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

▲ XRP/AI Generated Image

XRP is raising expectations to re-challenge the $1.25 mark, leveraging a SuperTrend buy signal that appeared on its 4-hour chart for the first time 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, the first since mid-June, coincided with a recovery base formed around $1.08 to $1.10 after last week's selling pressure.

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

The SuperTrend indicator has also caught trend reversal signals even in bear markets. According to U.Today, the indicator accurately pinpointed two major short-term declines in XRP's past, falling by 19% and 16% respectively, before they occurred, warning of the need for profit-taking. This bullish reversal was interpreted as a sign that selling pressure within 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 buying liquidity inflow. After that, it must pass through the intermediate resistance zone between $1.13 and $1.15, which is an area where short-term profit-taking may occur. The final target is $1.25, and if it settles above this price, it would mean 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 the upward expectation remains valid as long as XRP maintains above this zone. Conversely, if it drops below $1.04, the $1.25 scenario is invalidated, and the market's 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 transition could open up approximately 14% upside potential.

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

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