Ripple Price Prediction: XRP Finds Support Above 200-DAY SMA – Will It Hold?

Ripple XRP has posted significant gains lately, holding above a critical threshold. Its recent performance is partly attributed to the Ripple VS. SEC lawsuit ruling, where the court imposed a $125 million fine instead of $2 billion.

Following this ruling, XRP's price quickly shot up, climbing from around $0.42 to $0.63, a more than 46% increase. Although XRP has lost some gains, it still holds around $0.569, above the 200-day SMA. This level currently acts as support, signaling a possible consolidation phase.

Despite the minor correction, XRP remains bullish, up 13.82% over the past week, with higher lows and highs on the daily chart. Given the bullish setup, can the $0.56 provide enough foundation for more rallies?

Let's consider the following analysis for insights into XRP's next possible move.

Crypto Analysts Bullish on XRP's Future Following Legal Victory

Many expert analyses paint a bullish picture; X user CJ believes XRP is poised for growth, expecting a push towards $0.658.

I like $XRP in this FVG zone for longs targeting 0.658 pic.twitter.com/3veGOzeyxZ

- CJ (@CJ900X) August 12, 2024

Also, JAVON MARKS compares XRP's recent price trends to its 2016 and 2017 patterns that preceded a massive price surge. According to the analyst, XRP can surge more than 62,000% after this pattern.

$XRP has replicated a similar Bullish Pattern, in the form of a Hidden Bull Divergence, that took place in 2016-2017, occurring just before an over 62,100% climb.

The Bullish Pattern looks to be complete, and XRP may be right in the early stages of its next colossal climb ... pic.twitter.com/CKhlsfOJ3o

- JAVONMARKS (@JavonTM1) August 10, 2024

Alex Clay points out a symmetrical triangle" formation, suggesting it might be an opportune moment for investors. He believes this pattern often precedes significant price movements, adding to the bullish sentiment.

Furthermore, Doctor Profit, another seasoned trader, sees the court ruling as a game-changer for XRP. He highlights the newfound regulatory clarity as a major catalyst for growth.

$XRP - The Big Report:

Everyone who knows me understands that I'm a major investor in XRP. This report is going to lay out the facts and show you exactly where we're heading next.

XRP is a masterpiece for the long term. If you're thinking of making a quick buck with day trading... pic.twitter.com/w6ww9uSE6v

- Doctor Profit (@DrProfitCrypto) August 7, 2024

I expect targets way above $1 latest by Q1 2025. When XRP pulls a 2017 move and hits the same Fibonacci levels we have seen in 2017, we're looking at a potential top of $16," Doctor Profit.

In addition, the analyst speculates that a potential XRP ETF could further boost the token's value. CrediBULL Crypto is optimistic about the crypto asset, predicting a mega run." The analysts believe the legal victory could pave the way for new all-time highs.

Unlike many cryptocurrencies, XRP missed the 2021 bull run due to legal uncertainties. Consequently, CrediBull Crypto argues that XRP's indicators are not just bullish but extremely bullish."

Moreover, the experts note that resolving the SEC lawsuit removes a significant barrier to XRP's growth. This freedom from legal pressure could attract more investors and institutional interest.

XRP's Bullish Signals: Can It Hold Above the 200-Day SMA?

XRP currently sits above both the 50-day and 200-day Simple Moving Averages (SMA). This positioning suggests that XRP is in a strong uptrend, with short-term and long-term momentum favoring the bulls.

Furthermore, the Price Volume Trend (PVT) indicator stands above 1.63 billion, indicating intense buying pressure.In addition, the Supertrend indicator is flashing a buy signal, confirming the bullish sentiment surrounding XRP.

Moreover, the MACD histogram shows fading red bars. This suggests a weakening bearish momentum, potentially setting the stage for a bullish crossover.

Can XRP Sustain This Support Level?

XRP shows green signals today, but can it maintain its position above the 200-day SMA? Multiple indicators' positive signals suggest a high chance of holding this level.

If XRP continues to hold $0.56, it could set the stage for further gains. The next resistance levels to watch would be previous swing highs at $0.65.

While XRP shows promise, savvy investors always consider alternatives. Among the emerging alternatives, Crypto All Stars is gaining significant traction.

Crypto All-Stars: A New Hub for Memecoin Staking

Crypto All-Stars has introduced an innovative approach that creates a centralized platform for various popular meme tokens. The concept revolves around a MemeVault" where holders can stake their favorite memecoins and earn rewards.

Crypto All-Stars introduces its native token, $STARS, which is crucial in determining reward rates.

Why Investors Should Consider This Presale

Crypto All-Stars offers a unique opportunity for meme coin enthusiasts. The project allows holders of popular tokens like PEPE, DOGE, and BONK to lock their assets and earn rewards.

The reward system depends on the number of $STARS tokens an investor holds.

Further, Crypto All-Stars creates an incentive for early participation in the presale. Early investors can stake these tokens to earn an impressive APY of 5,366%. However, this rate will decrease as more tokens are staked, meaning early adopters can earn higher returns.

The project's roadmap outlines a clear path forward. It begins with the presale and staking contract launch and then proceeds to the token launch on decentralized exchanges.

The final phase introduces the MemeVault Network, bringing the project's core concept to life.

Crypto All-Stars stands out by offering a platform that unifies various memecoins. This concept increases its allure to investors and could see $STARS becoming one of the biggest memecoins in the crypto market.

Each $STARS token trades at as low as $0.00138, but the price will increase within the next 24 hours. Already, the presale has raised $348,000, showing significant investor interest.

You can buy $STARS via the presale website using BNB coins. Ready to dive into the world of meme coin staking? Visit the Crypto All-Stars website today to learn more and participate in the presale.

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