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XRP Analysis – December 23, 2024Hello, this is Greedy All-Day. Today's chart analysis is on XRP. Daily Chart Overview: Looking at the daily chart of XRP, we can see that since December 1, 2024, the chart has been forming a pennant pattern. As per the pattern's characteristics, we should look for either a breakout above resistance or a breakdown below support. Until that happens, the general approach is to remain on the sidelines during the consolidation phase. Currently, the price is still within the pattern, so there is no clear direction yet. Although we’re seeing some correction, we cannot call this a full correction just yet, as the consolidation may simply be a brief pause before a potential continuation of the upward move. The concern is the red box area, where the Lagging Span (or Lagging Line) is about to break through the candles. If this occurs, the Lagging Span may face resistance from the candles above. For the trend to continue upwards, we need the price to stay above the middle of the pattern. If not, we might see a weakening of buying pressure. Risk of a Pennant Breakdown: If XRP breaks down below the pennant pattern, the next support level to watch is at 1.847. Should this level also be broken, it could complete a descending triangle, with a target around 58% lower. As you can see, this is close to a key resistance level from the previous upward movement. Therefore, breaking below 1.847 is critical. Further Historical Data Analysis: Looking at more historical data on the daily chart, we can see that XRP previously broke above a major resistance level (the red box) and tested it as support before rebounding. However, if XRP breaks below 1.847, it will likely enter a consolidation phase after completing a new pattern. In the past, the next frame showed a significant drop toward 0.766 after a similar strong rise. This suggests that a sharp decline is highly likely if the current breakout fails to hold. This analysis highlights the current critical levels for XRP. The next steps depend on whether the price can maintain its position above support or if a breakdown occurs, potentially leading to a more significant drop. Conclusion: In summary, XRP is currently in a pennant pattern, and we need to watch for a breakout above resistance or a breakdown below support. While there’s still potential for an upward move, the key levels to watch are 1.847 and the red box area. A breakdown below 1.847 could lead to a significant decline, potentially completing a descending triangle with a target lower than the current price. It’s crucial to wait for clear price action before taking action, as the market is still uncertain. If the price breaks lower, we could see a strong correction, but if it holds support and resumes the upward trend, it could be an opportunity for further gains.
by Greedy_allday
XRP in positive consolidationXRP is consolidating as it tests key support levels. I created a bullish wedge at the beginning of December, and XRP broke above and below the wedge. On December 18, XRP broke below the upward trendline, signaling a price correction or a consolidation period that might drag out longer than expected. The On Balance Volume (OBV) shows that XRP faces high buying pressure, signaling positive sentiment to push XRP to resistance levels. The Chaikin Money Flow (CMF) shows that XRP spiked in buying pressure today at 0.43 (OBV) above the zero line, locking in positions that will keep XRP in the fight to consolidate around a price average of $2.42.I posted a Fib Retracement to indicate a buying zone if XRP breaks below support levels. Fundamental analysis - In this idea, I'm looking at a more volume-based analysis for XRP because its exposure has been rocketing lately, bringing in new partnerships, institutions, and retail. The market has been bearish lately with its recent nose dive, but XRP looks to be handling it well. Resistance - $2.90 Support - $1.70 Chart - 12hr What will I be doing? Dollar-cost average. Fear and Greed Index (CoinMarketCap) - Neutral 59
BITSTAMP:XRPUSDLong
by LOWCO_487
1
Xrp - The New +400% Bullish Triangle!Xrp ( CRYPTO:XRPUSD ) is creating another bullish triangle: Click chart above to see the detailed analysis👆🏻 Despite the recent rally of +300% on Xrp, this crypto coin is still totally bullish. However at the moment, Xrp is starting to reject a quite significant all time high resistance level. We could see another drop lower from here before bulls will take over again and eventually create new highs. Levels to watch: $2.0, $10.0 Keep your long term vision, Philip (BasicTrading)
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by basictradingtv
23
XRP LONG TO ATHs! Ripple XRPUSD RLUSD XRP is Bullish to $4 at the very minimum. We successfully completed our retrace down to $1.95 to the dot. Expecting that to be our final support area and to start seeing consolidation, and upwards momentum. Media hype hasn't started yet, BTC is losing market dominance similar to 2017 2018. We are on the verge of another Diamond Hands bull run. Make sure to take some profits when emotions are hitting super dopamine levels of euphoria. The final pump happens fast and retraces even faster. The volatility will be insane. Well keep tabs on this as the weeks go by. Good luck you beauties!
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by Schploop
$2.45 Zone: XRP’s "Make-or-Break" Moment!XRP is poised to retest the crucial $2.45 zone, a pivotal level that could define its next major move. 1. Bullish Breakout: If XRP decisively breaks above $2.45, the next challenge will be at $2.59 (dashed green projection). A successful breakout here would confirm strong buying momentum, paving the way for a push toward $2.82. This level marks the last significant resistance before XRP’s new all-time high, making it a key target for bullish traders (solid green projection). 2. Bearish Scenario: Failure to break bullishly through $2.45 could signal a continuation of bearish sentiment. In this case, XRP is likely to drop toward $2.19 or slightly below, a critical support zone (dashed red projection). 3. Deeper Correction: A breakdown below $2.19 could intensify selling pressure, driving the price further down toward $1.88. This level may offer a potential entry point for long positions, as it represents a strong support area (red projection).
