XRP (XRPUSD) Price Forecast: August 1
The XRP bulls are gaining strength as the coin market flashes a bullish pattern. The coin’s rising volume is backed up by the investors funneling funds into the asset. From the look of things, the coin may continue its bullish movement if buyers should aggressively increase their activities in the market. The coin might further climb up to the $0.80 upper resistance level and beyond.
Key Levels:
Resistance Levels: $0.50, $0.60, $0.70
Support Levels: $0.40, $0.30, $0.20
XRP (USD) Long-term Trend: Bullish (Daily Chart)
The XRP pair is experiencing a jolly bullish move as the bulls are gaining strength in its long-term view. The coin price is now strongly trading above the moving averages with huge volumes from the buy investors, suggesting an uptrend. Thus, the recent market structure has favored the bulls. 
The sustained bullish pressure pushed the coin price to a $0.61 barrier level during yesterday’s session, enabling the crypto price to remain firm above the supply levels in its recent high.
At the press time today, the market price of XRPUSD at the $0.63 high level above the moving averages as the daily chart opens implies that the bulls are gaining strength as the market remains in an uptrend, and from the way it is, it will keep growing.
Hence, there is a tendency for the coin to rise further as shown by the daily signal pointing upwards. Therefore, if the $0.58 support level holds, buyers might take the price to a high of $0.80 soon in its long-term perspective.
XRP (USD) Medium-term Trend: Bullish (4H Chart)
The bulls are gaining strength as upward pressure still dominates the XRPUSD market in the medium term. The price currently trades above the moving averages, confirming its bullish trend.
The coin buyers’ pressure to a $0.60 resistance level during the previous session has made it possible for the price to remain firm in an uptrend in its recent high.
Today’s market value of XRP at a $0.63 supply value above the moving averages as the 4-hourly session opens today affirms that the bulls are gaining strength and strong investors’ interest in the crypto.
Thus, a breakout above the $0.63 current high mark would enable buyers to regain control and potentially drive the coin price toward the upper resistance area.
In addition, with the daily stochastic pointing upwards, we can expect more bullish action, if all the support holds in place. The price of XRPUSD might jump up to the $0.80 upper high level soon as the bulls are gaining strength in its medium-term outlook.
Buy XRP on Longhornfx
Leave a Reply