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Ripple (XRP) shows itself as a crypto force; Will the price reach $1?

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  • The market price of XRP shows how to play the show as the price remains bullish with good volume and strength.
  • XRP is trading above the support level as the price aims to continue the trend movement as the price maintains its stability above the 8 and 20 day moving average.
  • XRP price is looking to rise to $1 as the main resistance turned into support with more buying orders.

Ripple (XRP) price continues to show strength with price trends with a major breakout from the downtrend range against the Tether (USDT). With the cryptocurrency market cap rebounding from weekly lows as the market continues to look promising, Ripple (XRP) is not ruled out as the price breaks out of its long range with the price heading higher with eyes set on a potential target of $1. (Data from Binance)

Ripple (XRP) price analysis on the weekly chart

The cryptocurrency market has taken a rest, as most altcoins have come to expect. However, despite the recent surge in the price of most crypto assets, some altcoins have remained range-bound.

One of the projects that has been keeping its price steady over the past few days is XRP. After announcing the court ruling in favor of Ripple (XRP), XRP received the case very well, and the price trend is week and week as the price looks towards $1.

XRP Price Seen Its Price Rejected To Weekly Low Of $0.3 With Timely Court Order; The price rose from this bottom to a high of $0.53, creating a more bullish scenario. If XRP maintains its ascending structure with strong volume, we may see a rally in the price to $1.

XRP price weekly resistance – $0.6 – $0.8.

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XRP price weekly support – $0.3.

XRP Price Analysis on the Daily (1D) Chart

XRP daily price chart | Source: XRPUSDT On Tradingview.com

On the daily time frame, XRP price continues to show strength as it pulls back some gains even though the market appears to have stalled in the price action; After hitting a daily low of $0.44, the price of XRP rose to $0.5 before being rejected at ascending triangle It struggled to break out as price broke out and looked to the upside.

The XRP price break indicates further bullishness towards the high of $0.6 and a possible rise to $1. XRP price bearing the 8 and 20 day exponential moving average (EMA) is a good sign of price growth.

Prices at $0.50 and $0.4 correspond to the values ​​of 8 and 20 days.

The Relative Strength Index (RSI) for XRP is showing increasing buy orders as the value is above the 50 mark area per day.

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XRP price daily resistance – $0.6 – $0.8.

XRP price daily support – $0.45.

Featured Image From Finbold, Charts From Tradingview

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Cryptocurrency

Understanding Bitcoin Hash Rate Increase – Bitcoin Magazine

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This is an op-ed by Alex, a bitcoin miner with KapoMax.

It is important for individuals looking into bitcoin mining for the first time to understand the importance of adjusting the bitcoin difficulty as well as the impact this has on mining profitability. Many newcomers to bitcoin mining will consult an ASIC profitability on a mining calculator, and expect this profitability to remain relatively the same in the future. This is a misunderstanding as the profitability of any given machine tends to be downward over time. Difficulty increases must be understood before purchasing an ASIC.


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Bitcoin price targets extend to $19k as BTC jumps 4% from daily lows

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bitcoin (BTC) remained higher after buying $17,000 in liquidity on December 9 as traders targeted more upside.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bitcoin is trying to make a new monthly high

information from Cointelegraph Markets Pro And the TradingView BTC/USD shows cooling volatility once again after it reached $17,300 on Bitstamp.

husband was He started taking cash On Dec. 8, Wall Street opened this uptrend to see it challenge the one-month highs of Dec. 5.

For those who are already betting on continuing to go higher, the move came as no surprise, as the coast is still clear to add more gains.

Popular trader Credible Crypto summed it up: “The move to $18-19K BTC continues.”

Previous tweet from Dec 7 explained The rationale, with invalidation set at the $16,000 support.

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Part of the accompanying comments read:

“Maybe another push to 16.4-16.5k, then expect a back-up reversal and continuation of the 18-19k targets.”
Annotated BTC/USD chart. Source: Credible Crypto / Twitter

Meanwhile, fellow merchant Shades, eye Potential volatility continues, with BTC/USD marking the upper Bollinger band on the 4-hour timeframe.

At the time of writing, the four hour candles remain near the upper band, with both candles continuing to stretch in a classic lead to increase volatility.

BTC/USD 4-hour candlestick chart (Bitstamp) with Bollinger Bands. Source: TradingView

“Expect bitcoin to continue as long as we stay above $17,000,” Michael Van de Poppe, founder and CEO of trading firm Eight, said. addedlikening the nocturnal movement to the breakout from the end of November.

Liquidations are fueling Bitcoin’s price hike

Further analysis of BTC’s price movements overnight highlighted increased liquidation of short positions.

Related: Bitcoin 2022 Bears ‘Habitual’ Despite Missing Major Trend Line – Analyst

In a sign of how far market participants assumed further declines would enter, shorts on BTC totaled $7 million in one hour on Dec. 8, according to data from Coinglass. Altcoin short liquidations added another $11 million to the tally.

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“Liquidations have been relatively small since the crash in early November, but short liquidations have helped support that latest move,” Analytics Source On-Chain College has been confirmed.

BTC liquidation scheme. Source: Coinglass

The views, ideas and opinions expressed herein are those of the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.