"Doha Negotiations Boost Rebound"...XRP (Ripple) on the Verge of Retesting $1.3

▲ XRP/AI Generated Image

XRP has recovered the $1.10 level, riding the wave of risk asset rebound amid news of progress in indirect negotiations between the US and Iran in Doha, with the breakthrough of $1.15 emerging as a watershed moment for a re-challenge of $1.30.

According to cryptocurrency media outlet Coingape on July 2 (local time), XRP rebounded to around $1.10, rising 5% over 24 hours on Thursday. The total cryptocurrency market capitalization increased by 4.72% to $2.14 trillion, and Bitcoin (BTC) reclaimed $61,000 after testing $58,000 this week.

The news of indirect negotiations between the United States and Iran influenced the market sentiment recovery. Qatar announced that indirect technical negotiations between the two sides in Doha have concluded, and positive progress has been made on matters related to the memorandum of understanding. Consequently, concerns about energy supply disruptions have partially eased, with international oil prices falling below $68.

However, the negotiations have not led to a final agreement. The media reported that Iran continues to mention the possibility of new attacks, and Washington is also focusing on future nuclear negotiation issues, leaving uncertainty. As geopolitical tensions have not been fully resolved, the XRP rebound needs to be interpreted restrictively within the overall relief trend of risk assets.

In terms of technical trends, buying power is gaining strength again. XRP secured support above $1.06 and then rose to $1.105, strengthening its 4-hour chart recovery structure. The Moving Average Convergence Divergence (MACD) has crossed above its signal line, and the histogram has turned positive, indicating increasing buying pressure. The Relative Strength Index (RSI) climbed to 65, approaching a strong momentum zone.

The key gateway is $1.15. The media analyzed that while XRP is moving within a short-term upward channel, strengthening buyer control, a clean breakthrough of $1.15 is necessary to confirm a stronger upward trend. If this level is surpassed, the next target moves to $1.20, and with additional momentum, $1.30 comes into the market's next line of sight.

[Article Key Summary]

-XRP recovered the $1.10 level, rising 5% over 24 hours amid news of progress in indirect negotiations between the US and Iran in Doha.

-The cryptocurrency market capitalization increased by 4.72% to $2.14 trillion, and Bitcoin also reclaimed $61,000.

-If XRP breaks through the $1.15 resistance, the $1.30 target could re-emerge via $1.20.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*