XRP (Ripple), SuperTrend ON...Retrying to Break $1.25

▲ XRP/AI-generated image

XRP is raising expectations for a re-challenge of $1.25, leveraging a SuperTrend buy signal that appeared for the first time on its 4-hour chart since mid-June.

According to crypto media outlet U.Today on July 3 (local time), crypto analyst Ali Martinez analyzed that the SuperTrend indicator on XRP's 4-hour chart issued a buy signal overnight. This signal appeared for the first time since mid-June and coincided with a recovery base formed around $1.08 to $1.10 after last week's sell-off.

According to historical statistics presented by Martinez, if the SuperTrend turns green, XRP could head towards $1.25. This range indicates an upside potential of approximately 14%. U.Today reported that there have been past instances where XRP's price quickly rose by 14% after similar buy signals.

The SuperTrend indicator has also caught trend reversal signals in bearish markets. According to U.Today, the indicator accurately pinpointed two major short-term declines in XRP's past, warning of the need for profit-taking before drops of 19% and 16% respectively. This bullish turn has been interpreted as a sign that selling pressure in the exchange order book has been exhausted.

For the bullish scenario to materialize, three key hurdles must be overcome. First, a strong breakout above $1.10 is needed to confirm actual inflow of buying liquidity. After that, it must pass through the intermediate resistance zone between $1.13 and $1.15, which is a segment where short-term profit-taking might occur. The final target is $1.25, and settling above this price would signify that the downtrend has finally been broken.

The defense line for the bullish scenario is the support zone between $1.00 and $1.04. It is explained that as long as XRP maintains above this zone, the upward expectation remains valid. Conversely, if it falls below $1.04, the $1.25 scenario is invalidated, and market attention shifts back to the psychological support level of $1.00.

[Article Key Summary]

-XRP's potential to challenge $1.25 has been raised with the first SuperTrend buy signal appearing on its 4-hour chart since mid-June.

-Martinez analyzed that a SuperTrend green turn could open up approximately 14% upside potential.

-Breaking above $1.10, passing the resistance zone between $1.13 and $1.15, and settling at $1.25 were presented as key hurdles.

*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.*