Long

XRP LONG 0.75$ and 1.15$ are on the Radar

Updated

XRP price prediction, the value of XRP is predicted to drop by -2.25% and reach $ 0.479326 by July 8, 2023. According to our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 62 (Greed). XRP recorded 17/30 (57%) green days with 3.88% price volatility over the last 30 days. Based on our XRP forecast, it's now a good time to buy XRP.

XRP price today is $ 0.489242 with a 24-hour trading volume of $ 2.56B, market cap of $ 25.56B, and market dominance of 2.08%. The XRP price increased 1.12% in the last 24 hours.

XRP reached its highest price on Jan 4, 2018 when it was trading at its all-time high of $ 3.92, while XRP's lowest price was recorded on Jul 7, 2014 when it was trading at its all-time low of $ 0.002802. The lowest price since it's ATH was $ 0.113268 (cycle low). The highest XRP price since the last cycle low was $ 1.977930 (cycle high). The XRP price prediction sentiment is currently bullish, while Fear & Greed Index is showing 64 (Greed).
XRP's current circulating supply is 52.25B XRP out of max supply of 100.00B XRP. The current yearly supply inflation rate is 13.26% meaning 6.12B XRP were created in the last year. In terms of market cap, XRP is currently ranked #4 in the Layer 1 sector.

Trend bullish
higher pocs
divergence
RSI trend continuation is positive

The bullish sentiment is +86%
Comparing XRP against other important technological innovations and trends is one way of predicting where the XRP price could head over the long term. The table above shows what the XRP price would be by end of year 2024, 2025, and 2026 if its growth trajectory followed the growth of the internet, or large tech companies like Google and Facebook in their growth phase.

In the best case scenario, XRP price prediction for year 2026 is $ 9.05 if it follows Facebook growth. In case XRP would follow Internet growth the prediction for 2026 would be $ 1.037854.

XRP is currently trading above the 200-day simple moving average (SMA). The 200-day SMA has been signaling BUY for the last 48 days, since May 16, 2023.

The price of XRP is currently above the 50-day SMA and this indicator has been signaling BUY for the last 2 days, since Jul 01, 2023.

The most recent Death Cross in the Bitcoin market happened 192 days ago, on Dec 23, 2022. Meanwhile, a Golden Cross last occurred on Apr 03, 2023, which was 91 days ago.
Based on our technical indicators, XRP's 200-day SMA will rise in the next month and will hit $ 0.466289 by Aug 02, 2023. XRP's short-term 50-Day SMA is estimated to hit $ 0.461511 by Aug 02, 2023.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 53.43, which indicates that the XRP market is in a neutral position.

S1 $ 0.471781
S2 $ 0.458633
S3 $ 0.446728

R1 $ 0.496833
R2 $ 0.508737
R3 $ 0.521886

Highlights
Price has increased by 52% in the last 1 year
Outperformed 80% of the top 100 crypto assets in 1 year
Trading above the 200-day simple moving average
18 green days in the last 30 days (60%)
Has high liquidity based on its market cap
Trading on Binance
Trading with Euro

Risk Analysis
Outperformed by Bitcoin and Ethereum
Down -87% from all-time high
Yearly inflation rate is 13.26%

XRP price is positively correlated with the top 10 coins by marketcap with a value of 0.140, excluding Tether (USDT) and positively correlated with the top 100 coins by marketcap excluding all stablecoins with a value of 0.128.

Currencies that are positively correlated with XRP indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with XRP, a move in one direction for XRP would translate into a move in the opposite direction for the negatively correlated coin.

