{"id":552641,"date":"2023-09-23T17:00:28","date_gmt":"2023-09-23T17:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=552641"},"modified":"2024-06-11T07:59:39","modified_gmt":"2024-06-11T07:59:39","slug":"xrp-forecast-is-a-retreat-below-0-5-likely-before-october","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-forecast-is-a-retreat-below-0-5-likely-before-october\/","title":{"rendered":"XRP Forecast: Is A Retreat Below $0.5 Likely Before October?"},"content":{"rendered":"

XRP has maintained its position within the confines of a symmetrical triangle pattern, with today’s modest surge doing little to alter its trajectory. <\/span><\/p>\n

This symmetrical triangle pattern has exerted significant influence over XRP’s price movements for the past month, indicating that it may continue to dictate the coin’s fate in the near future.<\/span><\/p>\n

The symmetrical triangle pattern is a technical analysis chart pattern characterized by converging trendlines, with one representing the coin’s lower highs and the other symbolizing its higher lows.\u00a0<\/span><\/p>\n

Related Reading: ImmutableX Makes Noise As IMX Dominates Top 50 Roster With 33% Climb<\/a><\/div>\n

This pattern suggests a period of consolidation and uncertainty in the market, as traders weigh the potential for a breakout in either direction.<\/span><\/p>\n

A Crucial Breakout Looms For XRP\u00a0<\/strong><\/h2>\n

Analysts suggest<\/span><\/a> that a breakout from either side of the symmetrical triangle pattern could set the stage for a significant directional rally in XRP. Should the coin break above the upper trendline, it could potentially surge to a price of $0.55.<\/span><\/p>\n

As of now, XRP is trading at $0.512876, according to <\/span>CoinGecko<\/span><\/a>. Over the past 24 hours, it has recorded a modest increase of 1%, while its seven-day performance shows a 2.5% increase.<\/span><\/p>\n

Triangle Resistance Continues To Hold<\/strong><\/h2>\n

The report notes that the recent pullback in XRP marks the third instance where the price has retraced from the triangle’s upper trendline, underscoring the pattern’s dominance over this asset. <\/span><\/p>\n

Daily charts further emphasize this bearish sentiment, revealing an “Evening Star” pattern at the resistance, often seen as a precursor to potential downtrends.<\/span><\/p>\n

If sellers continue to dominate the market, XRP’s price may decline by approximately 6%, potentially pushing it down to the $0.485 level, which would serve as a retest of the triangle’s lower boundary. As long as XRP oscillates within these trendlines, its price is likely to remain range-bound.<\/span><\/p>\n

