{"id":545129,"date":"2023-07-31T08:38:45","date_gmt":"2023-07-31T08:38:45","guid":{"rendered":"https:\/\/wncen.com\/?p=545129"},"modified":"2023-07-31T08:38:45","modified_gmt":"2023-07-31T08:38:45","slug":"xrp-struggles-in-its-journey-to-1-market-observers-share-contrasting-views","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-struggles-in-its-journey-to-1-market-observers-share-contrasting-views\/","title":{"rendered":"XRP Struggles In Its Journey To $1: Market Observers Share Contrasting Views"},"content":{"rendered":"

XRP has developed significantly since the recent court ruling in the high-profile case between Ripple and the US Securities Exchange Commission. The court declared that XRP is not a security, leading to a significant rally in its value.\u00a0<\/span><\/p>\n

However, XRP has not made significant progress toward the coveted $1 mark since the initial gains, leaving investors and market observers wondering about its future trajectory.<\/span><\/p>\n

Related Reading: Traders\u2019 Interest In XRP Remains Solid Despite Price Retreat, Data Shows<\/a><\/div>\n

The characteristics of the larger cryptocurrency market have also hampered XRP’s development. XRP’s price swings have been impacted by the erratic nature of the cryptocurrency market and the ebb and flow of investor emotion, forcing them to fluctuate without building enough momentum to reach the coveted $1 milestone.<\/p>\n

\"\"<\/p>\n

According to a recent\u00a0<\/span>XRP price report<\/span>\u00a0based on data from TradingView, a crypto analyst who goes by the pseudonym, Juicyho<\/a>, expressed doubts regarding the likelihood of a swift surge in XRP’s value.<\/span><\/p>\n

XRP Key Resistance Levels To Watch<\/strong><\/h2>\n

Juicyho believes that XRP might only experience a substantial rally once it finds strong support around the $0.58 level. Despite the positive impact of the court case on market sentiment, Juicyho suggests that additional factors may be at play, causing the token’s progress to stall.<\/span><\/p>\n

