{"id":152408,"date":"2023-09-09T00:09:22","date_gmt":"2023-09-08T18:39:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=152408"},"modified":"2023-09-09T00:09:22","modified_gmt":"2023-09-08T18:39:22","slug":"xrp-will-surging-demand-kick-start-a-rally-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xrp-will-surging-demand-kick-start-a-rally-crypto-news\/","title":{"rendered":"XRP: Will surging demand kick-start a rally? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>contributor<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 9, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>XRP remained fully bearish, but multiple indicators pointed to a bullish rebound on the horizon.<\/em><\/li>\n<li><em>The CMF revealed strong capital inflows, while the spot CVD continued to rise rapidly.\u00a0<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/XRP\" data-wpel-link=\"internal\">Ripple\u2019s [XRP]<\/a> remained stuck under a critical Fibonacci level, despite the best bullish attempts at a reversal. August saw XRP flip bearish after price broke the higher low on the daily timeframe.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/ripple-price-prediction\" data-wpel-link=\"internal\">Ripple\u2019s [XRP] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>With <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> registering an uptick in its price over the past 24 hours to trade at $26.1k, this could provide a good opportunity for XRP bulls to push for a rally.<\/p>\n<h4><strong>This Fibonacci level has limited the bullish rally<\/strong><\/h4>\n<div id=\"attachment_341971\" style=\"width: 1916px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341971\" class=\"size-full wp-image-341971\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Ripple XRP price chart on dark background\" width=\"1906\" height=\"1054\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00.png 1906w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00-300x166.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00-1024x566.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00-768x425.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00-1536x849.png 1536w\" data-lazy-sizes=\"(max-width: 1906px) 100vw, 1906px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341971\" class=\"size-full wp-image-341971\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRPUSDT_2023-09-08_09-52-00.png\" alt=\"Ripple XRP price chart on dark background\" width=\"1906\" height=\"1054\" \/><\/a><\/p>\n<p id=\"caption-attachment-341971\" class=\"wp-caption-text\">Source: XRP\/USDT on Trading View<\/p>\n<\/div>\n<p>XRP\u2019s quick recovery from the $0.4 price zone after the sharp drop on 17 August was heralded as the bottom of the deep retracement. However, the bullish rally stalled at the 23.6% Fib level ($0.544).<\/p>\n<p>Bulls have twice been met with mild resistance at the 23.6% Fib level on 20 August and 30 August respectively. Yet, September brought moderate gains for XRP. The on-chart indicators suggested buyers could make another push to break above the 23.6% Fib level.<\/p>\n<p>The Chaikin Money Flow (CMF) indicator surged to +0.24 to reveal the strong capital inflows for XRP over the past week. Although the Relative Strength Index (RSI) stayed under the neutral 50, it moved above the oversold zone to signal modest buying pressure.<\/p>\n<p>The press time price of $0.5 presents a buying opportunity. Short-term traders can target the $0.55 to $0.6 price levels. Another price rejection at the 23.6% Fib level would invalidate this idea, and we could see a strong downward push toward $0.45.<\/p>\n<h4><strong>Surging CVD hints at a strong bullish rebound<\/strong><\/h4>\n<div id=\"attachment_341972\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341972\" class=\"size-full wp-image-341972\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1800\" height=\"842\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate-300x140.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate-1024x479.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate-768x359.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate-1536x719.png 1536w\" data-lazy-sizes=\"(max-width: 1800px) 100vw, 1800px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341972\" class=\"size-full wp-image-341972\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/XRP_CVD_Funding-Rate.png\" alt=\"\" width=\"1800\" height=\"842\" \/><\/a><\/p>\n<p id=\"caption-attachment-341972\" class=\"wp-caption-text\">Source: Coinalyze<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">Realistic or not, here\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">XRP\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n<hr \/>\n<p>On-chain data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/ripple\/funding-rate\/\" data-wpel-link=\"external\">Coinalyze<\/a> showed that XRP\u2019s Spot CVD has been on a rapid rise since 17 August. This revealed a strong demand for XRP from market speculators, with the possibility of catching another bullish wave.<\/p>\n<p>Buyers can also be encouraged by the positive funding rates in September. Together, they pointed to favorable conditions for bulls to initiate another price rally.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>contributor Posted: September 9, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. XRP remained fully bearish, but multiple indicators pointed to a bullish rebound on the horizon. The CMF revealed strong capital inflows, while the spot CVD continued to rise rapidly.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":152409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-152408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=152408"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152408\/revisions"}],"predecessor-version":[{"id":152415,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152408\/revisions\/152415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/152409"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=152408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=152408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=152408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}