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Ripple Price Prediction: XRP Holds $0.46 Support Level – What’s Next?

Rida Fatima Crypto/Tech Content Writer Author expertise
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Ripple (XRP) stands firm against market pressure. Its price holds steady at the $0.46 threshold, giving bulls hope. This stability hints at a possible upward move for XRP.

July could bring good news for XRP, as two significant events might boost its price: the SEC/Ripple case, which is speculated to end in July, and the PostFinance listing. Given this positive outlook, can Ripple’s XRP push through the $0.5 resistance and conquer new heights? Let’s explore the possibilities.

Ripple (XRP) Price Action

XRP played in the green zone for four consecutive trading days after hitting Friday’s low of $0.468. While the bears have prevailed today, with XRP trading losing 2.61% of its gains, it still trades above $0.46. 

Ripple (XRP) trades at $0.4752. The daily chart shows the cryptocurrency is approaching the $0.46 support, with a 10% price decline in the last 30 days.

However, July has historically been a strong month for XRP, with substantial gains recorded in the past two years

Ripple Price Prediction: XRP Holds $0.46 Support Level - What's Next?

In July 2022, Ripple’s XRP rose from $0.30 to $0.55. It witnessed a similar surge in July 2023, taking the price from $0.45 to $0.90, representing an increase of more than 100% within a few days.

XRP is currently at the same level it was last year before the 100% rally. Market participants are hopeful this level will precede a significant rally, compensating for June’s bearish performance. 

XRP Poised for Breakout: Bullish Signals Emerge

Since last year, Ripple’s XRP has held firmly above the significant $0.40 level, preventing further drops.

Ripple Price Prediction: XRP Holds $0.46 Support Level - What's Next?

As the chart above depicts, XRP is close to breaking its long-term bearish trendline, which could propel it to $0.5. If it makes it to $0.5, a little push from the bulls could see XRP reclaiming its yearly high of $0.74

The MACD is above its signal line, indicating potential short-term upward momentum. The RSI at 43 shows that XRP isn’t overbought yet, and there’s room for further price increases.

Overall, XRP’s current market setup looks promising; the strong support and potential breakout make it an attractive option for investors. However, the cryptocurrency market is volatile, and touted trajectories may change unexpectedly.

PostFinance Boost: XRP Gains Swiss Banking Support

PostFinance, a major Swiss financial institution, now offers trading and custody for XRP and other assets

This move significantly increases XRP’s accessibility and recognition in the Swiss market. It opens new markets, reinforces XRP’s position in the crypto world, and could boost investor confidence in XRP, leading to a significant price increase. 

Ripple’s recent legal developments may positively impact XRP’s price. The company filed a notice supporting its case against the SEC. In the filing, Ripple argues that its XRP sales don’t warrant harsh penalties. A recent ruling in the Binance case backs this stance.

Part of the filing reads, “On June 28, 2024, the U.S. District Court for the District of Columbia issued a memorandum Opinion and Order inSEC v. Binance Holdings, Ltd., No. 1:23-cv-01599-ABJ-ZMF (Exhibit A). Binancegranted in part and denied in part a motion to dismiss the SEC’s claims that sales of certain digital assets were sales of unregistered securities. It found persuasive and followed the Court’s summary judgment opinion in this case, extending its reasoning to apply to secondary-market sales of one of the assets at issue.”

The SEC has reduced its proposed penalty from $2 billion to $102.6 million. Ripple claimed that the suitable amount shouldn’t be more than $10 million.

This softened approach could be seen as favorable for Ripple. Moreover, many speculate that the long-running lawsuit could end in July. If the SEC lawsuit ends in Ripple’s favor, it could trigger bullish momentum for XRP, propelling it to new highs.

Pepe Unchained: A New Meme Coin with Layer-2 Ambitions

While we await XRP’s groundbreaking move, this new meme coin, Pepe Unchained, could be worth considering for investors looking to diversify. Pepe Unchained (PEPU) is making waves in the meme coin world with its presale

Unlike most meme coins, PEPU is not just another funny money project; it aims to create a Layer-2 blockchain for meme coins on Ethereum.

Features of Pepe Unchained

This Layer-2 solution addresses common issues in the meme coin space. PEPU promises faster transactions and lower fees than Ethereum. It could be 100 times quicker, making meme coin trading smoother. This promise has attracted many eager participants.

The project has shown strong presale performance, raising over $2 million in 18 days. Early investors can buy tokens at a discount price of $0.008227. Additionally, PEPU offers a double staking protocol with high yields, potentially up to 894% per year. 

Eager investors have already staked over 178 million tokens, showing excitement about this project. PEPU is building a solid community; with thousands of followers on social media, it’s gaining attention from influencers and ranking sites.

Moreover, top influencers have noticed the project, some describing it as a “very cool” meme coin. Pepe Unchained’s unique approach of combining meme coin fun with serious blockchain technology makes it a crypto project to watch in 2024.

However, as with all investments, potential buyers should research before committing funds.

Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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Rida Fatima Crypto/Tech Content Writer

Rida Fatima Crypto/Tech Content Writer

Rida is a Tech freelancer and she’s a technology and cryptocurrency geek but also writes intuitive articles on other topics. Rida's motto is ‘‘Research Deeply, Test Thoroughly, and Write Simply.