{"id":22453,"date":"2023-07-21T19:55:15","date_gmt":"2023-07-21T19:55:15","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/heres-why-bulls-have-1-in-sight\/"},"modified":"2023-07-21T19:55:15","modified_gmt":"2023-07-21T19:55:15","slug":"heres-why-bulls-have-1-in-sight","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/heres-why-bulls-have-1-in-sight\/","title":{"rendered":"here&#8217;s why bulls have $1 in sight"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689966935803-673418ce-5e09-410d-884d-6f535f3b4e22-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689966935803-673418ce-5e09-410d-884d-6f535f3b4e22-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689966935803-673418ce-5e09-410d-884d-6f535f3b4e22-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/07\/1689966935803-673418ce-5e09-410d-884d-6f535f3b4e22-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">XRP price has been trading around $0.80 for the past week, having retreated before hitting the $1 level.<\/li>\n<li dir=\"ltr\">Ripple\u2019s win against the SEC remains a huge catalyst and several indicators suggest a new leg is likely.<\/li>\n<li dir=\"ltr\">If price breaks out amid new upside catalysts, it could be a big move for XRP.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/ripple\/\">XRP<\/a>\u2019s explosive gain on the day Ripple scored a big one against the US Securities and Exchange Commission (SEC) did not help bulls cross the psychologically important $1 level. And with ranged trading amid a flip in the Fear &amp; Greed Index this week, the struggle beneath $0.80 has hinted at a slight frustration across the XRP market.<\/p>\n<h2 dir=\"ltr\">What\u2019s the XRP outlook?<\/h2>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/06\/21\/1689966383667-0fc5b34b-f6bc-4b58-b59a-1e3345a993d0.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"320\"\/><span class=\"fr-inner\">A weekly chart showing XRP\/USD price performance. Source: <a href=\"https:\/\/www.tradingview.com\/x\/wCrv9RG2\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">XRP\u2019s pullback below $0.80 (XRP\/USD traded to highs above $0.93 last week) has come even as <a href=\"https:\/\/www.coinglass.com\/BitcoinOpenInterest\" rel=\"noopener noreferrer\" target=\"_blank\">open interest<\/a> in futures contracts continued to hover at its highest level since November 2021. According to OI data from Coinglass, that metric soared to $1.19 billion on Thursday July 20.<\/p>\n<p dir=\"ltr\">Rising open interest is indicative of inflows into the XRP futures contracts and typically confirms the recent trend\u2019s strength.<\/p>\n<p dir=\"ltr\">The XRP market has also been on a tear in terms of the global spot trading volumes. On-chain data showed XRP volumes, buoyed by massive interest in South Korea, topped that of Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This is the largest volume on <a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XRP<\/a> measured in the last 1,5 years.<\/p>\n<p>INSANE! <a href=\"https:\/\/t.co\/paNyPJsCXm\">pic.twitter.com\/paNyPJsCXm<\/a><\/p>\n<p>\u2014 Crypto Rover (@rovercrc) <a href=\"https:\/\/twitter.com\/rovercrc\/status\/1679517125264785409?ref_src=twsrc%5Etfw\">July 13, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Positive sentiment has also been infused into the XRP market by recent developments around adoption of Ripple technology. After the partial win against the SEC, reports emerged that the US-based blockchain company was looking to recapture the interest of major financial players in its cross-border payments and remittances technology.<\/p>\n<p dir=\"ltr\">Ripple also made a major splash this week, committing to a <a href=\"https:\/\/coinjournal.net\/news\/ripple-invests-in-54m-round-for-ai-metaverse-firm-futureverse\/\">$54 million investment<\/a> in Futureverse, an artificial intelligence and metaverse-focused project. With more upside catalysts across the crypto market, it is possible XRP price could cap a great month with a burst above the key resistance level.<\/p>\n<p dir=\"ltr\">However, while a move higher is a more likely scenario given the highlighted factors, a negative flip in sentiment with prices still near current levels could risk a bearish retest. The primary support level below $0.70 is around $0.50.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/xrp-price-outlook-a-tinge-of-frustration-but-bulls-have-1-in-sight\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) XRP price has been trading around $0.80 for the past week, having retreated before hitting the $1 level. Ripple\u2019s win against the SEC remains a huge catalyst and several indicators suggest a new leg is likely. If price breaks out amid new upside [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22453"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22453"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22454"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}