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Harvey Hunter
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Harvey Hunter
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XRP can be the stage of another leg in the bull race, with the addition of prices recently to weight to the short term XRP prediction price.
After a 20 % decrease from the highest level in mid -July, it seems that XRP has found solid foot $ 2.90 The level, the formation of a double bottom – a classic reflection signal indicates the renewal of the purchase attention.
However, the most comply total conditions can add. The American Federal Reserve kept interest rates unchanged in July, as it followed the waiting and vision approach amid a new tariff, while the recent job data came weaker than expected, adding the uncertainty in the market expectations.
With the end of the “mutual” definition in April and 92 countries now faces higher fees, speculators do not see a little opportunity to reduce the interest rate, which increases the appetite of risk.
XRP Bull Run Bowns in a double bottom style
According to the famous X Charts, the likely dual bottom can see the XRP price to $ 3.60, around the level that culminated in its last operation.
His analysis is noted main resistance at $ 3.30, neckline on the double bottom, and the key to the sure penetration towards its goal. However, the market is hesitant.
Open attention shows signs of decrease, as it decreased by 25 % during the past ten days, according to Coinglass data– The usual interest decreases with trading betting lower on XRP price movements.
It seems that active derivative traders are putting in a continuing position, although a long/short percentage of 2.59 on Binance shows that more than 72 % of merchants are still betting on increasing prices.
XRP Prices analysis: Is this the preparation for the highest new level ever?
The dual bottom of the Ali XRP again can be repeated on the penetration path to the pattern of its sprays for 9 months.
While the post-half-run momentum stopped from the top of the mid-June market, the reflection here can focus attention on its goal of $ 4.10-a 40 % potential move to its highest level ever.
Momentum indicators support this view. The relative strength index of Overseal has recovered in her thirty years old, as he was now sitting in 37 years, indicating that buyers intervene with the arrival of sellers to fatigue.
Meanwhile, a MACD graph began to settle after the death cross, often an early signal of the bullish direction on the graph for 4 hours while moving towards the signal line.
If it lasts $ 2.90, the double bottom will need to penetrate the neck line at $ 3.30 to confirm the upward trend about $ 3.60 and beyond.
However, in the event of a failure of $ 2.90 and macro conditions it controls the morale of investors, the price of XRP may stumble to a deeper support of about $ 2.70.
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With the return of “mutual” definitions, the markets are afraid of repeating the bear market in mid-2015-long-term holders may have to play the waiting game again.
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2025-08-01 19:14:00
