• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Bulls Set to Retest $0.86, with $1 Target in Sight as Positive Catalysts Build
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Crypto News > Bulls Set to Retest $0.86, with $1 Target in Sight as Positive Catalysts Build
Crypto News

Bulls Set to Retest $0.86, with $1 Target in Sight as Positive Catalysts Build

vitalclick
Last updated: September 15, 2024 6:26 am
8 months ago
Share
SHARE

September is historically a bad month for Bitcoin and altcoins alike, and current indicators show the market may be overbought, suggesting more price drops. XRP’s price movements have been closely mirroring Bitcoin’s. Historically, whenever Bitcoin shows lower highs after each correction, XRP tends to follow the same pattern. This means that as Bitcoin drops, XRP is expected to decline in value as well.

However, the recent news of Grayscale launching an XRP Trust has positively impacted XRP’s price. This trust is designed to give institutional investors exposure to XRP, indicating growing confidence in the asset’s long-term potential.

XRP is also one of the nine cryptocurrencies compliant with the ISO 20022 standard, which is crucial for integrating into traditional financial systems and could position it to be used in future CBDCs.

XRP Price Analysis:

Triangle Pattern and Waves: The price movement since the swing low on July 4th, around $0.38, saw a three-wave rally, labeled as wave A. Analysts are anticipating a continuation to the upside, although confidence in this outcome isn’t high. The current sideways movement is seen as a B-wave, which is expected to lead into a C-wave. This entire structure can be identified as a triangle with waves A, B, C, and D already completed, and a final E-wave potentially forming a higher low.

Key Levels and Invalidation Points: Both scenarios share the same invalidation point at $0.50. A break below this level would invalidate the microstructures of either pattern. The next crucial resistance is at $0.642 to $0.643, which is the swing high from August 7th.

A sustained break above this level could signal the start of a third wave to the upside, possibly reaching $0.86, the ideal target for a third wave based on Fibonacci extensions. However, if the price breaks above the previous B-wave high but does not hold above it, it could still be part of the triangle structure, forming a barrier triangle, though this is less common.

You Might Also Like

How Binance Listing Could Spark a Price Rally

Binance Exceeds 100 Trillion Dollar Trading Volume

Crypto currencies that corporate investors buy and sell last week

Bitcoin Big Whale Moved $3.6 Million Worth of BTC Before Satoshi Nakamoto Was Documented

Among Trump’s SEC Presidential Candidates! Another Bullish Signal for Cryptos?

TAGGED:CryptoNews
Share This Article
Facebook Twitter Email Print
Previous Article XRP Beat Major Cryptos with 4% Surge, Will Its Price Hit $0.73?
Next Article US Bitcoin ETFs Boom with $263M Inflows as Bitcoin Soars 12% Above $60K: Will This Sustain?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?