\"\"<\/p>\n

Source: Coingecko<\/a><\/pre>\n
As of the latest data from\u00a0<\/span>CoinGecko<\/span><\/a>, XRP is trading at $0.704, having experienced a 0.8% decline in the last 24 hours and a 3.1% slump over the past seven days. These fluctuations have left investors needing clarification about the cryptocurrency’s near-term trajectory.<\/span><\/p>\n
<\/p>\n
XRP market cap currently at $37.10 billion on the daily chart: TradingView.com<\/a><\/pre>\n
In the quest for a price rebound, Juicyho highlighted <\/span>crucial resistance levels<\/span><\/a>\u00a0to watch: $0.769, $0.785, and $0.98, with $0.785 as the most critical resistance level, based on historical price action on the yearly time frame. <\/span><\/p>\n
Breaking through and sustaining a value above $0.981 would signal a significant shift in price dynamics, potentially leaving the lower price range behind.<\/span><\/p>\n
CoinsKid’s Bullish XRP Prediction<\/strong><\/h2>\n
Despite the current stagnation, some analysts like CoinsKid remain optimistic about XRP’s prospects.\u00a0<\/span>CoinsKid<\/a> pointed out on X<\/span>\u00a0that XRP could be forming a “double bottom” pattern, often seen as a signal of an impending upward trend after a period of decline.\u00a0<\/span><\/p>\n
Related Reading: Shibarium Hype: Shiba Inu Whales Boost Appetite, Snag 1 Trillion SHIB Tokens<\/a><\/div>\n
Additionally, the analyst highlighted the formation of an ascending triangle, another bullish indicator. CoinsKid’s perspective is summed up in the trading principle, “compression leads to expansion,” indicating that XRP’s constrained trading range might eventually lead to a breakout.<\/span><\/p>\n
\n
#xrp<\/a> – breakout target new ATH.<\/p>\n
When you zoom out, you can see the bigger picture.<\/p>\n
Possible 6 month double bottom, ascending triangle forming!<\/p>\n
Compression leads to expansion. pic.twitter.com\/2DzOlit37H<\/a><\/p>\n
\u2014 CoinsKid (@Coins_Kid) July 30, 2023<\/a><\/p><\/blockquote>\n
Navigating Uncertainty<\/strong><\/h3>\n
Meanwhile, the court victory has undoubtedly brought positive sentiment to XRP, but the token faces challenges on its path to recovery. Analysts like Juicyho caution against hasty expectations and emphasize the importance of support levels. On the other hand, CoinsKid’s bullish outlook, based on technical patterns, keeps the optimism alive.<\/span><\/p>\n
XRP investors and traders must navigate uncertainty and exercise caution as the market evolves. Monitoring essential support and resistance levels and technical patterns will be crucial in gauging XRP’s potential breakout or further declines. Only time will tell how XRP’s price will ultimately respond to the court victory and the broader market conditions.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Coin Central<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
XRP has developed significantly since the recent court ruling in the high-profile case between Ripple and the US Securities Exchange Commission. The court declared that XRP is not a security, leading to a significant rally in its value.\u00a0 However, XRP has not made significant progress toward the coveted $1 mark since the initial gains, leaving investors and market observers wondering about its future trajectory. Related Reading: Traders\u2019 Interest In XRP Remains Solid Despite Price Retreat, Data Shows The characteristics of the larger cryptocurrency market have also hampered XRP’s development. XRP’s price swings have been impacted by the erratic nature of the cryptocurrency market and the ebb and flow of investor emotion, forcing them to fluctuate without building enough momentum to reach the coveted $1 milestone. According to a recent\u00a0XRP price report\u00a0based on data from TradingView, a crypto analyst who goes by the pseudonym, Juicyho, expressed doubts regarding the likelihood of a swift surge in XRP’s value. XRP Key Resistance Levels To Watch Juicyho believes that XRP might only experience a substantial rally once it finds strong support around the $0.58 level. Despite the positive impact of the court case on market sentiment, Juicyho suggests that additional factors may be at play, causing the token’s progress to stall. Source: Coingecko As of the latest data from\u00a0CoinGecko, XRP is trading at $0.704, having experienced a 0.8% decline in the last 24 hours and a 3.1% slump over the past seven days. These fluctuations have left investors needing clarification about the cryptocurrency’s near-term trajectory. XRP market cap currently at $37.10 billion on the daily chart: TradingView.com In the quest for a price rebound, Juicyho highlighted crucial resistance levels\u00a0to watch: $0.769, $0.785, and $0.98, with $0.785 as the most critical resistance level, based on historical price action on the yearly time frame. Breaking through and sustaining a value above $0.981 would signal a significant shift in price dynamics, potentially leaving the lower price range behind. CoinsKid’s Bullish XRP Prediction Despite the current stagnation, some analysts like CoinsKid remain optimistic about XRP’s prospects.\u00a0CoinsKid pointed out on X\u00a0that XRP could be forming a “double bottom” pattern, often seen as a signal of an impending upward trend after a period of decline.\u00a0 Related Reading: Shibarium Hype: Shiba Inu Whales Boost Appetite, Snag 1 Trillion SHIB Tokens Additionally, the analyst highlighted the formation of an ascending triangle, another bullish indicator. CoinsKid’s perspective is summed up in the trading principle, “compression leads to expansion,” indicating that XRP’s constrained trading range might eventually lead to a breakout. #xrp – breakout target new ATH. When you zoom out, you can see the bigger picture. Possible 6 month double bottom, ascending triangle forming! Compression leads to expansion. pic.twitter.com\/2DzOlit37H \u2014 CoinsKid (@Coins_Kid) July 30, 2023 Navigating Uncertainty Meanwhile, the court victory has undoubtedly brought positive sentiment to XRP, but the token faces challenges on its path to recovery. Analysts like Juicyho caution against hasty expectations and emphasize the importance of support levels. On the other hand, CoinsKid’s bullish outlook, based on technical patterns, keeps the optimism alive. XRP investors and traders must navigate uncertainty and exercise caution as the market evolves. Monitoring essential support and resistance levels and technical patterns will be crucial in gauging XRP’s potential breakout or further declines. Only time will tell how XRP’s price will ultimately respond to the court victory and the broader market conditions. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Coin Central<\/p>\n","protected":false},"author":557,"featured_media":545141,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,4735,3680,13172],"class_list":["post-545129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-ripple","tag-xrp-price"],"acf":[],"yoast_head":"\nXRP Stalls In Journey To $1: Further Drops Seen: Analysts<\/title>\n<meta name=\"description\" content=\"XRP has developed significantly since the recent court ruling in the high-profile case between Ripple and the US Securities Exchange Commission. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Struggles In Its Journey To $1: Market Observers Share Contrasting Views","url":"http:\/\/wncen.com\/news\/xrp-struggles-in-its-journey-to-1-market-observers-share-contrasting-views\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-struggles-in-its-journey-to-1-market-observers-share-contrasting-views\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-194.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-194.png?fit=840%2C450"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","price action","ripple","xrp price"],"dateCreated":"2023-07-31T08:38:45Z","datePublished":"2023-07-31T08:38:45Z","dateModified":"2023-07-31T08:38:45Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Struggles In Its Journey To $1: Market Observers Share Contrasting Views\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-struggles-in-its-journey-to-1-market-observers-share-contrasting-views\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-struggles-in-its-journey-to-1-market-observers-share-contrasting-views\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-194.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-194.png?fit=840%2C450\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"price action\",\"ripple\",\"xrp price\"],\"dateCreated\":\"2023-07-31T08:38:45Z\",\"datePublished\":\"2023-07-31T08:38:45Z\",\"dateModified\":\"2023-07-31T08:38:45Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-194.png?fit=840%2C450","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/545129"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=545129"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/545129\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/545141"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=545129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=545129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=545129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}