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XRP experienced a 1% decline after touching the $0.6537 – $0.6459 resistance range.
If the price closes above $0.654 for a 4-hour period, it could initiate an upward trend.
Following the sideways movement in July, breaking above $0.57 triggered positive momentum.
On the weekly chart, XRP continues its upward trend by closing above the significant support level of $0.5664. Maintaining a level above $0.56 may signal potential upward movement towards $0.709 and $1 levels.
Medium-Term XRP Price Analysis
“Weekly XRP/USD Price Chart”
According to the weekly technical chart of XRP, candle closures above the significant weekly support level of $0.5664 continue. As long as XRP maintains weekly candle closures above $0.56, it aims to sustain its upward trend, targeting first the $0.709 level and then the $1 level.
In July, the XRP price had risen to around $0.95, but it later experienced sideways movement in the range of $0.57 to $0.46, unable to participate in the rise of Bitcoin and other cryptocurrencies. However, with its move above $0.57, XRP regained positive momentum.
Staying above $0.56 for Ripple increases the likelihood of XRP initiating a rise back to $1. Especially with the influence of social media, it can be considered that the XRP price is preparing to initiate an upward trend.
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If XRP Breaks Critical Resistance, It Could Surge by 10%!
4-Hour XRP/USDT Price Chart
According to the 4-hour technical chart of XRP, a 1% downward movement is observed after the price touched the nearest resistance range of $0.6537 – $0.6459. If the XRP price achieves 4-hour candle closures above the $0.654 level, it may initiate an upward trend.
Should the XRP price achieve 4-hour candle closures above $0.654, the next target is $0.688. Additionally, closures above $0.688 may trigger an ascent of the XRP price to $0.733.
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If XRP makes 4-hour candle closures above $0.6271, it may indicate a tendency to start an upward trend. However, in the event of a sharp drop to $0.61, consider a stop-loss level of $0.56 for medium-term spot investments.
