XRP Price Prediction: Ripple’s XRP Price Loses $3 – But the Bull Run Isn’t Over Yet
A pointy weekend decline has virtually erased the September bull run, sending XRP under $3 and shaking bullish XRP price predictions.
The altcoin is down over 11% as market members seem to sell-the-news on the first spot XRP ETF launch, compounded by a broader market pullback to start out the new week.
Yet, the U.S macro narrative nonetheless favors bulls. September inflation has cooled to 2.18%, strengthening the case for continued rate of interest cuts.
With markets pricing in another 0.50% of easing before year-end, macro situations present a robust spine for XRP’s bull run to renew.
XRP Price Analysis: Has the Bull Run Been Derailed?
The weekend decline marks a false breakout from a 3-month bull flag sample, delaying a continuation of XRP’s July bull run.
A double high sample has affirmed the traditionally vital $3.10 stage as resistance, triggering a correction again to $2.70.
This aligns with the decrease boundary of the flag’s consolidation, confirming the bullish setup stays legitimate with a bounce again to $2.80 right this moment as purchase strain reveals its cracks.
The RSI has reached deep oversold situations at 20, usually a sign of vendor exhaustion. Notably, the final time the RSI reached these lows, a pointy buyback sparked the June bull run.
And with the MACD histogram exhibiting a pointy spike after nearing a golden cross, right this moment’s sell-off might be a liquidation occasion somewhat than the begin of a sustained downtrend.
If consumers mount one other breakout try, $3.10 is the key stage to flip into help. Success would affirm a long-lasting breakout and set sights on the flag’s $5 goal for a 70% transfer.
With additional U.S. fee cuts and ETFs stacking as catalysts, the rally may even lengthen to $10 for a 255% transfer as the bull market matures.
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