{"id":607363,"date":"2024-05-10T19:30:01","date_gmt":"2024-05-10T19:30:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=607363"},"modified":"2024-06-11T09:15:16","modified_gmt":"2024-06-11T09:15:16","slug":"xrp-price-falling-pennant","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/xrp-price-falling-pennant\/","title":{"rendered":"Crypto Analyst Says XRP Price Can Break Out From Falling Pennant, But Can It Reach $1?"},"content":{"rendered":"

The XRP price, like the rest of the crypto industry, continues to struggle against the bearish winds<\/a> that have taken over. This has seen its price consistently decline in spite of bulls\u2019 best efforts to prop it up. However, it seems all hope is not lost for the altcoin as expectations are that it will recover soon enough. More specifically, crypto analyst WalterMoon is particularly bullish on the XRP price<\/a>, noting that it is possible that it will break out of its current pennant.<\/p>\n

Analyzing The XRP Price Movement<\/h2>\n

To try and pinpoint where the XRP price is headed, the crypto analyst first analyzed<\/a> the movement of the altcoin over the last few weeks. This analysis showed a consistent breakout trend, albeit short-lived, that suggests that the altcoin could be getting ready to mount another one soon.<\/p>\n

Related Reading: Bitcoin Whales Lose Interest, Is This A Precursor For A Crash To $50,000?<\/a><\/div>\n

One of these breakout trends took place last month in May when the price had entered a failing channel. Eventually, the XRP price was able to muster enough momentum<\/a>, even after breaking below its support line below $0.5 and then made a run for $0.52.<\/p>\n

Again, this is seen later in the month when the price once again fell into a falling channel. This decline saw it fall below support. But like the previous time, it was able to move upward inside this falling channel and eventually broke out of the channel.<\/p>\n

\"XRP<\/p>\n

Source: Tradingview.com<\/a><\/pre>\n
This trend was recorded a number of times in the month of May, showing XRP\u2019s<\/a> strength in the market right now. However, the altcoin has fallen inside another falling channel once again, but can it maintain its breakout trend from last month?<\/p>\n
Gathering Support Inside A Pennant<\/h2>\n
Crypto analyst WalterMoon has identified the XRP price inside a falling channel and as it continues to decline inside this pennant, the price has taken hit after hit<\/a>. But given the performance from the last month, Moon believes there is still upside to come for XRP.<\/p>\n
Related Reading: Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here\u2019s Why<\/a><\/div>\n
According to the analyst, there is a possibility that the altcoin<\/a> can exit its current pennant by bouncing off the support at $0.533. In this case, it could send the price as high as $0.54, like it did the previous times. \u201cNow, I think that Ripple can bounce up from support line to $0.5330, thereby exiting from pennant,\u201d the analyst said.<\/p>\n
Despite the bullish outlook, WalterMoon\u2019s target is still conservative for all intents and purposes. The target still remains above the $0.54 level, which, unfortunately, doesn\u2019t show much expectation for the XRP price to cross $1<\/a>.<\/p>\n
\"XRP<\/p>\n
XRP trending at $0.51 | Source: XRPUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from CoinJournal, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The XRP price, like the rest of the crypto industry, continues to struggle against the bearish winds that have taken over. This has seen its price consistently decline in spite of bulls\u2019 best efforts to prop it up. However, it seems all hope is not lost for the altcoin as expectations are that it will recover soon enough. More specifically, crypto analyst WalterMoon is particularly bullish on the XRP price, noting that it is possible that it will break out of its current pennant. Analyzing The XRP Price Movement To try and pinpoint where the XRP price is headed, the crypto analyst first analyzed the movement of the altcoin over the last few weeks. This analysis showed a consistent breakout trend, albeit short-lived, that suggests that the altcoin could be getting ready to mount another one soon. Related Reading: Bitcoin Whales Lose Interest, Is This A Precursor For A Crash To $50,000? One of these breakout trends took place last month in May when the price had entered a failing channel. Eventually, the XRP price was able to muster enough momentum, even after breaking below its support line below $0.5 and then made a run for $0.52. Again, this is seen later in the month when the price once again fell into a falling channel. This decline saw it fall below support. But like the previous time, it was able to move upward inside this falling channel and eventually broke out of the channel. Source: Tradingview.com This trend was recorded a number of times in the month of May, showing XRP\u2019s strength in the market right now. However, the altcoin has fallen inside another falling channel once again, but can it maintain its breakout trend from last month? Gathering Support Inside A Pennant Crypto analyst WalterMoon has identified the XRP price inside a falling channel and as it continues to decline inside this pennant, the price has taken hit after hit. But given the performance from the last month, Moon believes there is still upside to come for XRP. Related Reading: Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here\u2019s Why According to the analyst, there is a possibility that the altcoin can exit its current pennant by bouncing off the support at $0.533. In this case, it could send the price as high as $0.54, like it did the previous times. \u201cNow, I think that Ripple can bounce up from support line to $0.5330, thereby exiting from pennant,\u201d the analyst said. Despite the bullish outlook, WalterMoon\u2019s target is still conservative for all intents and purposes. The target still remains above the $0.54 level, which, unfortunately, doesn\u2019t show much expectation for the XRP price to cross $1. XRP trending at $0.51 | Source: XRPUSDT on Tradingview.com Featured image from CoinJournal, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[167,6664,26263,14690,3680,17209,4531,83637,13172,10972,78763],"class_list":["post-607363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nCrypto Analyst Says XRP Price Can Break Out From Falling Pennant, But Can It Reach $1?<\/title>\n<meta name=\"description\" content=\"The XRP price, like the rest of the crypto industry, continues to struggle 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Says XRP Price Can Break Out From Falling Pennant, But Can It Reach $1?","url":"http:\/\/ktsl888.com\/news\/ripple\/xrp-price-falling-pennant\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ripple\/xrp-price-falling-pennant\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP-Price.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP-Price.jpeg?fit=500%2C333"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","crypto","crypto analyst","crypto news","ripple","ripple news","xrp","xrp news","xrp price","xrpusd","xrpusdt"],"dateCreated":"2024-05-10T19:30:01Z","datePublished":"2024-05-10T19:30:01Z","dateModified":"2024-06-11T09:15:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Says XRP Price Can Break Out From Falling Pennant, But Can It Reach $1?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/xrp-price-falling-pennant\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/xrp-price-falling-pennant\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/XRP-Price.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/XRP-Price.jpeg?fit=500%2C333\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"crypto\",\"crypto analyst\",\"crypto news\",\"ripple\",\"ripple news\",\"xrp\",\"xrp news\",\"xrp price\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2024-05-10T19:30:01Z\",\"datePublished\":\"2024-05-10T19:30:01Z\",\"dateModified\":\"2024-06-11T09:15:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP-Price.jpeg?fit=500%2C333","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/607363"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=607363"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/607363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/607371"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=607363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=607363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=607363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}