{"id":26773,"date":"2023-07-14T04:54:30","date_gmt":"2023-07-14T08:54:30","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26773"},"modified":"2023-07-14T04:54:30","modified_gmt":"2023-07-14T08:54:30","slug":"xrp-price-retreats-after-massive-80-rally-buy-the-dips","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/14\/xrp-price-retreats-after-massive-80-rally-buy-the-dips\/","title":{"rendered":"XRP Price Retreats After Massive 80% Rally, Buy The Dips?"},"content":{"rendered":"

XRP price rallied over 80% after the court\u2019s ruling and jumped above $0.80 against the US Dollar. It tested the $0.95 zone and is currently correcting gains.<\/em><\/p>\n

Ripple\u2019s token price surged above the $0.65 and $0.80 resistance levels against the US dollar.
\nIt is trading well above $0.5000 and the 100-day simple moving average.
\nThere was a break above a major bearish trend line with resistance near $0.50 on the daily chart of the XRP\/USD pair (data source from Kraken).
\nThe pair is currently correcting gains but the bulls might be active near $0.70.<\/p>\n

Ripple\u2019s XRP Price Surges Over 80%<\/h2>\n

After the court\u2019s verdict in favor of Ripple, XRP saw a monster rally above the $0.45 resistance. It broke many hurdles near $0.50, dragging Bitcoin<\/a> and Ethereum<\/a> high as well.<\/p>\n

There was a break above a major bearish trend line with resistance near $0.50 on the daily chart of the XRP\/USD pair. It opened the doors for a strong increase above the $0.65 resistance. The price gained over 80% and even spiked toward the $0.95 level.<\/p>\n

A high is formed near $0.9479 and the price is now correcting gains. It is trading below the 23.6% Fib retracement level of the upward move from the $0.4460 swing low to the $0.9479 high.<\/p>\n

XRP is still well above $0.5000 and the 100-day simple moving average. Immediate resistance is near the $0.85 level. The first major resistance is seen near the $0.92 level, above which the price might revisit the $0.95 resistance zone.<\/p>\n\n

Source: XRPUSD on TradingView.com<\/a><\/p>\n

The main barrier could be near the $1 level. A clear break above the $1 resistance could open the doors for a sharp increase toward the $1.10 resistance. The next major resistance above the $1.10 level could be near the $1.20 level.<\/p>\n

Are Dips Supported?<\/h2>\n

If XRP fails to clear the $0.850 resistance, it could continue to move down. Initial support on the downside is near the $0.750 level.<\/p>\n

The first major support could be near the $0.70 level or the 50% Fib retracement level of the upward move from the $0.4460 swing low to the $0.9479 high. If the price fails to stay above $0.70, it could start another major decline toward $0.55.<\/p>\n

Technical Indicators<\/p>\n

Daily MACD \u2013 The MACD for XRP\/USD is now losing momentum in the bullish zone.<\/p>\n

Daily RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is in the overbought zone.<\/p>\n

Major Support Levels \u2013 $0.7500, $0.7000 and $0.6500.<\/p>\n

Major Resistance Levels \u2013 $0.8500, $0.9200 and $0.9500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

XRP price rallied over 80% after the court\u2019s ruling and jumped above $0.80 against the US Dollar. It tested the $0.95 zone and is currently correcting gains.<\/em><\/p>\n

Ripple\u2019s token price surged above the $0.65 and $0.80 resistance levels against the US dollar.
\nIt is trading well above $0.5000 and the 100-day simple moving average.
\nThere was a break above a major bearish trend line with resistance near $0.50 on the daily chart of the XRP\/USD pair (data source from Kraken).
\nThe pair is currently correcting gains but the bulls might be active near $0.70.<\/p>\n

Ripple\u2019s XRP Price Surges Over 80%<\/h2>\n

After the court\u2019s verdict in favor of Ripple, XRP saw a monster rally above the $0.45 resistance. It broke many hurdles near $0.50, dragging Bitcoin<\/a> and Ethereum<\/a> high as well.<\/p>\n

There was a break above a major bearish trend line with resistance near $0.50 on the daily chart of the XRP\/USD pair. It opened the doors for a strong increase above the $0.65 resistance. The price gained over 80% and even spiked toward the $0.95 level.<\/p>\n

A high is formed near $0.9479 and the price is now correcting gains. It is trading below the 23.6% Fib retracement level of the upward move from the $0.4460 swing low to the $0.9479 high.<\/p>\n

XRP is still well above $0.5000 and the 100-day simple moving average. Immediate resistance is near the $0.85 level. The first major resistance is seen near the $0.92 level, above which the price might revisit the $0.95 resistance zone.<\/p>\n

Source: XRPUSD on TradingView.com<\/a><\/p>\n

The main barrier could be near the $1 level. A clear break above the $1 resistance could open the doors for a sharp increase toward the $1.10 resistance. The next major resistance above the $1.10 level could be near the $1.20 level.<\/p>\n

Are Dips Supported?<\/h2>\n

If XRP fails to clear the $0.850 resistance, it could continue to move down. Initial support on the downside is near the $0.750 level.<\/p>\n

The first major support could be near the $0.70 level or the 50% Fib retracement level of the upward move from the $0.4460 swing low to the $0.9479 high. If the price fails to stay above $0.70, it could start another major decline toward $0.55.<\/p>\n

Technical Indicators<\/p>\n

Daily MACD \u2013 The MACD for XRP\/USD is now losing momentum in the bullish zone.<\/p>\n

Daily RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is in the overbought zone.<\/p>\n

Major Support Levels \u2013 $0.7500, $0.7000 and $0.6500.<\/p>\n

Major Resistance Levels \u2013 $0.8500, $0.9200 and $0.9500.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-26773","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=26773"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26773\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26773"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}