XRP Rockets 70%! Can Bulls Take it to $1?

• XRP saw a 70% rally following a legal victory for Ripple Labs against the US SEC.
• The $1 value is the next target for bulls to aim at, with key support at $0.694.
• Open Interest and CVD rates increased during the pump, indicating more buying pressure.

Ripple (XRP) Sees 70% Gains: Can the Rally Continue?

Ripple Labs was ecstatic following a landmark ruling reiterating that they didn’t violate federal securities laws, causing XRP to rally over 70% at press time.

Analysis of XRP’s Pumps

$0.45 has been a critical support level in late June and July, with Fibonacci retracement levels placed between the most recent high on 13 July ($0.9380) and this support level of $0.451. Bulls could cool off from the rally before attempting to clear the $0.9380 high to cross $1.

The improved sentiment also saw Bitcoin [BTC] reach a new high of $31.8k.

Open Interest Rates

The massive pump on 13 July doubled the Open Interest (OI) rate from >$400 million to >$800 million as the CVD (Cumulative Volume Delta) also edged higher, showing more players were out to cover long positions during the rally – a bullish cue.

Will XRP Cross The $1 Value?

At the time of writing, crossing $1 value seemed unlikely but not impossible if bulls manage to cross critical resistance levels first such as 50% retracement level of $0.694 or even break through current resistance at around 0 .9380c which can take it up towards 1 .05 and beyond..


XRP’s massive pump on 13 July didn’t cross $1 but if bulls manage to stay above crucial supports such as 0 .694 then there is potential for further gains in price in order for it to hit its psychological value at 1 USD.