XRP Analysis : Key Levels to Watch as Ripple Gains Momentum.
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As of today, the price of **XRP** stands at **$0.39**, with a **24-hour trading volume** of **$1.2 billion**. The cryptocurrency has seen a **1% increase** in the last 24 hours and an impressive **11% rise** over the past week.
On the **daily time frame**, XRP has formed an **ascending price channel**, gaining support from the lower trendline and initiating an upward movement. Currently, the price is facing resistance at the **$0.4** level, leading to short-term consolidation. Should XRP break above **$0.4**, the next hurdles will be the middle trendline of the channel and the **$0.5** mark. Conversely, if XRP is rejected at the **$0.4** resistance, the channel's lower boundary will serve as a significant support level.
Short-term targets to keep an eye on include **$0.43**, **$0.45**, **$0.47**, and ultimately **$0.5**. Additionally, Ripple recently moved **100 million XRP**, indicating heightened interest from large investors, while XRP has also surpassed both **BTC** and **ETH** in trading volume within Australia.
Conclusion :
XRP is showing promising signs of upward movement, especially if it can breach the **$0.4 resistance**.
Advice :
Traders should closely monitor the price action around the **$0.4** level. Establishing stop-loss orders below the lower boundary of the channel can help manage risk. Given the increasing trading volume and whale interest, maintaining a cautious but optimistic approach may yield opportunities for profit.
