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Last chance to accumulate XRP in cents as XRP prepares for the next move to $1
A high momentum rally in XRP breaks out of key resistances and creates massive green candles to fuel the uptrend to $1. With the golden crossover heralding a bullish trend reversal, here is the last potential chance to buy XRP in cents below $0.65.
Amid the broader market pullback, most altcoins with large market caps are seeing massive incoming supply. However, Exchange rate risk swims against the bearish wave, ranking among the best performers of the last 24 hours.
With a breakout run extending the V-reversal rally, XRP will cross the 52W high to reclaim the psychological benchmark of $1. As a result, this analysis provides a closer look to ascertain whether this is the last opportunity to buy XRP below $0.65.
XRP’s Golden Cross Suggests Bull Run Above $0.65
After consolidating below the $0.65 level for a couple of weeks, Exchange rate risk has regained bullish momentum. With an overnight surge of 4.28% coupled with today’s continuation of 3.10%, the altcoin is trading at $0.64773.
Breaking out of the consolidation range, XRP token challenges the $0.65 mark with a 160% increase in trading volume in 24 hours. According to the Fibonacci retracement of the 2024 correction phase, the altcoin is opposing the 78.60% Fibonacci level.
Also, the bullish crossover in Stochastic RSI creates a huge spike from the oversold zone. Hence, the massive demand and momentum surge is evident in the technical indicator.
The bullish influence on the 50D and 200D EMAs also determines a bullish crossover known as the Golden Crossover. It marks a trend reversal seal in the Exchange rate risk daily chart and strengthens bullish confidence.
XRP Breakout Run on Lower Time Frames
In a smaller timeframe of 4H, the XRP price trend shows a bullish breakout of a triangle pattern. However, the previous bull run before the volatility contraction makes it a bullish flag.
The breakout rally increases the chances of an uptrend in XRP price as the bullish flag is classified as a trend continuation pattern. Additionally, the bullish crossover in the MACD and signal line supports the continuation of the uptrend.
Will XRP reach $1?
The increasing demand for XRP tokens during a market pullback speaks volumes about the upcoming bull run. Additionally, multiple breakouts and bullish signals in daily and smaller timeframes support the optimistic view.
According to the Fibonacci levels on the daily chart, a break of $0.65 will weaken the resistance of $0.72. Therefore, the chances of a bull run in XRP to the 1.618 Fibonacci level at $0.91 will increase.
On the optimistic side, the push from the upcoming US federal rate cuts and the broader market recovery could push XRP to reclaim the psychological $1 mark.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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