Fun

XRP Bull Targets $2.80 Breakout — Key Levels To Consider

News Feed - 2025-02-10 05:02:23

Este artículo también está disponible en español.


According to data from CoinMarketCap, XRP recorded a substantial price decline in the past trading week losing 16.78% of its market value. Currently, the prominent altcoin finds itself in a consolidation zone potentially gathering momentum for its next breakout. Related Reading Dogecoin Price To $1, XRP To $6, And Solana To $1,000? Pundit Says You’re Not Bullish Enough 1 day ago XRP Price At Crucial Juncture


In arecent X post, popular digital asset expert Egrag Crypto shared a technical analysis of the XRP market presenting both possible bullish and bearish scenarios. This analysis was based on Fibonacci retracement levels which identifies potential support and resistance levels and the 21-day exponential moving average which smoothens out price data giving more weight to recent prices. Source: @egragcrypto on X


According to Egrag Crypto, XRP is expected to range between $2.27 (Fib 0.382) and $2.45 ( Fib 0.5). However, there is potential for prices to swing within a wider boundary of $2.06 (Fib 0.236) – $2.65 (0.618). Notably, the altcoin gained by 1.67% in the past day. However, a daily price close above the 21 EMA which is currently at $2.70 is crucial in confirming any uptrend. 


Interestingly, if market bulls are able to force a strong close above $2.80 (Fib 0.702), this would suggest a major bullish signal indicating the current XRP buying pressure is sufficient to break higher resistance levels. On the other hand, Egrag Crypto warns that traders must avoid any price fall to $1.77 which may not necessarily invalidate the current bullish structure but would suggest rising bearish pressure. Related Reading Altcoins Season: Recent Crypto Dip Shows Decline May Be Over And Bulls Are Taking Charge 20 hours ago XRP Market Overview 


At the time of writing, XRP trades at $2.49 after a 4.43% increase in the last 24 hours as previously stated. However, the asset’s trading volume is down by 56.85% indicating a lack of interest and uncertainty in the market. However, considering XRP’s overall bearish form in the last seven days, a fall in trading volume may also suggest reduced selling pressure pointing to a potential reversal.


Generally, XRP investors remain bullish on the asset’s prospects driven by several factors but most notably by the potential of an XRP Spot ETF. In the past week, there were significant developments on that front as the Chicago Board Options Exchange filed 19b-4 applications with the US Securities and Exchange Commission (SEC) seeking to list and trade the XRP spot ETFs proposed by WisdomTree, Bitwise, 21 Shares, and Canary.


Once the SEC acknowledges receipt of these applications, the US regulator is granted a 45-day window – with potential extensions of up to 240 days – to assess and make an approval decision on the proposed ETFs.  XRP trading at $2.4881 on the daily chart | Source: XRPUSDT chart on Tradingview.com Featured image from Trackinsight, chart from Tradingview

News Feed

FIFA Unveils Range of New Web 3․0 Games Ahead of FIFA World Cup Qatar 2022™
FIFA Unveils Range of New Web 3․0 Games Ahead of FIFA World Cup Qatar 2022™ press release PRESS RELEASE.FIFA has unveiled a portfolio of new future-focussed web 3.0 games to ent
Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’
Edward Snowden Calls CBDCs "Cryptofascist Currency" — "Closer to Being a Perversion of Cryptocurrency" On October 9, whistleblower and privacy advocate Edward Snowden published a
Bitcoin Retests $95,000 Amid 4.2% Surge, Is A New Year Rebound Coming?
Este artículo también está disponible en español. As the year ends, a renowned analyst suggested that Bitcoin (BTC) could have a New Year rebound after the flagship crypt
Trader turns $1K into $750K trading Tron memecoin SunWukong
Tom Mitchelhill5 hours agoTrader turns $1K into $750K trading Tron memecoin SunWukongThe anonymous trader’s Sun Wukong holdings surged to $750,000 at its peak, but he hasn’t sold a single token yet. 2079 Total views
Ray Salmond3 hours agoBitcoin short-term holders capitulate as data highlights potential generational buying opportunityBitcoin’s current price action leaves much to be desired, but multiple indicators point to what co
Exchange Crypto with 0% Fees in Lumi Wallet
Exchange Crypto with 0% Fees in Lumi WalletEverybody’s sick of commissions. Lumi Wallet is renouncing them, introducing 0% Fees on all crypto to crypto exchange operations. Al
Derek Andersen6 hours agoGenesis Digital Assets opens three new facilities in South Carolina in US expansionThe company has 400 MW of capacity spread across three continents, but most of its power is concentrated in Texa
Brayden Lindrea19 hours agoFake Ledger Live app sneaks into Microsoft’s app store, $588K stolenThe $588,000 was stolen across 38 transactions, with the largest transfer totaling $81,200.23329 Total views124 Total share
Changpeng Zhao four-month prison sentence lighter than expected
Shiraz Jagati4 hours agoChangpeng Zhao four-month prison sentence lighter than expectedProsecutors initially sought to charge the former Binance executive with 36 months.1176 Total views12 Total sharesListen to article 0
MetaWars Launchpad Revolutionizing the GameFi Industry as the ‘First’ Cross-Game Metaverse Launchpad
MetaWars Launchpad Revolutionizing the GameFi Industry as the "First" Cross-Game Metaverse Launchpad press release PRESS RELEASE.MetaWars is the first project to unite the world of
Dogecoin Price To $20? Higher Montly Close Suggests 8,000% Run Is Possible
Este artículo también está disponible en español. The Dogecoin price is starting to reverse some of its gains it made last week. At the time of writing, the Dogecoin pric
Vitalik Buterin Says Crypto Is a ‘Better Bet’ Than ‘Incredibly Inconvenient’ Gold
Vitalik Buterin Says Crypto Is a "Better Bet" Than "Incredibly Inconvenient" Gold The Ethereum blockchain co-founder, Vitalik Buterin, insisted in a recent tweet that crypto is a b