XRP Price Forecast

Date Price Change
Jul 4, 2023 $ 0.487750 -0.54%
Jul 5, 2023 $ 0.493399 0.62%
Jul 6, 2023 $ 0.473601 -3.42%
Jul 7, 2023 $ 0.493554 0.65%
Jul 8, 2023 $ 0.479326 -2.25%
Jul 9, 2023 $ 0.484505 -1.20%
Jul 10, 2023 $ 0.442919 -9.68%
Jul 11, 2023 $ 0.461829 -5.82%
Jul 12, 2023 $ 0.473853 -3.37%
Jul 13, 2023 $ 0.488465 -0.39%
Jul 14, 2023 $ 0.468111 -4.54%
Jul 15, 2023 $ 0.442248 -9.81%
Jul 16, 2023 $ 0.439206 -10.43%
Jul 17, 2023 $ 0.436434 -11.00%
Jul 18, 2023 $ 0.437612 -10.76%
Jul 19, 2023 $ 0.447480 -8.75%
Jul 20, 2023 $ 0.442908 -9.68%
Jul 21, 2023 $ 0.453327 -7.56%
Jul 22, 2023 $ 0.463789 -5.42%
Jul 23, 2023 $ 0.446259 -9.00%
Jul 24, 2023 $ 0.443146 -9.63%
Jul 25, 2023 $ 0.439622 -10.35%
Jul 26, 2023 $ 0.433597 -11.58%
Jul 27, 2023 $ 0.431139 -12.08%
Jul 28, 2023 $ 0.431371 -12.03%
Jul 29, 2023 $ 0.420295 -14.29%
Jul 30, 2023 $ 0.429755 -12.36%
Jul 31, 2023 $ 0.422158 -13.91%
Aug 1, 2023 $ 0.437131 -10.86%
Aug 2, 2023 $ 0.436228 -11.04%

Note

Wall Street Edges Higher on Shortened Monday Session

Note

Wall Street Ends in the Green

The Dow Jones closed more than 209 points higher on Monday, while the S&P 500 and the Nasdaq added 0.2% each, as investors awaited the US consumer and producer inflation reports later this week and braced for the start of the second quarter earnings season. The upcoming inflation report is expected to offer additional evidence regarding inflationary pressures and provide insights into the Federal Reserve's future actions. Traders are currently pricing in a nearly 92% chance for a 25bps increase in the fed funds rate this month, but the odds for another quarter point hike later in the year have been swinging, currently standing at 22% for September and 33% for November. Healthcare shares were among top performers of the session including Amgen (+2.5%). Also, Inter (+2.8%), Honeywell (+2.2%) and Home Depot (2.5%) outperformed while mega cap shares dragged as Apple (-1.1%), Tesla (-1.7%), Microsoft (-1.6%), Alphabet (-2.5%) and Amazon (-2%) ended in the red.

Note

US 10-Year Treasury Yield Down for 2nd Session

The yield on the US 10-year Treasury note fell below 4%, retreating for the second consecutive session after hitting its highest since November 2022 at almost 4.1% as investors turned cautious ahead of key economic data that could influence the Federal Reserve’s next interest rate policy moves. The CPI report on Wednesday is expected to show headline annual inflation fell to 3.1% in June from 4% in the previous month, while the core index probably decreased to 5% from 5.3%. Markets are now pricing in a 94.9% chance of rates being hiked again during the central bank’s upcoming meeting on July 25-26 but uncertainty remains for the other three Fed meetings scheduled for later in the year. In the latest Fed commentary, Fed President Mary Daly said that she expects two further rate hikes to be announced this year to lower inflation, in line with early comments from Fed Chairman Jerome Powell.

Americans Become More Pessimistic in July
The IBD/TIPP Economic Optimism Index in the US unexpectedly fell to 41.3 in July 2023, the lowest since November last year, compared to 41.7 in June and market forecasts of 45.3. It also marks a 23rd month the reading stands below 50, indicating Americans remain pessimistic. “The economy continues to be the number one issue for Americans as we prepare for earnings season and new inflation data. The Six-Month Economic Outlook was the lone bright spot for July, as optimism slightly increased for the long-term, but it’s still a long way from positive. Expect some more twists and turns before consumers trust that the economy has stabilized”, said Ed Carson, IBD's news editor. The Personal Financial Outlook, a measure of how Americans feel about their own finances in the next six months, fell to 50 from 51.9 and the gauge for Confidence in Federal Economic Policies edged lower to 38.5 from 38.6. On the other hand, the Six-Month Economic Outlook rose to 35.5 from 34.5.

