Ripple (XRP) continues to hold strong at $0.6. This level is currently on a bear flag from the significant surge of XRP's price up to the $0.8 level.
XRP’s current market cap and circulating supply are $33,108,774,606 and $52,787,284,454, respectively. It is 81.52% below the all-time high of $3.84.
XRP’s price skyrocketed on July 13. after a partial victory in the SEC lawsuit where it was ruled that the offer and sale of XRP tokens on exchanges did not constitute investment contracts.
This week, the market is anticipating a potential surge in XRP’s volatility as major bullish patterns signal a bull run. The golden cross has appeared on the 3-day chart. According to an analyst, this pattern has happened only twice before.
The price is currently trading at a level below the 0.618 Fibonacci retracement level.
Source: X
The 50-day SMA at the $0.54 support and resistance level also signals a bull run. If the price rejects this SMA and also rejects the support and resistance level of $0.54, then the price may change the character and make a run to the upside to retest or maybe break the recent high made last month.
Wayne is a dynamic part-time trader with an impressive eye for detail. His passion for understanding financial systems has led to an intriguing interest in blockchain technology, and he enjoys exploring and writing about cryptocurrencies. Possessing a keen intellect and diligent work ethic, he stays up-to-date on the latest industry trends, regularly sharing his insights in articles and professional presentations.
