XRP is still bleeding. This is truly a fact well-known in the cryptocurrency market. This token did not reach its previous all-time high yet, and has a pending SEC lawsuit. Those factors combined with mixed feelings in the crypto market created a strong downtrend for XRP. On the other hand, looking at the chart tells a different story. In this XRP price prediction article, we analyze XRP from a technical view and see why XRP price today is in the perfect buy zone!
តើមានអ្វីថ្មីជាមួយ Ripple និងបណ្តឹង SEC?
ត្រលប់មកវិញនៅពាក់កណ្តាលខែមេសាឆ្នាំ 2022 ក្រុមហ៊ុន Ripple បានគ្រប់គ្រងឆ្ពោះទៅរកភាពវិជ្ជមាននៅក្នុងសំណុំរឿងបណ្តឹងប្រឆាំងនឹង SEC ។ ចៅក្រមបានសម្រេចថា SEC ត្រូវការបញ្ចេញឯកសារសំខាន់ៗដែលក្រុមហ៊ុន Ripple នឹងអាចបដិសេធនៅពេលខាងមុខ។ ការពិចារណាថា Ripple អាចនឹងដោះស្រាយនឹងពិតជាការឈ្នះដ៏ធំសម្រាប់ក្រុមហ៊ុន។ The case should in theory be បានដោះស្រាយ between 60 to 90 days (by end of August 2022).
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Why is XRP Price Down?
XRP price has been on a sideways trend since the crypto market crashed back in November 2021. The trend is delimited between $0.61 and $0.92. Day traders managed to benefit significantly from this price action, as taking correct action becomes very predictable when trading. Traders will simply buy around the $0.61 area and sell around the $0.92 area.
Since the beginning of April 2022, XRP prices have been heavily sold. This brought prices back towards the strong support of $0.61, losing around 35% in value.
XRP Price Prediction – Will XRP rebound higher?
If we look at figure 2 below, we can see that XRP prices formed a descending triangle since last year. The strong support of $0.61 was tested 5 times previously, including today. Prices are expected to continue to oscillate in this triangle until it breaks from either sides. It is more probable that the break will occur from the upper side, pushing prices to explode soon after.
Opening a buy position at the current price is definitely a good idea, as prices are expected to rebound higher. Of course, placing an adequate stop-loss should be in place, specifically around $0.56. On the other hand, the upside will definitely be a previous important price area. First target around $0.92, second around $1.2. The latter would yield a 100% return if you place a buy order today ?
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ច្រើនទៀតដោយ Altcoin
Source: https://cryptoticker.io/en/xrp-price-increase-100-this-chart-confirms-a-massive-breakout-soon/