Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
XRP Unable to Break Out Despite Recent Push to $0.63, What’s Next? (Ripple Price Analysis)

XRP Unable to Break Out Despite Recent Push to $0.63, What’s Next? (Ripple Price Analysis)

CryptopotatoCryptopotato2024/03/22 16:07
By:CryptoVizArtMore posts by this author

After a notable surge, Ripple’s price has successfully broken above the upper trendline of a multi-month triangle pattern, indicating a bullish signal. However, the recent retracement suggests a potential pullback to the broken level.

XRP Analysis

By Shayan

The Daily Chart

A detailed analysis of the daily chart highlights Ripple’s surge as it surpassed a crucial resistance area represented by the dynamic upper boundary of the triangle pattern, reaching a significant resistance level at $0.74. This breakout underscores the presence of buyers in the market.

However, the price encountered a notable rejection near the $0.74 resistance, leading to a consolidation correction stage toward the triangle’s broken threshold. Many participants view this retracement as a temporary pullback to the triangle’s upper boundary. Should the price complete this pullback, Ripple is expected to initiate a fresh rally, targeting a new yearly high above $0.74.

Nevertheless, Ripple’s price appears to be confined within a critical range, delineated by the $0.74 crucial resistance and the $0.56 significant support region in the mid term until a breakout occurs.

The 4-Hour Chart

A closer examination of the 4-hour chart reveals a significant rejection following a surge towards the $0.74 region, resulting in a noteworthy 23% decline in Ripple’s price. However, the cryptocurrency found support upon reaching the crucial $0.56 price region, potentially halting the recent downward correction.

Nonetheless, Ripple’s price is expected to remain within the substantial $0.57 support region and the notable $0.74 resistance level, implying the possibility of prolonged consolidation within this pivotal range until a breakout occurs. A breach above the $0.74 threshold would shift focus toward the $0.80 resistance level as the next focal point for Ripple’s price trajectory.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

SEI Price Chart Shows Growth, Tron Pushes Network Upgrades, but BlockDAG’s $410M Presale Ranks as the Best Crypto Right Now

Explore SEI price growth, review Tron (TRX) trends, and discover how BlockDAG’s $410M presale momentum secures its place as the best crypto right now.BlockDAG: A Mining-First Path to GrowthSEI Price Chart Reflects Weekly GrowthTron Market Review Shows Steady ProgressSumming Up

Coinomedia2025/09/21 00:06
SEI Price Chart Shows Growth, Tron Pushes Network Upgrades, but BlockDAG’s $410M Presale Ranks as the Best Crypto Right Now