{"id":630583,"date":"2024-07-19T16:00:38","date_gmt":"2024-07-19T16:00:38","guid":{"rendered":"https:\/\/wncen.com\/?p=630583"},"modified":"2024-07-19T14:21:04","modified_gmt":"2024-07-19T14:21:04","slug":"analyst-upbeat-on-xrp-rally-despite-sec-meeting-cancellation-details","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-upbeat-on-xrp-rally-despite-sec-meeting-cancellation-details\/","title":{"rendered":"Analyst Upbeat On XRP Rally Despite SEC Meeting Cancellation – Details"},"content":{"rendered":"

Nobody in the XRP community expected the SEC to cancel a meeting behind closed doors on July 18 without giving any reason. Some people think this move has something to do with the approval process for spot Ethereum ETFs.<\/a><\/p>\n

Related Reading: Injective (INJ) Breaches Key Resistance, Setting Stage For 1,350% Boom \u2014 Analyst<\/a><\/div>\n

Crypto Community Clueless On Meeting Cancellation<\/h2>\n

There has been an obvious shakeup in the cryptocurrency market because of the sudden about-face. XRP, Ripple’s native coin, fell 8% to $0.58, its 24-hour low. Trade volume was down as well, yet it rose 20%, showing investors’ interest amid uncertainties.<\/p>\n

There is a lot of talk in the market that the SEC’s decision<\/a> might have something to do with the process of approving spot Ethereum ETFs.<\/p>\n

Some of these funds have already been given preliminary approvals and were supposed to start trading next week. The US regulator may have canceled the meetings as a smart move in light of these events.<\/p>\n

