Market

Market rally, here are the top levels to look out for in XRP

The crypto market has bounced back from yesterday’s lows. XRP responded to the move when it bounced off the $ 0.68 support. It is currently trading at $ 0.77.

Important levels

XRP has formed a symmetrical triangle pattern on the 3-day chart showing indecision between buyers and sellers. It is currently near the triangle’s support line.

The token could decline if volume faltered, towards the 61.8% fib retracement level at $ 0.75 and then the June 30th high at $ 0.71.

If selling pressure continues to mount, XRP price may drop to the 78.6% fib retracement level at $ 0.68 before hitting the 200 SMA (three day frame) at $ 0.65, which is in line with the support line of the Pattern coincides.

A surge in sell orders could put XRP below the support line of the symmetrical triangle and close to the 24th low.

XRP / USDT 3-day chart | Source: TradingView

However, if the bulls manage to reverse the period of underperformance, XRP price will encounter its first resistance at the 50% fib retracement level ($ 0.80). Additional buying pressure will help reach the 38.2% Fib retracement level at $ 0.85 and then the 23.6% Fib retracement level at $ 0.91, which is consistent with the 21 SMA (three- Days frame).

Larger efforts with an increase in buy orders will push XRP to the 100 SMA (three day frame) at $ 0.98 and then to the 50 SMA (three day frame) at $ 1.02. The rally to the ripple could be strong if the bulls manage to break the resistance line of the pattern at $ 1.13.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.