News View Non-AMP

XRP Bulls Take Charge, Will Price Reach $0.65?

Published by
Zameer Attar

Despite price consolidation within a tight range at a support level, it appears that XRP bulls are back in the market as its trading volume skyrockets. On October 7, 2024, most top cryptocurrencies experienced a notable price surge, but XRP’s price has remained stable over the past 24 hours.

XRP Current Price Momentum

Currently, XRP is trading near $0.538 and has experienced a modest price surge of 0.75% in the past 24 hours. During the same period, its trading volume has skyrocketed by 90%, suggesting strong participation from investors and traders, which is a positive sign for XRP holders.

XRP Technical Analysis and Upcoming Levels

According to expert technical analysis, XRP appears bullish but has been stuck in a consolidation zone between $0.512 and $0.545 for the past five trading days. Based on recent performance, whenever XRP’s price reaches this level, it tends to experience a 20% rally.

However, if XRP breaks out of this consolidation zone and closes a daily candle above the $0.55 level, there is a strong possibility it could soar by 20% to reach the $0.65 level in the coming days. 

This bullish outlook is further supported by, XRP’s Relative Strength Index (RSI), which is currently in an oversold territory which signals a potential bullish price reversal in the coming days. However, it is still trading below the 200 Exponential Moving Average (EMA) on the daily time frame, indicating a downtrend. 

Bullish On-Chain Metrics

Apart from technical analysis, XRP’s on-chain metrics also support this bullish outlook. According to the on-chain analytics firm Coinglass, the major liquidation levels are at $0.53 and $0.563 as traders are over-leveraged at these levels.

However, data shows that bulls have placed over $8.45 million worth of long positions believing the market will not fall below the $0.53 level. 

In addition, XRP’s future open interest has increased by 3.75% over the past 24 hours and has been steadily increasing, indicating growing trader interest, with many likely betting more on long positions.

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Recent Posts

Top Pi Network Holders Revealed – Are You on the List?

A fun and viral classification system is circulating online, categorizing Pi Coin holders into playful…

July 2, 2025

Ethereum ETH Price Prediction 2025, 2026 – 2030: Will Ethereum Price Hit $3k?

Story Highlights The Ethereum price today is . ETH price with a potential surge could…

July 2, 2025

Crypto News Today, July 2nd : XRP News , Bitcoin Price Today, Microstrategy Stock and More

July 2, 2025 11:59:27 UTC Price of Bitcoin Today, BTC/USD Bitcoin investors now hold $1.2…

July 2, 2025

Cardano’s Confidence Crisis, Will ADA Price Slip Below $0.52?

Cardano ended June 2025 on a disappointing note, registering a 16% decline despite positive ecosystem…

July 2, 2025

Bitcoin Price Today Reacts to Trump’s Pressure on Fed Chair Powell — What’s Next?

Bitcoin price today is trading at $107K, extending last week’s turbulence into July 2025. The…

July 2, 2025

US Treasury OFAC Sanctions Russian Firms Associated With Cybercrimes

Office of Foreign Assets Control (OFAC), a US Department of the Treasury, recently targeted a…

July 2, 2025