• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

XRP Could Start a “Moon Mission” if it Holds One Crucial Level

Cole Petersen by Cole Petersen
2 years ago
in Ripple, Technical analysis
Reading Time: 2 mins read
Advertisement

XRP has seen some mixed price action in recent weeks. After incurring an explosive rally that sent its price surging up towards $0.33 last week, it has been consolidation below its $0.30 support, struggling to garner further strength.

Analysts are noting that this ongoing consolidation phase may simply be the calm before the storm.

One trader is pointing to a plethora of different factors that suggest XRP could be on the cusp of starting its first “moon mission” seen in ages.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Some of these factors include its ability to bounce at its 200-day moving average, which happens to be where it has significant horizontal support as well.

Another analyst is echoing this sentiment, noting that the token’s consolidation beneath its resistance is an incredibly bullish sign that suggests a breakout rally is right around the corner.

XRP Bulls Defend Crucial Support as Analysts Eye Upside 

At the time of writing, XRP is trading up just over 2% at its current price of $0.295.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

This is around where it has been consolidating throughout the past several days, with $0.30 becoming a slight resistance level.

Currently, the lower-$0.30 region is laced with significant resistance, as this is where it faced a sharp rejection when its price peaked at $0.33 last week.

Where XRP trends next may be somewhat dependent on Bitcoin and the aggregated cryptocurrency market, as all the major altcoins are currently caught within consolidation phases.

This may partially be the result of investors beginning to place a heightened focus on smaller altcoins – which have been posting meteoric gains throughout the past few weeks.

Until these tokens cede their momentum, the major digital assets may continue to stagnate.

While speaking about XRP’s current technical outlook, one cryptocurrency analyst explained that he believes it may soon “moon” as it holds above its 200-day moving average and key historical support level.

“XRP Update: Rebuying the 200D MA retest. Confluence with major historical support. Hold it equals moon. It’s that simple,” he explained.

XRP

Image Courtesy of Pentoshi. Chart via TradingView.

This Technical Pattern Could Propel the Token Significantly Higher

In addition to holding above its key moving average and horizontal support, XRP is also forming a classic bull pattern as it consolidates beneath resistance.

While speaking about this, one analyst explained that he is expecting it to see an imminent breakout in the days ahead.

“XRP consolidating under resistance, expecting a nice breakout soon,” he said.

Image Courtesy of Gat. Chart via TradingView.

How XRP trends in the coming days will likely have a major impact on its macro outlook.

Featured image from Unsplash.
Charts from TradingView.
Tags: XRPBTCXRPUSDxrpusdt
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Ethereum

TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100

5 hours ago
Bitcoin

TA: Bitcoin Recovers Sharply, Why BTC Could Still Struggle Above $20,500

7 hours ago
Ethereum

TA: Ethereum Key Indicators Suggest A Sharp Drop Below $1K

1 day ago
Bitcoin

TA: Bitcoin is Plunging, But It’s Too Early to Say Bulls Have Given Up

1 day ago
Bitcoin bear

Holding Back The Bears: Why Bitcoin Must Break $22,500

2 days ago
Ethereum

TA: Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.2K

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

Crypto News Flash: Best Meme Coins to Explore in Bear Market 2022 – Floki Inu (FLOKI), Akita Inu (AKITA) and RoboApe (RBA)

June 30, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.