{"id":434033,"date":"2020-08-10T21:00:27","date_gmt":"2020-08-10T21:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=434033"},"modified":"2024-06-11T14:14:53","modified_gmt":"2024-06-11T14:14:53","slug":"xrp-could-start-a-moon-mission-if-it-holds-one-crucial-level","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-could-start-a-moon-mission-if-it-holds-one-crucial-level\/","title":{"rendered":"XRP Could Start a \u201cMoon Mission\u201d if it Holds One Crucial Level"},"content":{"rendered":"<p><a href=\"https:\/\/wncen.com\/2019\/11\/06\/xrp-may-target-0-45-in-near-term-despite-falling-below-0-30\/\">XRP<\/a> has seen some mixed price action in recent weeks. After incurring an explosive rally that sent its price surging up towards $0.33 last week, it has been consolidation below its $0.30 support, struggling to garner further strength.<\/p>\n<p>Analysts are noting that this ongoing consolidation phase may simply be the calm before the storm.<\/p>\n<p>One trader is pointing to a plethora of different factors that suggest XRP could be on the cusp of starting its first \u201cmoon mission\u201d seen in ages.<\/p>\n<p>Some of these factors include its ability to bounce at its 200-day moving average, which happens to be where it has significant horizontal support as well.<\/p>\n<p>Another analyst is echoing this sentiment, noting that the token\u2019s consolidation beneath its resistance is an incredibly bullish sign that suggests a breakout rally is right around the corner.<\/p>\n<h2><strong>XRP Bulls Defend Crucial Support as Analysts Eye Upside<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2020\/08\/06\/xrp-momentum-macd-calm-storm-surge\/\">XRP<\/a> is trading up just over 2% at its current price of $0.295.<\/p>\n<p>This is around where it has been consolidating throughout the past several days, with $0.30 becoming a slight resistance level.<\/p>\n<p>Currently, the lower-$0.30 region is laced with significant resistance, as this is where it faced a sharp rejection when its price peaked at $0.33 last week.<\/p>\n<p>Where XRP trends next may be somewhat dependent on Bitcoin and the aggregated cryptocurrency market, as all the major altcoins are currently caught within consolidation phases.<\/p>\n<p>This may partially be the result of investors beginning to place a heightened focus on smaller altcoins \u2013 which have been posting meteoric gains throughout the past few weeks.<\/p>\n<p>Until these tokens cede their momentum, the major digital assets may continue to stagnate.<\/p>\n<p>While speaking about XRP\u2019s current technical outlook, one cryptocurrency analyst <a href=\"https:\/\/twitter.com\/Pentosh1\/status\/93788161\" rel=\"nofollow\">explained<\/a> that he believes it may soon \u201cmoon\u201d as it holds above its 200-day moving average and key historical support level.<\/p>\n<blockquote><p>\u201cXRP Update: Rebuying the 200D MA retest. Confluence with major historical support. Hold it equals moon. It&#8217;s that simple,\u201d he explained.<\/p><\/blockquote>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"aligncenter size-large wp-image-434036\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Pentoshi.jpg?fit=860%2C860\" alt=\"XRP\" loading=\"lazy\"><\/p>\n<pre>Image Courtesy of Pentoshi. Chart via <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" rel=\"nofollow\">TradingView.<\/a><\/pre>\n<h2><strong>This Technical Pattern Could Propel the Token Significantly Higher<\/strong><\/h2>\n<p>In addition to holding above its key moving average and horizontal support, XRP is also forming a classic bull pattern as it consolidates beneath resistance.<\/p>\n<p>While speaking about this, one analyst <a href=\"https:\/\/twitter.com\/TheGemClub\/status\/29644035\" rel=\"nofollow\">explained<\/a> that he is expecting it to see an imminent breakout in the days ahead.<\/p>\n<blockquote><p>\u201cXRP consolidating under resistance, expecting a nice breakout soon,\u201d he said.<\/p><\/blockquote>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"aligncenter size-large wp-image-434035\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Gat.jpg?fit=860%2C860\" alt=\"\" loading=\"lazy\"><\/p>\n<pre>Image Courtesy of Gat. Chart via <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" rel=\"nofollow\">TradingView.<\/a><\/pre>\n<p>How XRP trends in the coming days will likely have a major impact on its <a href=\"https:\/\/wncen.com\/2020\/01\/31\/this-eerily-accurate-fractal-suggests-bitcoin-will-soon-explode-to-12000\/\">macro outlook<\/a>.<\/p>\n<pre>Featured image from Unsplash.\r\nCharts from <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" rel=\"nofollow\">TradingView.<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>XRP has seen some mixed price action in recent weeks. After incurring an explosive rally that sent its price surging up towards $0.33 last week, it has been consolidation below its $0.30 support, struggling to garner further strength. Analysts are noting that this ongoing consolidation phase may simply be the calm before the storm. One trader is pointing to a plethora of different factors that suggest XRP could be on the cusp of starting its first \u201cmoon mission\u201d seen in ages. Some of these factors include its ability to bounce at its 200-day moving average, which happens to be where it has significant horizontal support as well. Another analyst is echoing this sentiment, noting that the token\u2019s consolidation beneath its resistance is an incredibly bullish sign that suggests a breakout rally is right around the corner. XRP Bulls Defend Crucial Support as Analysts Eye Upside\u00a0 At the time of writing, XRP is trading up just over 2% at its current price of $0.295. This is around where it has been consolidating throughout the past several days, with $0.30 becoming a slight resistance level. Currently, the lower-$0.30 region is laced with significant resistance, as this is where it faced a sharp rejection when its price peaked at $0.33 last week. Where XRP trends next may be somewhat dependent on Bitcoin and the aggregated cryptocurrency market, as all the major altcoins are currently caught within consolidation phases. This may partially be the result of investors beginning to place a heightened focus on smaller altcoins \u2013 which have been posting meteoric gains throughout the past few weeks. Until these tokens cede their momentum, the major digital assets may continue to stagnate. While speaking about XRP\u2019s current technical outlook, one cryptocurrency analyst explained that he believes it may soon \u201cmoon\u201d as it holds above its 200-day moving average and key historical support level. \u201cXRP Update: Rebuying the 200D MA retest. Confluence with major historical support. Hold it equals moon. It&#8217;s that simple,\u201d he explained. Image Courtesy of Pentoshi. Chart via TradingView. This Technical Pattern Could Propel the Token Significantly Higher In addition to holding above its key moving average and horizontal support, XRP is also forming a classic bull pattern as it consolidates beneath resistance. While speaking about this, one analyst explained that he is expecting it to see an imminent breakout in the days ahead. \u201cXRP consolidating under resistance, expecting a nice breakout soon,\u201d he said. Image Courtesy of Gat. Chart via TradingView. How XRP trends in the coming days will likely have a major impact on its macro outlook. Featured image from Unsplash. Charts from TradingView.<\/p>\n","protected":false},"author":499,"featured_media":434037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,4],"tags":[74937,10972,78763],"class_list":["post-434033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-analysis","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>XRP Could Start a \u201cMoon Mission\u201d if it Holds One Crucial Level<\/title>\n<meta name=\"description\" content=\"One trader is pointing to a plethora of different factors that suggest XRP could be on the cusp of starting its first \u201cmoon mission\u201d seen in ages.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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