Fun

XRP Network Activity Surges As Price Seeks To Break $0.55 Resistance

News Feed - 2024-10-22 06:10:06

Este artículo también está disponible en español.


The entire crypto market is enjoying a strong surge, yet XRP has been lagging, remaining stuck below the crucial $0.55 level since the start of October. Analysts and investors are closely watching for signs of strength and confirmation that XRP is poised for significant gains in this market cycle. 


Key data from Santiment offers a glimmer of optimism. It shows a notable spike in active wallets on the XRP Ledger, which could signal growing interest and accumulation. Related Reading Dogecoin Breaks Above $0.12 Level – Time For DOGE To Catch Up? 1 day ago


As the broader market continues to push higher, the coming days are pivotal for XRP. Investors hope for a breakout from the weeks of sideways consolidation that have kept its price action subdued. 


A decisive move above $0.55 could ignite bullish momentum and put XRP on track to catch up with the broader market rally. For now, the market eagerly awaits further developments, with many anticipating that XRP’s moment may finally be approaching. XRP Ledger Activity Signals A Shift


XRP remains one of the most popular altcoins in the crypto market, yet many investors are increasingly concerned as the price has struggled to reclaim local highs around $0.65. Despite the lack of upward momentum, critical data from Santiment offers a glimmer of hope. 


The XRP Ledger recently experienced a significant spike in activity, with 35,799 unique wallets making at least one transfer daily, marking the highest activity level in over three months. In addition, 3,858 new wallets were created in a single day, the largest increase over seven months. XRP Ledger spiked in active wallets | Source: Santiment on X


This surge in network activity is a promising sign for XRP, as spikes in active wallets and new addresses often precede major price movements. The growing interest in XRP could be an early indicator of an impending shift in price action, especially as the broader market trends upwards. 


However, the price must still exceed the local highs of around $0.65 to confirm a bullish trend. While the network data points to potential growth, the coming weeks will be crucial for XRP’s price movement.  Related Reading Bitcoin Whales ‘Grew Substantially’ During Last Dip, Data Shows Large-Holder Accumulation 1 day ago


If it can reclaim key resistance levels, XRP may finally align with the overall market’s bullish sentiment, providing a more optimistic outlook for its investors. Price Action: Technical Levels To Watch


XRP is trading at $0.555 after three weeks of sideways movement. It remains below the 4-hour 200 exponential moving average (EMA), but it is now testing this key indicator as resistance.  XRP testing the 4H 200 EMA (green) | Source: XRPUSDT chart on TradingView


A successful breakout above the 200 EMA, followed by consolidation and holding it as support, would likely signal a surge to higher supply zones around $0.60 and potentially $0.65. This breakout would confirm renewed bullish momentum, encouraging investors to wait for a clear upward trend.


However, if XRP fails to break above the 200 EMA and these critical resistance levels, a retrace to $0.52 or even lower could be imminent. Failing to breach this resistance would point to further consolidation or even a correction as the market seeks lower liquidity levels.  Related Reading Solana Struggles To Break $160 Resistance As Top Analyst Predicts A Coming Surge 2 days ago


As XRP continues to test this key technical level, the next few days will be pivotal in determining whether the altcoin can finally break out of its range-bound trading and follow the broader market’s bullish sentiment.


Featured image from Dall-E, chart from TradingView

News Feed

Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack
Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack A major cryptocurrency mining pool has been hit by hackers earlier this month, the company who owns the pool revealed in
Bitcoin bull Pompliano says BTC will be bigger than gold and ‘the leader in the recovery’
Nancy Lubale3 hours agoBitcoin bull Pompliano says BTC will be bigger than gold and ‘the leader in the recovery’Anthony Pompliano says Bitcoin is digital gold, remains the best savings tool and will continue to outpe
Holders Gather 233K BTC This Year, While Bitcoin Cash Savers Outshine Composition by Time Held
Holders Gather 233K BTC This Year, While Bitcoin Cash Savers Outshine Composition by Time HeldMarket data from Glassnode shows that bitcoin holders have increased their positions by
Max pain $51K? Bitcoin options worth over $9.4B set to expire Friday
Zoltan Vardai7 hours agoMax pain $51K? Bitcoin options worth over $9.4B set to expire FridayThe max pain Bitcoin price is at around $50,000 as over 134,000 BTC are set to expire on Deribit on March 29.4328 Total views30
Veve Partners With Marvel to Drop Limited Edition NFT Covers Featuring Spider-Man, Black Panther
Veve Partners With Marvel to Drop Limited Edition NFT Covers Featuring Spider-Man, Black Panther On August 29, the digital collectibles company Veve announced that the platform has
Coinbase cites Binance BNB token precedent in SEC petition
Vince Quill5 hours agoCoinbase cites Binance BNB token precedent in SEC petition“Rulemaking is required here because the SEC has adopted a novel and sweeping, yet still indeterminate, view of the securities laws,” at
Countdown to Cardano’s Hard Fork: Goguen Phase Smart Contracts ‘Represent a Big Step Forward’
Countdown to Cardano"s Hard Fork: Goguen Phase Smart Contracts "Represent a Big Step Forward" The digital currency network Cardano is two days away from the upcoming hard fork on S
Tom Mitchelhill3 hours agoSam Altman’s Worldcoin passes 2M sign-ups after months of touringWorldcoin surpassed two million sign-ups to World ID in less than half the time it took to reach one million.1220 Total views4
Gate.io to wind down services for customers in Japan
Martin Young3 hours agoGate.io to wind down services for customers in JapanThe crypto exchange blamed regulatory pressures and “compliance requests” from local financial regulators as the reason it terminated its ser
Payment infrastructure is key to bringing retail users to crypto
Peko Wan4 hours agoPayment infrastructure is key to bringing retail users to cryptoCrypto enthusiasts have been wondering why no one seems to be buying their coins this cycle. If people could use crypto for something, ma
The 2 Most Common Airdrop Phishing Attacks and How Web3 Wallet Owners Can Stay Protected
The 2 Most Common Airdrop Phishing Attacks and How Web3 Wallet Owners Can Stay Protected In the world of cryptocurrencies, decentralized finance (defi), and Web3, airdrops have bec
Solana NFTs hit $5B in all-time sales volume
Ezra Reguerra4 minutes agoSolana NFTs hit $5B in all-time sales volumeSolana NFTs recorded their second-highest monthly sales volume in December 2023, recording $365 million in sales volume for the month.17 Total viewsLi