XRP Explodes Above $0.60: Over 85% of Ripple Traders Bullish, $0.74 Incoming?

XRP is edging higher at press time, up nearly 10% over the past week. As long as support remains at $0.55, the coin can retest $0.74

Dalmas Ngetich•Monday, September 30, 2024•1 min read

XRP is leading the bullish pack, looking at the performance over the last trading day. At press time, the seventh most valuable is above $0.60, breaking higher in a buy trend continuation formation. Even though there were concerns after the extended consolidation from September 14 to 27, the breakout over the weekend comes as a relief. Technically, traders can consider riding the trend with targets at $0.66. There will be more opportunities above $0.66 if there are even more rapid gains in the coming sessions. Considering this state of affairs, the immediate support will be at around $0.57.

As prices rise, engagement is also trending upward. At press time, XRP is up nearly 10% over the past week as engagement spikes above $2.4 billion. Technically, as prices increase, more traders will position themselves to ride the emerging trend.

XRP Daily Chart for September 30

Traders are closely watching out for the following XRP and Ripple news:

Rising crypto prices and the rejection of bears over the past two weeks could explain why over 85% of XRP traders are bullish. Only 15%, according to a CMC poll, are bearish on the coin.
Considering its core mission of driving finance and promoting inclusion in a cheap and efficient way, XRP, used by Ripple’s ODL, has been recognized in its remittance role by SWIFT.
XRP Price Analysis

XRP/USD is trending higher at spot rates.

After days of consolidation, the leg up on September 28 confirms the presence of buyers.

Notice that the leg up is with rising trading volume, pointing to strength and trader interest—an endorsement for bulls.

Accordingly, from the daily chart, every low above $0.57, the primary support, may offer traders an entry.

The first target would be $0.66 and 2024 highs of around $0.74.