<\/p>\n

XRP market cap currently at $30.9 billion. Chart: TradingView.com<\/a><\/pre>\n
Market Experts Keep A Close Eye On The Altcoin<\/h2>\n
Technical experts are paying close attention to how the price of XRP changes in this unstable market. Javon, a renowned analyst, identified a chart pattern<\/a> that resembles XRP’s recent bull run.<\/p>\n
The symmetrical triangular pattern expanding since 2018 matches the 2014\u20132017 trend. The first pattern led to a rapid rise that sent XRP from about $0.005 to a staggering high of $3.347, a rise of almost 43,000%.<\/p>\n
\n
$XRP<\/a> (Ripple) is RIGHT NEAR a point of BREAKOUT \ud83e\udd2f!<\/p>\n
A breakout has the potential to spark a more than 300X, 2017 Style bull move into the $100s… https:\/\/t.co\/fFRvHYITYn<\/a> pic.twitter.com\/sDJWAJcZ8A<\/a><\/p>\n
\u2014 JAVON\u26a1\ufe0fMARKS (@JavonTM1) July 17, 2024<\/a><\/p><\/blockquote>\n
If the past is any indication, another rise could be coming soon. According to Javon’s prediction, the price of XRP could climb to a level above $237. Even though this prediction is very high, it fits with how things have been in the past and shows that things could go up from where they are now.<\/p>\n
\"\"<\/p>\n
XRP: Resistance And Support<\/h3>\n
The technical indicators at hand\u00a0provide XRP buyers\u00a0with a mixed bag of data. In terms of\u00a0support, the altcoin\u00a0is still higher above the 50% Fibonacci retracing line and the 100-hour Simple Moving Average. Strong support is spotted\u00a0at $0.5820 and $0.5850. These figures are quite significant as they highlight major areas where the price may settle and maybe even rise.<\/p>\n
\"\"
XRP up in the last week. Source: Coingecko<\/a><\/figcaption><\/figure>\n
On the other hand, the coin meets strong opposition at different levels. Right now, there is resistance around $0.620. There are also bigger blocks at $0.6350, $0.6420, and possibly even $0.6550 and $0.680.<\/p>\n
Related Reading: Dogecoin Big Rally Ahead: Analyst Sees \u2018Most Beautiful\u2019 Chart Pattern<\/a><\/div>\n
If there is a clear break above these support levels, more gains could happen. But if XRP fails to break through these levels, there may be a drop to the downside. The price is likely to find support near $0.600, and it will likely go down even more if it falls below $0.5850.<\/p>\n
Featured image from Quick Tips, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Nobody in the XRP community expected the SEC to cancel a meeting behind closed doors on July 18 without giving any reason. Some people think this move has something to do with the approval process for spot Ethereum ETFs. Related Reading: Injective (INJ) Breaches Key Resistance, Setting Stage For 1,350% Boom \u2014 Analyst Crypto Community Clueless On Meeting Cancellation There has been an obvious shakeup in the cryptocurrency market because of the sudden about-face. XRP, Ripple’s native coin, fell 8% to $0.58, its 24-hour low. Trade volume was down as well, yet it rose 20%, showing investors’ interest amid uncertainties. There is a lot of talk in the market that the SEC’s decision might have something to do with the process of approving spot Ethereum ETFs. Some of these funds have already been given preliminary approvals and were supposed to start trading next week. The US regulator may have canceled the meetings as a smart move in light of these events. XRP market cap currently at $30.9 billion. Chart: TradingView.com Market Experts Keep A Close Eye On The Altcoin Technical experts are paying close attention to how the price of XRP changes in this unstable market. Javon, a renowned analyst, identified a chart pattern that resembles XRP’s recent bull run. The symmetrical triangular pattern expanding since 2018 matches the 2014\u20132017 trend. The first pattern led to a rapid rise that sent XRP from about $0.005 to a staggering high of $3.347, a rise of almost 43,000%. $XRP (Ripple) is RIGHT NEAR a point of BREAKOUT \ud83e\udd2f! A breakout has the potential to spark a more than 300X, 2017 Style bull move into the $100s… https:\/\/t.co\/fFRvHYITYn pic.twitter.com\/sDJWAJcZ8A \u2014 JAVON\u26a1\ufe0fMARKS (@JavonTM1) July 17, 2024 If the past is any indication, another rise could be coming soon. According to Javon’s prediction, the price of XRP could climb to a level above $237. Even though this prediction is very high, it fits with how things have been in the past and shows that things could go up from where they are now. XRP: Resistance And Support The technical indicators at hand\u00a0provide XRP buyers\u00a0with a mixed bag of data. In terms of\u00a0support, the altcoin\u00a0is still higher above the 50% Fibonacci retracing line and the 100-hour Simple Moving Average. Strong support is spotted\u00a0at $0.5820 and $0.5850. These figures are quite significant as they highlight major areas where the price may settle and maybe even rise. On the other hand, the coin meets strong opposition at different levels. Right now, there is resistance around $0.620. There are also bigger blocks at $0.6350, $0.6420, and possibly even $0.6550 and $0.680. Related Reading: Dogecoin Big Rally Ahead: Analyst Sees \u2018Most Beautiful\u2019 Chart Pattern If there is a clear break above these support levels, more gains could happen. But if XRP fails to break through these levels, there may be a drop to the downside. The price is likely to find support near $0.600, and it will likely go down even more if it falls below $0.5850. Featured image from Quick Tips, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":630592,"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":[142,428,6664,1944,3799,4531],"class_list":["post-630583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-crypto","tag-etf","tag-sec","tag-xrp"],"acf":[],"yoast_head":"\nAnalyst Upbeat On XRP Rally Despite SEC Meeting Cancellation<\/title>\n<meta name=\"description\" content=\"Nobody in the XRP community expected the SEC to cancel a meeting behind closed doors on July 18 without giving any reason. 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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":"Analyst Upbeat On XRP Rally Despite SEC Meeting Cancellation – Details","url":"http:\/\/wncen.com\/news\/analyst-upbeat-on-xrp-rally-despite-sec-meeting-cancellation-details\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/analyst-upbeat-on-xrp-rally-despite-sec-meeting-cancellation-details\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/a_074e11.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/a_074e11.jpg?fit=1200%2C800"},"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","bitcoin","crypto","etf","sec","xrp"],"dateCreated":"2024-07-19T16:00:38Z","datePublished":"2024-07-19T16:00:38Z","dateModified":"2024-07-19T16:00:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analyst Upbeat On XRP Rally Despite SEC Meeting Cancellation – Details\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/analyst-upbeat-on-xrp-rally-despite-sec-meeting-cancellation-details\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/analyst-upbeat-on-xrp-rally-despite-sec-meeting-cancellation-details\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/a_074e11.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/a_074e11.jpg?fit=1200%2C800\"},\"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\",\"bitcoin\",\"crypto\",\"etf\",\"sec\",\"xrp\"],\"dateCreated\":\"2024-07-19T16:00:38Z\",\"datePublished\":\"2024-07-19T16:00:38Z\",\"dateModified\":\"2024-07-19T16:00:38Z\"}<\/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\/2024\/07\/a_074e11.jpg?fit=1200%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/630583","targetHints":{"allow":["GET"]}}],"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=630583"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/630583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/630592"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=630583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=630583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=630583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}