{"id":26174,"date":"2023-06-17T15:41:59","date_gmt":"2023-06-17T18:41:59","guid":{"rendered":"https:\/\/tiproject.online\/index.php\/2023\/06\/17\/xrp-bulls-need-a-return-to-0-48-to-avoid-a-fifth-successive-loss\/"},"modified":"2023-06-17T15:41:59","modified_gmt":"2023-06-17T18:41:59","slug":"xrp-bulls-need-a-return-to-0-48-to-avoid-a-fifth-successive-loss","status":"publish","type":"post","link":"https:\/\/tiproject.online\/index.php\/2023\/06\/17\/xrp-bulls-need-a-return-to-0-48-to-avoid-a-fifth-successive-loss\/","title":{"rendered":"XRP Bulls Need a Return to $0.48 to Avoid a Fifth Successive Loss"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div>\n<h3 id=\"key-insights\">Key Insights:<\/h3>\n<ul>\n<li><strong>On Friday, XRP bucked the broader market trend for a second session, falling by 0.93% to end the day at $0.47549.<\/strong><\/li>\n<li><strong>Investor sentiment toward the ongoing SEC v Ripple case continued to weigh.<\/strong><\/li>\n<li><strong>The technical indicators send bearish signals, bringing sub-$0.45 into view.<\/strong><\/li>\n<\/ul>\n<p>On Friday, <a href=\"https:\/\/www.fxempire.com\/crypto\/ripple\">XRP<\/a>\u00a0fell by 0.93%. Following a 0.01% decline on Thursday, XRP ended the day at $0.47549. The bearish session left XRP short of the $0.50 handle for the second consecutive session.<\/p>\n<p>After a mixed start to the day, XRP rose to a mid-morning high of $0.48262. Falling short of the First Major Resistance Level (R1) at $0.4875, XRP fell to a late morning low of $0.4550. XRP fell through the First Major Support Level (S1) at $0.4700 and the Second Major Support Level (S2) at $0.4601 before a late recovery to end the day at $0.47549.<\/p>\n<\/div>\n<\/div>\n<div>\n<div>\n<h2 id=\"investor-angst-over-the-sec-v-ripple-case-weighed\">Investor Angst over the SEC v Ripple Case Weighed<\/h2>\n<p>It was a relatively quiet Friday session. There were no updates from the ongoing\u00a0<a href=\"https:\/\/www.fxempire.com\/news\/article\/crypto-investors-bet-on-xrp-while-the-broader-market-struggles-846438\" target=\"_blank\" rel=\"noopener noreferrer\">SEC v Ripple<\/a>\u00a0case to distract investors. However, a shift in sentiment toward the SEC v Ripple case left XRP on the back foot through the morning session.<\/p>\n<p>Hopes for an SEC settlement to prevent the release of the William Hinman <a href=\"https:\/\/www.fxempire.com\/forecasts\/article\/xrp-bulls-to-target-0-55-as-investors-await-the-hinman-documents-1350704\" target=\"_blank\" rel=\"noopener noreferrer\">speech-related documents<\/a> vanished this week. Significantly, the speech-related documents failed to draw US lawmaker scrutiny or put SEC Chair Gary Gensler on the defensive.<\/p>\n<p>While sentiment toward the SEC v Ripple case dragged, US economic indicators <a href=\"https:\/\/www.fxempire.com\/forecasts\/article\/btc-bulls-target-a-return-to-27500-on-easing-recessionary-fears-1355228\">provided<\/a> afternoon support but not enough to prevent a session loss.<\/p>\n<\/div>\n<\/div>\n<div>\n<div>\n<h2 id=\"the-day-ahead\">The Day Ahead<\/h2>\n<p>It is a quiet Saturday session, with no US economic indicators or Court rulings for investors to consider. The lack of <a href=\"https:\/\/www.fxempire.com\/news\/article\/crypto-investors-bet-on-xrp-while-the-broader-market-struggles-846438\" target=\"_blank\" rel=\"noopener noreferrer\">SEC v Ripple<\/a> Court activity will leave investors to consider the disappointing impact of the Hinman speech-related documents on the SEC v Ripple case.<\/p>\n<p>Increased SEC activity and the filings against Binance and <a href=\"https:\/\/www.fxempire.com\/crypto\/exchange\/coinbase\/review\" target=\"_blank\" rel=\"noopener noreferrer\">Coinbase<\/a>\u00a0(<a href=\"https:\/\/www.fxempire.com\/stocks\/coin\" target=\"_blank\" rel=\"noopener noreferrer\">COIN<\/a>) have turned hopes of a Ripple win into concern. A settlement would remove the chance of an SEC appeal in case of a Ripple win. A Ripple win and an SEC appeal would leave the US crypto market in regulatory uncertainty for even longer.