Ripple Price Prediction As XRP Pump Loses Steam. Are Whales Waiting For $0.65?

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Following the SEC lawsuit victory, Ripple (XRP) price has shed nearly half its gains, leading to diminishing euphoria among investors. Now, attention is focused on the critical support level at $0.065, which could determine the cryptocurrency’s future direction.

Market Concerns Arise as XRP’s Momentum Slows Despite Legal Victory

Following its legal triumph against the SEC, Ripple price initially soared due to retail investor interest, but the momentum has since tapered off. The excitement over the victory has diminished, causing XRP to retrace some of the gains made during the July 13 rally. Despite this, market participants remain undeterred and hopeful.

Found the details. Tomorrow is the final day that SEC must notice an interlocutory appeal.

I’ll bet that SEC will appeal Torres’s ruling. Gary refused to go down without a fight. #XRP https://t.co/Vu7E65fbh1

— PRX (@PRX113) July 23, 2023

Market observers view the current decline in XRP as temporary and consider it a necessary step for a strong bullish trend ahead. The dip is not causing concern, as many believe XRP has further upside potential.

Analysts Share Their Confidence in XRP

XRP is currently near the crucial $0.65 support level, with indicators cooling off and reduced trading volume. An analyst predicts this situation could result in a potential price surge but warns of a possible shakeout to $0.50 before the next rally.

https://twitter.com/1StonedAPE/status/1683769364003147776

An analyst reassures that Ripple (XRP) is not a concern despite the recent price surge. The cryptocurrency is anticipated to enter a consolidation phase, preparing for another pump expected in a few months. This cycle of big pumps, followed by consolidation, is a typical pattern observed in XRP’s market behavior.

$XRP / $USD – Update

Do not worry #Ripple, we do not mind if you want to come down and consolidate after that big pump you had. Build up the momentum for the next pump in a few months.

That is how #XRP works, big pump, months of consolidation and big pump again pic.twitter.com/sthZkS95TJ

— Crypto Tony (@CryptoTony__) July 24, 2023

Some view the current retracement in Ripple’s price as market manipulation and advise investors to let the price naturally come down. This perspective dismisses any concerns and instills confidence in XRP’s long-term trajectory.

This #XRP retracement is only market manipulation, So let it come down, We do not need to worry, we know where it is going on the long term. 😉🙏$XRP 🚀🌖

— Brett Hill (@Brett_Crypto_X) July 24, 2023

Ripple Price Analysis

XRP/USD’s four-hour chart shows a lack of upward momentum, with the price consolidating near the $0.70 resistance level. This could indicate a potential stall in the upward trend. Additionally, the EMA50 has crossed above the EMA25, suggesting possible downside momentum.

XRP’s MACD histograms near the zero line show market indecision with no clear advantage for buyers or sellers, and the Stochastic Oscillator in the middle supports this notion. Both bulls and bears seem indecisive, leading to a 16% drop in XRP trading volume in the past 24 hours.

XRP’s near-term movement will remain stable unless it falls within the key Fibonacci zones of 78% and 61%. Investors must pay close attention to the critical level of $0.65, the 61% Fibonacci Retracement. If a four-hour candlestick closes below this level, it may trigger additional declines toward the $0.57 mark.

Price action is anticipated to remain subdued until reaching specific Fibonacci zones, where a potential second wave of rally might start. During this period, significant movements or reactions are not expected.

XRP/USD is expected to consolidate based on current chart patterns and technical indicators. Bullish activity may be limited until specific Fibonacci levels are reached. Traders and investors should keep an eye on the $0.65 level for potential trend reversals while also considering LPX as a more promising alternative.

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