On July 14th, driven by positive news, Ripple (XRP) surged by 93%, reaching a high of $0.9. However, profit-taking led to a rapid pullback in XRP. The next day (July 15th), XRP fell to an exchange rate of $0.67. Since then, XRP has recovered and bounced back to $0.85, establishing a temporary bottom at that level. XRP 2023.4-2023.7 Daily Price Trend, Source: TradingView. On July 29th, XRP retraced to $0.85 again after a second attempt, but on July 25th, it found support at $0.67 without breaking below it. From a technical perspective, the XRP bull trend is likely to rise by approximately 25% and challenge $0.85 once again. XRP/USDT 4-hour Price Trend, Source: TradingView. Furthermore, the current position of XRP coincides with the middle line of the Bollinger Bands, providing support. This indicates that XRP has dual strong support from the range bottom and the middle line of the Bollinger Bands, making it an attractive buying opportunity for short-term investors. XRP/USDT Daily Price Trend, Source: TradingView. It is worth emphasizing that according to CCData, assets under management (AUM) managed by investment funds related to Ripple increased by 33.2% in July, reaching $65.7 million. This demonstrates positive recognition from investment institutions regarding the fundamental and news aspects of XRP. In the coming months, as long as there are no major negative developments, the upward trend of XRP is expected to continue. However, if significant negative factors or a reversal in the SEC lawsuit were to occur, XRP could inevitably retest the neckline at $0.55. XRP/USDT Daily Price Trend, Source: TradingView.
Ripple Price Prediction: $0.67 Support Holds Strong, XRP Bullish with 25% Upside to $0.85
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