<\/p>\n<p>Beyond the SEC v Ripple case, investors should also monitor SEC v Binance and SEC-Coinbase-related chatter.<\/p>\n<h2 id=\"xrp-price-action\">XRP Price Action<\/h2>\n<p>At the time of writing, XRP was down 0.21% to $0.47447. A mixed start to the day saw XRP rise to an early high of $0.47575 before falling to a low of $0.46982.<\/p>\n<figure id=\"attachment_1355238\" aria-describedby=\"caption-attachment-1355238\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<div><figcaption id=\"caption-attachment-1355238\" class=\"wp-caption-text\">XRPUSD 170623 Daily Chart<\/figcaption><h2 id=\"technical-indicators\"><strong>Technical Indicators<\/strong><\/h2>\n<p>The\u00a0<a href=\"https:\/\/www.fxempire.com\/education\/article\/the-complete-guide-to-trend-following-indicators-708117\" target=\"_blank\" rel=\"noopener noreferrer\">EMAs<\/a>\u00a0and the 4-hourly candlestick chart (below) sent bearish signals.<\/p>\n<p>At the time of writing, XRP sat below the 200-day EMA, currently at $0.49198. The 50-day EMA closed in on the 200-day EMA, with the 100-day EMA narrowing to the 200-day EMA. The EMAs delivered bearish signals.<\/p>\n<p>A move through R1 ($0.4871) and the 200-day EMA ($0.49198) would give the bulls a run at the 50-day EMA ($0.49676) and R2 ($0.4987). However, failure to move through the 200-day ($0.49198) would leave S1 ($0.4595) in view. A move through the 50-day EMA would send a bullish signal.<\/p>\n<figure id=\"attachment_1355239\" aria-describedby=\"caption-attachment-1355239\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<div><figcaption id=\"caption-attachment-1355239\" class=\"wp-caption-text\">XRPUSD 170623 4 Hourly Chart<\/figcaption><p><strong><em>Resistance &amp; Support Levels<\/em><\/strong><\/p>\n<p>XRP needs to avoid the $0.4710 <a href=\"https:\/\/www.fxempire.com\/education\/article\/support-and-resistance-pivot-analysis-822845\" target=\"_blank\" rel=\"noopener noreferrer\">pivot<\/a>\u00a0to target the First Major Resistance Level (R1) at $0.4871. A move through the Friday high of $0.48262 would signal an extended breakout session. However, SEC v Ripple chatter and the crypto news wires must support a breakout session.<\/p>\n<p>In the case of an extended rally, XRP would likely test the Second Major Resistance Level (R2) at $0.4987 and resistance at $0.50. The Third Major Resistance Level (R3) sits at $0.5263.<\/p>\n<p>A fall through the pivot would bring the First Major Support Level (S1) at $0.4595 into play. However, barring another risk-off-fueled sell-off, XRP should avoid sub-$0.45 and the Second Major Support Level (S2) at $0.4434. The Third Major Support Level (S3) sits at $0.4158.<\/p>\n<figure id=\"attachment_1355240\" aria-describedby=\"caption-attachment-1355240\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<p><figcaption id=\"caption-attachment-1355240\" class=\"wp-caption-text\">XRPUSD 170623 Hourly Chart<\/figcaption><\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.fxempire.com\/forecasts\/article\/xrp-bulls-need-a-return-to-0-48-to-avoid-a-fifth-successive-loss-1355236\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Key Insights: On Friday, XRP bucked the broader market trend for a second session, falling by 0.93% to end the day at $0.47549. Investor sentiment toward the ongoing SEC v Ripple case continued to weigh. The technical indicators send bearish signals, bringing sub-$0.45 into view. On Friday, XRP\u00a0fell by 0.93%. Following a 0.01% decline on Thursday, XRP ended the day at $0.47549. The bearish session left XRP short of the $0.50 handle for the second consecutive session. After a mixed start to the day, XRP rose to a mid-morning high of $0.48262. Falling