Note

Wall Street Extends Gain Ahead of CPI Data
US stocks closed higher on Tuesday, extending gains for the second session, as investors looked forward to the key inflation report due tomorrow. The Dow Jones finished over 316 points higher, as Salesforce rose 3.9% after the company announced it will be increasing list prices an average of 9% in August. 3M and Boeing were also among the top performers and advanced by 4.8% and 2.6%, respectively. The S&P 500 gained nearly 0.7%, led by the energy sector as APA (+6.3%), Halliburton (+4.2%) and Schlumberger (+4.5%) outperformed. Meanwhile, the Nasdaq added 0.5%. Traders were also digesting comments from several Fed officials which continued to point to the need of further tightening this year. The odds for a 25bps increase in the fed funds rate this year currently stand at 95%, but investors remain divided about another rate hike. The economic calendar is soft today and the earnings season kicks off later in the week.

Note

The greenback is approaching a make-or-break moment — at least as far as a closely watched technical indicator is concerned.

The Bloomberg Dollar Index has now surrendered more than 61.8% of its gains since May 2021, bringing it to one of the Fibonacci retracement levels popular among chart watchers. They tend to keep a close eye on these indicators to determine whether or not trends will extend or reverse.

What happens next is therefore crucial.

If the index remains below this point over the coming sessions, it would be a strong signal to traders that the currency’s losses are the beginning of a new longer-term downtrend, and not just an aberration.

The latest bout of weakness comes as the market now sees an end to a tightening spree that Federal Reserve officials begun communicating more than two years ago. The prospect is narrowing interest-rate differentials with other major currencies and weighing on the dollar.

This week, it dropped to the weakest level against euro and pound since early 2022. It’s even falling out of favor against the yen — where rates are still negative — with the cross falling to a two-month low.

The bearish signal seen in the chart of the Bloomberg Dollar Index could be soon validated elsewhere too. The ICE Dollar Index — a popular alternative to the BBDXY — stands just 0.6% higher than the 61.8% Fibonacci retracement of a rally that kicked off in January 2021.

To be sure, options paint a more mixed picture. While long-term bets are supportive of the US currency’s prospects, sentiment over a one-month sentiment has reached its least bullish level since September 2020.

Note

USDJPY BULLISH WILL Go to 180 Yen
LONG
the Bank of Japan is unlikely to increase its ultra-loose policy rate until Governor Kuroda's term expires in the first quarter of 2023.

A break below 124is the start of bearish trend.

Technical: BULLISH
STRATEGY
BUY THE CORRECTION
Higher Highs
Higher Lows

Fundamentals:

See my previouse USDJPY trade ideas.All Tades are active, and a lot of fundamental explanations of USDJPY. Read them.Undestand them,then you can mae good trades.

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Note

Week Ahead - July 17th

Next week, investors will focus on the earnings results from major US companies, such as Bank of America, Morgan Stanley, Goldman Sachs, IBM, Netflix, Tesla, and Johnson & Johnson. Additionally, it will be interesting to monitor retail sales, industrial production, and housing data, including existing home sales, housing starts, and building permits. In other news, China is set to release Q2 GDP growth, retail sales, industrial production, and fixed asset investments. Markets will also be attentive to inflation rates in the United Kingdom, Canada, Japan, New Zealand, and South Africa. Furthermore, the central banks of Turkey and South Africa will make decisions regarding monetary policy, Australia will publish the unemployment rate, and the UK and Canada will release retail sales data.

Note

China New Home Prices Flatten in June

Average new home prices in China's 70 major cities were flat year-on-year in June 2023 after edging up 0.1 percent in the previous month. Among the biggest Chinese cities, prices increased in Beijing (3.5% vs 4.3% in May), Chongqing (0.6% vs 1.3%), Shanghai (4.8% vs 4.9%), and Tianjin (0.2% vs -0.3%). By contrast, cost fell in both Shenzhen (-2.4% vs -0.2%) and Guangzhou (-0.8% vs -0.4%). On a monthly basis, new home prices were unchanged, the weakest result so far this year, as as broad efforts from Beijing have not revived the ailing prope

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trade is open

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Trade is open

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Trade open
Bought today more .New Buy Signal

DaveBrascoFX

youtube.com/@DavyBrasco-Official-Channel/videos

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