TRENDING:
US CPI
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Does XRP have the potential to restore itself after a recent fall?

Does XRP have the potential to restore itself after a recent fall?
Denys SerhiichukDenys SerhiichukU.Today

Bears have seized the initiative in the short-term scenario as all of the top 10 coins are under seller pressure again.

Chart

Top coins by CoinMarketCap

XRP/USD

During the day yesterday, the bulls tried to break through to the level of $0.70. But the buying volumes were at an average level, and, as a result, they managed to mark a local maximum only around the $0.68 mark.

XRP

XRP/USD chart by TradingView

At the end of the day, sellers seized the initiative and returned the pair to the average price area. Today the pair is consolidating in a rather narrow range on the POC line ($0.624).

If buyers are persistent, a retest of the target level of $0.70 and a new July high are quite possible.

XRP

XRP/USD chart by TradingView

On the bigger time frame, bulls are also more powerful than bears, with XRP coming back to the zone of the most liquidity where the fall started from. In the event of a breakout, there are good chances of seeing a test of the resistance at $0.70 shortly.

XRP

XRP/USD chart by TradingView

On the daily chart, the picture is also bullish as bulls are about to break the resistance at $0.6790. They might manage to do that as traders are accumulating power based on the low trading volume. If that occurs, the next mark at which bears may show power is $0.80.

XRP is trading at $0.6512 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

More from Denys Serhiichuk
Share:

Editor's Picks

Solana Price Forecast: Mixed market sentiment caps recovery

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.

DeFi platforms Ethena and Polygon eye recovery after sustained downturn

DeFi platforms Ethena and Polygon eye recovery after sustained downturn

Ethena (ENA) is trading around $0.116 on Friday, posting a 6% rise earlier before tapering some of those gains over the past 24 hours. The move comes as ENA investors are down by an average of about 70%.

Aave Labs proposes framework to push all revenue to DAO

Aave Labs proposes framework to push all revenue to DAO

Aave Labs (AAVE) has introduced a new proposal, the Aave Will Win Framework, designed to better align incentives across its ecosystem. The proposal suggests channeling all revenue generated from Aave-branded products directly into the treasury managed by the Aave DAO.

Pi Network Price Forecast: PI bulls resurface at a crucial support level

Pi Network Price Forecast: PI bulls resurface at a crucial support level

Pi Network (PI) is up almost 1% at press time on Friday, extending the 2% gains from the previous day. Renewed buying pressure, evidenced by increased withdrawals from exchanges supporting the PI token, and reduced outflows from the Pi Foundation, adds tailwinds.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: The worst may be behind us

Bitcoin: The worst may be behind us

Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.