<\/h3>\n
XRP market cap currently at $27.2 billion. Chart: TradingView.com<\/a><\/pre>\n
Awaiting Exciting Developments<\/strong><\/h3>\n
Meanwhile, the XRP community is eagerly anticipating several exciting developments, including the launch of the Xahau network and the associated Evernode airdrop. The Xahau Ledger, which serves as the proposed Hooks sidechain and smart contract sidechain for the XRPL ecosystem, plays a crucial role in these innovations.<\/span><\/p>\n
In a<\/span> recent tweet<\/span><\/a>, Evernode, the Layer-2 blockchain behind these innovations, announced that its new website is now live. To safeguard its users against Twitter scammers, Evernode has implemented strict protective measures.<\/span><\/p>\n
\n
New Website: https:\/\/t.co\/YuFpmwCGbA<\/a><\/p>\n
To mitigate Twitter\u2019s scammers, we\u2019ll:
\n1. Only tweet links to website articles.
\n2. Never DM you.
\n3. Never offer support.<\/p>\n
Anybody claiming to be our \u201cHelp Desk\u201d or \u201cCustomer Support\u201d or \u201cDev Team\u201d is a scammer trying to steal your coins.<\/p>\n
\u2014 Evernode – No Trustline & No Support\ud83e\ude9d (@EvernodeXRPL) September 22, 2023<\/a><\/p><\/blockquote>\n
It will only tweet links to website articles, avoiding direct messages (DMs) to users and refraining from offering support, thus ensuring the safety and security of its community.<\/span><\/p>\n
Related Reading: Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty<\/a><\/div>\n
XRP’s current positioning within the symmetrical triangle pattern suggests that a breakout could be imminent, with both bullish and bearish scenarios on the horizon. <\/span><\/p>\n
As the XRP community eagerly anticipates upcoming developments, maintaining vigilance against potential scams remains paramount for all participants in the cryptocurrency space.<\/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 Pexels<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
XRP has maintained its position within the confines of a symmetrical triangle pattern, with today’s modest surge doing little to alter its trajectory. This symmetrical triangle pattern has exerted significant influence over XRP’s price movements for the past month, indicating that it may continue to dictate the coin’s fate in the near future. The symmetrical triangle pattern is a technical analysis chart pattern characterized by converging trendlines, with one representing the coin’s lower highs and the other symbolizing its higher lows.\u00a0 Related Reading: ImmutableX Makes Noise As IMX Dominates Top 50 Roster With 33% Climb This pattern suggests a period of consolidation and uncertainty in the market, as traders weigh the potential for a breakout in either direction. A Crucial Breakout Looms For XRP\u00a0 Analysts suggest that a breakout from either side of the symmetrical triangle pattern could set the stage for a significant directional rally in XRP. Should the coin break above the upper trendline, it could potentially surge to a price of $0.55. As of now, XRP is trading at $0.512876, according to CoinGecko. Over the past 24 hours, it has recorded a modest increase of 1%, while its seven-day performance shows a 2.5% increase. Triangle Resistance Continues To Hold The report notes that the recent pullback in XRP marks the third instance where the price has retraced from the triangle’s upper trendline, underscoring the pattern’s dominance over this asset. Daily charts further emphasize this bearish sentiment, revealing an “Evening Star” pattern at the resistance, often seen as a precursor to potential downtrends. If sellers continue to dominate the market, XRP’s price may decline by approximately 6%, potentially pushing it down to the $0.485 level, which would serve as a retest of the triangle’s lower boundary. As long as XRP oscillates within these trendlines, its price is likely to remain range-bound. XRP market cap currently at $27.2 billion. Chart: TradingView.com Awaiting Exciting Developments Meanwhile, the XRP community is eagerly anticipating several exciting developments, including the launch of the Xahau network and the associated Evernode airdrop. The Xahau Ledger, which serves as the proposed Hooks sidechain and smart contract sidechain for the XRPL ecosystem, plays a crucial role in these innovations. In a recent tweet, Evernode, the Layer-2 blockchain behind these innovations, announced that its new website is now live. To safeguard its users against Twitter scammers, Evernode has implemented strict protective measures. New Website: https:\/\/t.co\/YuFpmwCGbA To mitigate Twitter\u2019s scammers, we\u2019ll: 1. Only tweet links to website articles. 2. Never DM you. 3. Never offer support. Anybody claiming to be our \u201cHelp Desk\u201d or \u201cCustomer Support\u201d or \u201cDev Team\u201d is a scammer trying to steal your coins. \u2014 Evernode – No Trustline & No Support\ud83e\ude9d (@EvernodeXRPL) September 22, 2023 It will only tweet links to website articles, avoiding direct messages (DMs) to users and refraining from offering support, thus ensuring the safety and security of its community. Related Reading: Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty XRP’s current positioning within the symmetrical triangle pattern suggests that a breakout could be imminent, with both bullish and bearish scenarios on the horizon. As the XRP community eagerly anticipates upcoming developments, maintaining vigilance against potential scams remains paramount for all participants in the cryptocurrency space. (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 Pexels<\/p>\n","protected":false},"author":557,"featured_media":552645,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[142,1144,8686,4735,4531],"class_list":["post-552641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-xrp"],"acf":[],"yoast_head":"\nXRP Forecast: Is a Drop Below $0.5 Likely Before October?<\/title>\n<meta name=\"description\" content=\"XRP has maintained its position within the confines of a symmetrical triangle pattern, with today's modest surge doing little to alter its trajectory.\" \/>\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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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 Forecast: Is A Retreat Below $0.5 Likely Before October?","url":"http:\/\/wncen.com\/news\/ripple\/xrp-forecast-is-a-retreat-below-0-5-likely-before-october\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/xrp-forecast-is-a-retreat-below-0-5-likely-before-october\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-9.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-9.jpg?fit=4000%2C2503"},"articleSection":"Ripple","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","xrp"],"dateCreated":"2023-09-23T17:00:28Z","datePublished":"2023-09-23T17:00:28Z","dateModified":"2024-06-11T07:59:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Forecast: Is A Retreat Below $0.5 Likely Before October?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-forecast-is-a-retreat-below-0-5-likely-before-october\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-forecast-is-a-retreat-below-0-5-likely-before-october\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-9.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-9.jpg?fit=4000%2C2503\"},\"articleSection\":\"Ripple\",\"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\",\"xrp\"],\"dateCreated\":\"2023-09-23T17:00:28Z\",\"datePublished\":\"2023-09-23T17:00:28Z\",\"dateModified\":\"2024-06-11T07:59:39Z\"}<\/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\/09\/a-9.jpg?fit=4000%2C2503","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/552641"}],"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=552641"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/552641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/552645"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=552641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=552641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=552641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}