A Critical Level to Maintain for XRP
XRP is currently trading at $2.79, up 3.1% in the last 24 hours and 56% from its yearly low. Its market cap stands at $166 billion, while its trading volume has surged by 70% compared to the previous day, indicating accelerating trader demand amid a renewed bullish sentiment.
These gains follow Ripple’s bounce after hitting a key support level at $2.70, a zone that has served as a foundation since mid-July. Analysts believe XRP must maintain this level to support a potential rebound in the coming days.
An examination of the daily chart shows that XRP’s price has been trading in a descending triangle pattern for seven weeks. This type of configuration, which typically suggests a sustained bearish trend, forms through a succession of lower highs converging toward a horizontal support.
According to this pattern, XRP’s price could now target a move up to $2.96, its most recent low within the triangle. If the bullish momentum remains intact, a breakout beyond this level could trigger a rise to $3.88, representing a 39% target above the current level.
Significant Upside Potential
Several recent factors are fueling XRP’s positive momentum in the coming days:
- The imminent SEC decision on certain XRP-backed ETFs in October could boost investor sentiment, with the chances of approval having risen to over 80%.
- Whales appear to have strengthened their positions during the recent correction, accumulating more than 340 million XRP. This influx of liquidity could stimulate retail trader interest.
- Financial institutions are showing growing interest in XRP, as illustrated by Japanese gaming company Gumi’s planned $17 million acquisition for its treasury.
Given these elements, XRP seems well-positioned to continue its rebound, potentially reaching levels 39% higher in the coming days. Savvy investors would do well to closely monitor the evolution of this blockchain token.
How to Buy XRP on Bitget?
Here’s a quick guide to buying XRP on Bitget using GetAgent to take advantage of these bullish medium-term prospects:
- Registration: Create an account on Bitget.com and complete KYC verification (ID + selfie).
- Deposit: Fund your account with fiat (EUR, USD) via bank card, SEPA transfer (often zero fees), or stablecoins like USDT.
- Spot market: Select the XRP/USDT or XRP/EUR pair in the “Spot” section of Bitget.
- GetAgent: Activate GetAgent to analyze real-time trends. Set up buy orders near the $2.70 support or at the $2.84 breakout. GetAgent automates trades to capture rebounds, leveraging RSI and MACD indicators.
- Purchase: Place a market order (current price) or limit order (e.g., $2.70). Specify the amount and confirm.
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