short of the First Major Resistance Level (R1) at $0.4875, XRP fell to a late morning low of $0.4550. XRP fell through the First Major Support Level (S1) at $0.4700 and the Second Major Support Level (S2) at $0.4601 before a late recovery to end the day at $0.47549. Investor Angst over the SEC v Ripple Case Weighed It was a relatively quiet Friday session. There were no updates from the ongoing\u00a0SEC v Ripple\u00a0case to distract investors. However, a shift in sentiment toward the SEC v Ripple case left XRP on the back foot through the morning session. Hopes for an SEC settlement to prevent the release of the William Hinman speech-related documents vanished this week. Significantly, the speech-related documents failed to draw US lawmaker scrutiny or put SEC Chair Gary Gensler on the defensive. While sentiment toward the SEC v Ripple case dragged, US economic indicators provided afternoon support but not enough to prevent a session loss. The Day Ahead It is a quiet Saturday session, with no US economic indicators or Court rulings for investors to consider. The lack of SEC v Ripple Court activity will leave investors to consider the disappointing impact of the Hinman speech-related documents on the SEC v Ripple case. Increased SEC activity and the filings against Binance and Coinbase\u00a0(COIN) have turned hopes of a Ripple win into concern. A settlement would remove the chance of an SEC appeal in case of a Ripple win. A Ripple win and an SEC appeal would leave the US crypto market in regulatory uncertainty for even longer. Beyond the SEC v Ripple case, investors should also monitor SEC v Binance and SEC-Coinbase-related chatter. XRP Price Action At the time of writing, XRP was down 0.21% to $0.47447. A mixed start to the day saw XRP rise to an early high of $0.47575 before falling to a low of $0.46982. XRPUSD 170623 Daily ChartTechnical Indicators The\u00a0EMAs\u00a0and the 4-hourly candlestick chart (below) sent bearish signals. At the time of writing, XRP sat below the 200-day EMA, currently at $0.49198. The 50-day EMA closed in on the 200-day EMA, with the 100-day EMA narrowing to the 200-day EMA. The EMAs delivered bearish signals. A move through R1 ($0.4871) and the 200-day EMA ($0.49198) would give the bulls a run at the 50-day EMA ($0.49676) and R2 ($0.4987). However, failure to move through the 200-day ($0.49198) would leave S1 ($0.4595) in view. A move through the 50-day EMA would send a bullish signal. XRPUSD 170623 4 Hourly ChartResistance &amp; Support Levels XRP needs to avoid the $0.4710 pivot\u00a0to target the First Major Resistance Level (R1) at $0.4871. A move through the Friday high of $0.48262 would signal an extended breakout session. However, SEC v Ripple chatter and the crypto news wires must support a breakout session. In the case of an extended rally, XRP would likely test the Second Major Resistance Level (R2) at $0.4987 and resistance at $0.50. The Third Major Resistance Level (R3) sits at $0.5263. A fall through the pivot would bring the First Major Support Level (S1) at $0.4595 into play. However, barring another risk-off-fueled sell-off, XRP should avoid sub-$0.45 and the Second Major Support Level (S2) at $0.4434. The Third Major Support Level (S3) sits at $0.4158. XRPUSD 170623 Hourly Chart [ad_2] Source link<\/p>\n","protected":false},"author":1,"featured_media":25980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-26174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/26174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=26174"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/26174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/25980"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=26174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=26174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=26174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}