XRP Price Prediction: Will Security Measures Propel Prices Above $2.90?

As cryptocurrency adoption surges, so does the sophistication of scams targeting investors.

From hijacking networks to creating urgent security alerts, fraudsters employ advanced tactics to deceive users and steal assets. Recently, crypto attorney and XRP advocate John Deaton shared his personal experience with such a scam, highlighting the critical need for robust security measures. Understanding these threats not only safeguards your investments but could also influence XRP’s market confidence and price trajectory.

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XRP/USD

How Scammers Exploit Fear and Technology

Scammers manipulate fear and urgency to trick users into revealing sensitive information. In Deaton’s case, hackers infiltrated his WiFi network, fabricated a security alert, and impersonated Uphold Support to access his crypto accounts.

  • Network Hijacking: Hackers took control of Deaton’s WiFi, monitoring his online activity.

  • Fake Security Alerts: They generated urgent messages prompting immediate action.

  • Impersonation of Support: Posing as Uphold representatives, they coaxed him into sharing login details.

“The hackers hijacked my WiFi and were online with me, waiting for me to enter my password so they could steal my crypto,” Deaton recounted.

This incident underscores how scammers blend technical prowess with psychological manipulation to breach accounts.

Key Security Measures to Protect Your Crypto

Deaton’s experience offers valuable lessons for all crypto investors:

  • Avoid Suspicious Links: Never click on unsolicited emails or messages. Always access platforms directly through official websites.

  • Enable Two-Factor Authentication (2FA): Adding an extra layer of security makes unauthorized access significantly harder.

  • Safeguard Sensitive Information: Never share passwords or seed phrases, even with supposed support staff.

  • Use Secure Networks: When accessing crypto accounts, use trusted networks or cellular data to prevent interception.

  • Stay Informed: Regularly update yourself on common scam tactics and security best practices.

By implementing these measures, investors can significantly reduce the risk of falling victim to scams, thereby maintaining market confidence—a factor that can positively influence XRP’s price.

XRP Price Analysis: Testing Critical Resistance Levels

Current Price: $2.44 (up 0.98%)
Market Cap: $140.22 billion
24-Hour Trading Volume: $5.52 billion

XRP is consolidating below a key resistance level at $2.53, hindered by a descending trendline that has limited upward movement recently. Breaking above this resistance could signal a bullish trend, targeting the next levels at $2.71 and $2.90.

  • Immediate Resistance: $2.53 (descending trendline)

  • Next Targets: $2.71 and $2.90

On the support side, immediate levels are at $2.36, followed by $2.28 and $2.23. XRP is trading above its 50-day Exponential Moving Average (EMA) of $2.35, indicating short-term bullish momentum. However, it remains just below the 200-day EMA of $2.52, reinforcing the significance of the $2.53 resistance level.

XRP Price Chart - Source: Tradingview
XRP Price Chart – Source: Tradingview

  • Immediate Support: $2.36

  • Further Support Levels: $2.28 and $2.23

The Relative Strength Index (RSI) stands at 55, reflecting moderate bullish sentiment without indicating overbought conditions. A sustained move above $2.53 could propel XRP towards $2.90, especially if market confidence improves due to enhanced security awareness among investors.

Key Insights:

  • Resistance Levels: Watch for a break above $2.53 to confirm bullish momentum.

  • Support Zones: Holding above $2.36 is crucial to prevent a bearish turn.

  • Technical Indicators: RSI at 55 suggests room for upward movement; trading above the 50-day EMA supports a positive outlook.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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