{"id":8321,"date":"2024-09-20T09:49:43","date_gmt":"2024-09-20T09:49:43","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8321"},"modified":"2024-09-20T09:49:43","modified_gmt":"2024-09-20T09:49:43","slug":"ripple-xrp-is-bullish-as-long-as-it-stays-above-this-critical-resistance-level-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8321","title":{"rendered":"Ripple (XRP) is Bullish As long As it Stays Above This Critical Resistance Level: Analyst"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

XRP has shown a weekly uptrend, with one analyst noting it has been above a major resistance level for over seven years.<\/span>
\nWhale activity has increased and could be viewed as a bullish factor for the asset\u2019s potential rally.<\/p>\n

<\/a><\/h2>\n

XRP Keeps Trending <\/span>up<\/span>?<\/span><\/h2>\n

Despite trailing behind <\/span>other<\/span> leading cryptocurrencies in terms of gains, Ripple\u2019s XRP is well in the green <\/span>on a weekly scale<\/span>, currently trading at around $0.59 (per CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

According to numerous analysts,<\/span> the token\u2019s price is poised for a further upward trajectory.<\/span> The X user EGRAG CRYPTO <\/span>claimed<\/span><\/a> that XRP has <\/span>been trading<\/span> above a <\/span>major<\/span> resistance level called \u201cBifrost Bridge\u201d for the past 2,650 days.\u00a0<\/span><\/p>\n

\u201cFor nearly 2,650 days, XRP hasn\u2019t closed even HALF of a candle body or any significant part <\/span>of it<\/span> inside the Bifrost Bridge. What does this mean? <\/span>It<\/span> means XRP is in a solid uptrend with strong foundations<\/span>, <\/span>not breaking any structure <\/span>on<\/span> the higher time frames.<\/span> Since the April 2017 breakout <\/span>till today<\/span>, XRP has been trending <\/span>UP<\/span>,\u201d the trader argued.<\/span><\/p>\n

The analyst believes a bull run is inevitable <\/span>as long as<\/span> the asset\u2019s price stays above the $0.28 mark. \u201cEverything else is just noise\u2014more time to accumulate or trade other coins for XRP, just like I\u2019m doing when hitting certain percentage gains,\u201d EGRAG CRYPTO added.<\/span><\/p>\n

For their part, Ash Crypto<\/span> \u2013 <\/span>a popular X user with over one million followers<\/span> \u2013 <\/span>predicted<\/span><\/a> Ripple\u2019s native token <\/span>to<\/span> soar to the $3-$5 range in the next six to ten months.<\/span> The trader also envisioned Bitcoin (BTC) skyrocketing to as high as $250,000 for the same period.<\/span><\/p>\n

Whales on the Move<\/span><\/h2>\n

XRP\u2019s mild price resurgence <\/span>as of late<\/span> aligns with increased activity from whales. X user Ali Martinez <\/span>revealed<\/span><\/a> that such large investors have purchased more than 380 million tokens in the past ten days. <\/span>The<\/span> stash equals around $224 million <\/span>at current rates<\/span>.<\/span><\/p>\n

The movement could have a positive impact on XRP\u2019s 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\u2019s what the fundamental principles of the economy dictate).<\/span><\/p>\n

Second, the whales\u2019 activity could signal confidence, attract <\/span>an additional number of<\/span> investors into the ecosystem, and raise buying pressure.<\/span><\/p>\n

The post Ripple (XRP) is Bullish As long As it Stays Above This Critical Resistance Level: Analyst<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

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\u2019s potential rally. XRP Keeps Trending up? Despite trailing behind other leading cryptocurrencies in terms of gains, Ripple\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":8322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8321"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8321"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8322"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}