BITSTAMP:XRPUSD
by Trade-Lean
Xrp - Another +100% Pump Is Starting!Xrp ( CRYPTO:XRPUSD ) is sill just getting started: Click chart above to see the detailed analysis👆🏻 Xrp is so far perfectly following the repetition of cycles after we saw a beautiful breakout candle of November with an insane move of +280%. Looking at previous behaviour, it is now actually very likely that Xrp breaks the previous all time high and continues its strong rally. Levels to watch: $3.0, $5.0 Keep your long term vision, Philip (BasicTrading)
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by basictradingtv
46
XRPUSD Take this correction as an opportunity to buy to $7.00XRPUSD is correcting violently today after Powell's remarks on just 2 rate cuts in 2025 against the previous expectation of 4. This is however still a correction within the technical limits of the huge rally that XRP had since the U.S. elections. Don't let this distract you from the longer picture. This Bull Cycle is still identical to 2017. Symmetrically, we are just on the 0.382 Fibonacci Resistance, which is where XRP corrected in April 2017 and then once the pullback finished, rebounded to the next Resistance, the 0.618 Fib. Buy and target $7.00 (the 0.618 Fib). Previous chart: Follow us, like the idea and leave a comment below!!
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by TheCryptagon
1
Ripple Is Still Eyeing All-Time HighsRipple is in strong and impulsive rise after we spotted a bullish break out of a larger weekly bullish triangle pattern. It's actually already at 2.9 area and there can be easily space up to 3.3 all-time highs area. Looking at the 4-hour time frame, we saw a nice extension higher within wave (3), so after current wave (4) correction that can be completed as a nice and clean A-B-C flag pattern with textbook support from 2021 highs, be aware of another push to the upside for (5). Just in case if Ripple stay sideways for a longer period of time, then we might even consider a bullish triangle pattern in wave (4), but sooner or later we can expect further rally within wave (5) towards all-time highs area. Why XRP Is higher? The reason for this push higher on ripple, which has been outperforming in the last few weeks, is the upcoming launch of Ripple USD (RLUSD). Ripple USD (RLUSD) is a new stablecoin aimed at bridging blockchain and traditional finance. "Designed for enterprise use, RLUSD focuses on stability, efficiency, and transparency, enhancing Ripple’s cross-border payments and meeting the demand for USD transactions".
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by ew-forecast
My TOP10 project list - pick number 9/10We have had an intermediate top at 1.63 $ (which is up 200% in 30 days). As I have said in my previous post: this is just the beginning of a major run. We corrected to the 1.27$ which is a healthy correction. However XRP is already rebounding strong. Make no mistake: corrections will be shallow and surprises will be to the upside. Actually most people are mocking XRP and XLM as "rhyno coins" and have no clue about their fundamentals. Let them mock our investment and watch how their jaws will be dropping in front of the life changing moves these tokens will be doing. Our time has come.
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by Dangermousebanana
2
XRP Price Analysis: Key Levels to Watch for the Next MoveXRP is currently navigating a key level near $2.45, with market participants closely observing its behavior around this region. The price action suggests a moment of consolidation, which could serve as a launchpad for the next decisive move. A potential rejection around $2.45, followed by a bounce from $2.40 or higher, would indicate that bulls remain active, potentially driving the price toward $2.59 and then targeting $2.82. Such a scenario would confirm bullish sentiment and open up opportunities for further gains (Green Projections) Conversely, a failure to sustain above $2.40 could expose the market to downside risks with slow down of the momentum, with $2.19 acting as the next significant intraday support. A break below this level may accelerate bearish momentum, pushing the price toward $1.82 (Red Projection). Traders should remain vigilant and consider multiple scenarios as XRP approaches these critical levels. Whether it continues its upward journey or faces a corrective pullback, the next moves are likely to define its medium-term trajectory.
BITSTAMP:XRPUSD
by Trade-Lean
XRP's Bullish Outlook: Flag Pattern Signals New Potential TargetXRP, the native cryptocurrency of the Ripple network, has been making significant strides in the cryptocurrency market. The recent price action has formed a classic bullish continuation pattern, known as a flag pattern, which suggests that the token may be poised for a substantial rally towards the $15 price target. Understanding the Bull Flag Pattern A bull flag pattern is a technical analysis chart pattern that indicates a potential continuation of an uptrend. It consists of a sharp upward move, followed by a period of consolidation, which resembles a flagpole and a flag, respectively. In the case of XRP, the sharp upward move occurred earlier this year, and the subsequent consolidation phase has formed the flag portion of the pattern. If the price breaks above the flag's resistance level, it could signal a resumption of the uptrend, potentially leading to a significant price increase. Factors Driving XRP's Bullish Momentum Several factors are contributing to XRP's bullish outlook: 1. RLUSD Stablecoin Launch: The imminent launch of Ripple's RLUSD stablecoin is a major catalyst for XRP's price. This stablecoin is expected to increase the utility of XRP within the Ripple ecosystem, driving demand for the token. 2. Institutional Adoption: Ripple's growing partnerships with financial institutions around the world are boosting the adoption of XRP. As more institutions integrate XRP into their payment solutions, the demand for the token is likely to increase. 3. Positive Market Sentiment: The overall positive sentiment in the cryptocurrency market is also benefiting XRP. As investors seek out high-potential cryptocurrencies, XRP has emerged as a strong contender. 4. Technical Analysis: The bullish flag pattern and other technical indicators suggest that XRP's price could continue to rise. Potential Risks and Considerations While the bullish outlook for XRP is promising, it's important to consider the potential risks: • Regulatory Uncertainty: Regulatory challenges, particularly in the United States, could impact XRP's price. • Market Volatility: The cryptocurrency market is highly volatile, and sudden price swings can occur. • Economic Factors: Global economic conditions, such as interest rate hikes and inflation, can influence the cryptocurrency market. Despite these risks, XRP's strong fundamentals, coupled with the positive market sentiment and the upcoming RLUSD stablecoin launch, position the token for significant growth in the coming months. Investors should conduct thorough research and consider consulting with financial advisors before making investment decisions.
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by bryandowningqln