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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

XRP Price Holds Above $2.47, But Bulls Struggle To Gain Control

Semilore Faleti
Semilore Faleti
7 months ago
3 mins read
XRP

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The XRP market experienced a rather turbulent trading week resulting in a net loss of 7.22%. While the altcoin has shown some stability over the past day, there is no indication of price recovery. Amid these developments, X digital asset analysis handle More Crypto Online has shared some market updates highlighting important price levels for the XRP market.

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7 months ago

XRP Bulls Await Breakout Confirmation As Market Remains Neutral

In a new X post on February 22, More Crypto Online provides an intriguing XRP price analysis identifying the needed conditions for a bullish or bearish development. According to these analysts, XRP is currently in neutral consolidation range indicating neither bulls nor bears are welding market control.

Based on the Elliot Wave Theory, it is understood the altcoin is holding well above the critical price of $2.47 which allows a bullish orange scenario to remain viable. XRP enthusiasts must avoid any decisive price fall below this support level which could activate a yellow bearish scenario.

XRP
Source: @Morecryptoonl on X

In this case, XRP could slide into a downtrend with potential support levels identified at $2.34, $2.22, $2.11, and $1.95. On the other hand, aside from staying above $2.47,  More Crypto Online states that market bulls must force a price surge above the $2.75 resistance zone to confirm any bullish breakout. Thereafter, XRP could surge to above $3.30.

Interestingly, fellow analyst Egrag Crypto presents a higher validation point for the XRP bullish case, stating a monthly close above $3.00 is needed to show sufficient buying pressure for a sustained uptrend. As reported by NewsBTC, this development would pave the way for a new all-time high of around $6.00.

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7 months ago

XRP Market Overview: Time To Hodl?

At press time, XRP trades at $2.56 reflecting a 0.84% in the past day. Meanwhile, the altcoin’s monthly losses have now increased to 16.18%. XRP has failed to struggle to regain its bullish form from November 2024 due to multiple factors including widespread market uncertainty.

However, data from CoinMarketCap reflects that the altcoin community remains largely bullish with expectations of long-term profitability. This optimism can be attributed to factors such as the growing potential of XRP Spot ETF amidst strong investor confidence in the new US administration’s pro-crypto approach.

Interestingly, this policy change has shown significant rewards as the US Securities and Exchange Commission (SEC) abruptly withdrew its lawsuit against Coinbase Exchange. If a similar development occurs in the Commission’s case against Ripple, it could translate into a major bullish driver for the XRP market.

XRP
XRP trading at $2.54 on the daily chart | Source: Tradingview.com
Featured image from iStock, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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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.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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