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Breaking News: OG Bitcoin Whales Dumping Assets: Chart Reveals Significant Sell-Off Activity

XRP Price Prediction – Indicators Suggest Fresh Bull Run If XRP Clears $0.642

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 2:31 pm
2 mins read
Ripple (XRP)

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XRP price started a downside correction and tested $0.572. The price is now rising and might gain bullish momentum if it clears $0.642.

  • XRP started a downside correction below $0.650 and $0.620.
  • The price is now trading below $0.640 and the 100 simple moving average (4 hours).
  • There was a break above a major bearish trend line with resistance near $0.608 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair start a fresh rally if it clears the $0.642 resistance zone.

XRP Price Holds Key Support

After facing rejection near the $0.740 zone, XRP started a fresh decline. There was a move below the $0.70 and $0.650 support levels. The price even dived below the $0.60 support, underperforming Bitcoin and Ethereum.

Finally, the bulls took a stand near $0.572. A low was formed near $0.572 and the price is now attempting a fresh increase. There was a move above the $0.600 resistance. There was a break above a major bearish trend line with resistance near $0.608 on the 4-hour chart of the XRP/USD pair.

The price is now testing the 23.6% Fib retracement level of the downward move from the $0.7499 swing high to the $0.5723 low. On the upside, immediate resistance is near the $0.615 level.

The first major resistance is near the $0.642 zone or the 100 simple moving average (4 hours). It is close to the 50% Fib retracement level of the downward move from the $0.7499 swing high to the $0.5723 low. A close above the $0.642 resistance zone could spark a steady increase.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The next key resistance is near $0.682. If the bulls remain in action above the $0.682 resistance level, there could be a rally toward the $0.720 resistance. Any more gains might send XRP toward the $0.750 resistance.

Another Decline?

If XRP fails to clear the $0.642 resistance zone, it could start a fresh decline. Initial support on the downside is near the $0.588 zone.

The next major support is at $0.572. If there is a downside break and a close below the $0.572 level, XRP price might accelerate lower. In the stated case, the price could retest the $0.540 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now just above the 50 level.

Major Support Levels – $0.588, $0.572, and $0.540.

Major Resistance Levels – $0.615, $0.642, and $0.682.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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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

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