January 15, 2024 at 12:36 PM GST 1 min read News
  • XRP’s price approaches macro apex, indicating a bullish breakout, as predicted by Crypto Rover.
  • From the bear market bottom at 0$.30, XRP shows a steady rise, forming higher highs.
  • Critical for XRP: Maintaining above $0.55 to avoid further capitulation towards $0.45 support.

A recent analysis by popular digital asset expert, Crypto Rover, has the cryptocurrency community abuzz with anticipation. Rover predicts that XRP, already on a gradual upswing since hitting the bear market low of $0.30 in June 2022, is fast approaching its macro apex, signaling a potential bullish breakout.

Read CRYPTONEWSLAND on Google News google news

This optimistic forecast sees XRP bulls taking the reins within the next two months, targeting a rally to nearly $0.80 to maintain its macro bullish outlook.

The support level of around $0.55 has been pivotal for XRP, instilling confidence among buyers and establishing a psychological stronghold. This strength is further evidenced by the formation of higher highs and higher lows in daily and weekly time frames, characteristics of a rising channel.

However, there’s a note of caution for XRP enthusiasts. Should the price consistently close below the $0.55 support/resistance level, the market could see further capitulation, potentially dropping to the next major support level around $0.45.

The article concludes with a positive projection for XRP in the crypto industry, highlighting its potential for sustained growth and its robust position in the evolving digital currency market.

Read also:

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.