- XRP analysts predict a bullish breakout with short-term targets of $2.5-$3.5 and long-term targets over $50.
- Technical indicators show bullish trends, but recent SEC actions introduce uncertainty for XRP investors.
- XRP’s price dynamics are influenced by legal developments and technical signals, presenting opportunities and risks.
On the X platform, blockchain analyst Armando Pantoja projected XRP’s impending breakout, citing rising triangle patterns and crucial Fibonacci levels. According to him, the short-term aim for XRP is $2.5 to $3.5, the mid-term is $20, and the long-term is $50 or more. Pantoja’s bullish stance has sparked conversations among XRP fanatics. As per the latest update at press time, XRP is valued at $0.5684 showcasing a 0.81% drop in the last 24 hours.
Additionally, Bleeding Crypto shared insights on XRP’s trading opportunities for swing traders. His chart from Binance shows long-term price action from May 2022 to March 2024, with projections into 2025. XRP’s price per the chart is $0.5684, within a volatile but largely sideways trend ranging from $0.30 to $0.80. A notable price spike occurred around July 2024. The chart uses weekly candles and includes a future projection indicating potential upside to $0.7488 and downside risk to $0.3029.
The XRP’s daily price chart highlights a 20-day and 200-day Exponential Moving Average (EMA). The price recently crossed above both EMAs, indicating a bullish trend. Volume analysis shows variable trading activity with recent high spikes, hinting at increased investor interest.
Moreover, the Moving Average Convergence Divergence (MACD) shows a bearish signal, with the MACD line crossing below the signal line. However, both lines remain above zero, suggesting overall bullish momentum.
The Relative Strength Index (RSI) recently fell from overbought levels to around 50, indicating a cooling off after a strong uptrend. Bollinger Bands analysis reveals the price touched the upper band before retreating, suggesting potential resistance.
XRP Sees Record July: High Network Growth & Whale ActivityBesides, recent developments in the SEC and Ripple case have influenced market sentiment. On July 31, the SEC cancelled its August 1 closed meeting, dampening hopes for a settlement. Speculation about a settlement surged after Ripple CEO Brad Garlinghouse’s mid-July interview, where he refrained from commenting on SEC discussions. Since then, the SEC has held one closed meeting but cancelled two. The next meeting is scheduled for August 8, with the same agenda as the cancelled one.
