed as a bullish factor for the
asset s potential rally.

XRP Keeps Trending up ?

Despite trailing behind other leading cryptocurrencies in terms of gains,
Ripple s XRP is well in the green on a weekly scale , currently trading
at around $0.59 (per CoinGecko s data). XRP Price, Source: CoinGecko

According to numerous analysts, the token s price is poised for a
further upward trajectory. The X user EGRAG CRYPTO claimed that XRP has been
trading above a major resistance level called Bifrost Bridge for
the past 2,650 days.

For nearly 2,650 days, XRP hasn t closed even HALF of a candle
body or any significant part of it inside the Bifrost Bridge. What does this
mean? It means XRP is in a solid uptrend with strong foundations , not
breaking any structure on the higher time frames. Since the April 2017
breakout till today , XRP has been trending UP , the trader argued.

The analyst believes a bull run is inevitable as long as the asset s
price stays above the $0.28 mark. Everything else is just noisemore
time to accumulate or trade other coins for XRP, just like I m doing
when hitting certain percentage gains, EGRAG CRYPTO added.

For their part, Ash Crypto a popular X user with over one million
followers predicted Ripple s native token to soar to the $3-$5
range in the next six to ten months. The trader also envisioned Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin)
skyrocketing to as high as $250,000 for the same period.

Whales on the Move

XRP s mild price resurgence as of late aligns with increased activity
from whales. X user Ali Martinez revealed that such large investors have
purchased more than 380 million tokens in the past ten days. The stash equals
around $224 million at current rates .

The movement could have a positive impact on XRP s price for two main
reasons. First, it leaves fewer tokens available on the open market, which,
combined with non-declining demand, might trigger a rally (at least
that s what the fundamental principles of the economy dictate).

Second, the whales activity could signal confidence, attract an
additional number of investors into the ecosystem, and raise buying pressure.

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Tags: Ripple Ripple (XRP) Price

============= Итог: 1,3330 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin


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