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    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

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  • Guides
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    What Is Copy Trading in Crypto? A Beginner’s Guide

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

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    Elon Musk’s xAI Launches Waifu Companions for Grok

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    Web3 Meets the Stadium: The Rise of Competitive Ownership

    Can Snoop Dogg’s Telegram Drop Revive a Slumping NFT Market?

    Can Snoop Dogg’s Telegram Drop Revive a Slumping NFT Market?

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    Qitmeer Network Forges Partnership with Onmi to Bolster Web3 GameFi Space

    Qitmeer Network Forges Partnership with Onmi to Bolster Web3 GameFi Space

    Why Are So Many Crypto Games Shutting Down? Experts Weigh In

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  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    LFG Boosts Token Launches with Community Power

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  • AI
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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What are Rollups in Crypto? ZK Rollups and Optimistic Rollups Explained

  • Analysis
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Home Altcoins

How long will XRP’s latest bull trend last? Key price signals say…

June 17, 2024
in Altcoins
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How long will XRP’s latest bull trend last? Key price signals say…
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  • XRP was seeing a somewhat sustained yet tentative bullish trend.
  • Despite bearish attempts to reverse gains, XRP maintains higher lows after each bull flag.

In recent weeks, Ripple [XRP] has unexpectedly been riding a proper bullish wave, capturing the attention of investors and analysts alike. However, the pressing question remains: How long can XRP sustain this bullish trend?

XRP’s opening and closing prices over the days show a general downtrend with slight recoveries. As seen in the chart below, XRP’s  MACD line fluctuates around the zero line, indicating a market in balance between the bulls and bears. 

Source: TradingView

The presence of blue peaks above the signal line briefly suggests bullish momentum but is quickly neutralized, as seen by subsequent red troughs below the signal line.

Bullish momentum to halt or…?

Occasional spikes in the RSI show brief periods where buying pressure increases, but these are not sustained, indicating that any bullish trends are tentative and not strongly supported by continuous buying pressure.

XRP

Source: TradingView

The presence of multiple bull flags on the chart above, notably following upward movements, signals continued bullish momentum. 

However, these poles are followed by horizontal or minor retracement movements forming the “flags,” as shown in the chart above. This pattern typically indicates a consolidation phase.

The price has shown resilience by maintaining levels above earlier resistance-turned-support zones. 

Each bull flag forms at a higher level than the one before it, hinting at a small yet consistent bullish sentiment.

XRP

Source: TradingView

Over the past five days, XRP has seen instances where an inverse head-and-shoulders pattern might have formed. However, these instances seem cluttered and overlapping due to frequent markings, indicating consistent attempts by the bears to reverse the bullish trend.

See also  Saga (SAGA) Price Prediction

Current chart movements around the marked areas suggest frequent tests of resistance levels. XRP’s social volume has declined since the start of the year, but it is currently doing better than it was a month ago.

Source: Santiment


Realistic or not, here’s XRP’s market cap in BTC terms


Social dominance also appears to be on an upward trend, although not at the peak levels observed in December and January.

All in all, XRP’s bears are actively fighting the bulls, and for the momentum to hold, buying pressure must increase significantly.

 

Next: Cardano: Is ADA setting up for further decline below $0.406?

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

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  • XRP was seeing a somewhat sustained yet tentative bullish trend.
  • Despite bearish attempts to reverse gains, XRP maintains higher lows after each bull flag.

In recent weeks, Ripple [XRP] has unexpectedly been riding a proper bullish wave, capturing the attention of investors and analysts alike. However, the pressing question remains: How long can XRP sustain this bullish trend?

XRP’s opening and closing prices over the days show a general downtrend with slight recoveries. As seen in the chart below, XRP’s  MACD line fluctuates around the zero line, indicating a market in balance between the bulls and bears. 

Source: TradingView

The presence of blue peaks above the signal line briefly suggests bullish momentum but is quickly neutralized, as seen by subsequent red troughs below the signal line.

Bullish momentum to halt or…?

Occasional spikes in the RSI show brief periods where buying pressure increases, but these are not sustained, indicating that any bullish trends are tentative and not strongly supported by continuous buying pressure.

XRP

Source: TradingView

The presence of multiple bull flags on the chart above, notably following upward movements, signals continued bullish momentum. 

See also  Is Bitcoin's recovery here? Key factors that can help BTC rise again

However, these poles are followed by horizontal or minor retracement movements forming the “flags,” as shown in the chart above. This pattern typically indicates a consolidation phase.

The price has shown resilience by maintaining levels above earlier resistance-turned-support zones. 

Each bull flag forms at a higher level than the one before it, hinting at a small yet consistent bullish sentiment.

XRP

Source: TradingView

Over the past five days, XRP has seen instances where an inverse head-and-shoulders pattern might have formed. However, these instances seem cluttered and overlapping due to frequent markings, indicating consistent attempts by the bears to reverse the bullish trend.

Current chart movements around the marked areas suggest frequent tests of resistance levels. XRP’s social volume has declined since the start of the year, but it is currently doing better than it was a month ago.

Source: Santiment


Realistic or not, here’s XRP’s market cap in BTC terms


Social dominance also appears to be on an upward trend, although not at the peak levels observed in December and January.

All in all, XRP’s bears are actively fighting the bulls, and for the momentum to hold, buying pressure must increase significantly.

 

Next: Cardano: Is ADA setting up for further decline below $0.406?
Tags: BullkeyLatestlongPricesay..SignalstrendXRPs

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024

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EDITOR'S PICK

Bitcoin fees surge over 200% as Runes transactions drive network activity

Bitcoin fees surge over 200% as Runes transactions drive network activity

October 20, 2024
Craig “I am Satoshi Nakamoto” Wright — officially (and legally) found to NOT be Satoshi

Craig “I am Satoshi Nakamoto” Wright — officially (and legally) found to NOT be Satoshi

March 16, 2024
Ethereum ETFs: Time to revamp your ETH strategy before May?

Ethereum ETFs: Time to revamp your ETH strategy before May?

April 26, 2024
Base and Sound.xyz Pave the Way for NFT Music

Base and Sound.xyz Pave the Way for NFT Music

December 28, 2023

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