Crypto Analyst Says XRP Price Has Entered Markup Phase, Why This Is Important

Name	Symbol	Market	Market Cap ($)	Algorithm
Internet Computer	ICPUSD	Crypto	3,716,238,501	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Internet Computer

ICPUSD

Crypto

3,716,238,501

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.010	0.13%	7.83	7.84	7.84

Price Change

Price Change %

Current Price

Bid Price

Offer

0.010

0.13%

7.83

7.84

High Price	Low Price	Open Price	Prev. Close	52 Week Range
7.96	7.78	7.83	7.82	2.81 - 20.96

High Price

Low Price

Open Price

Prev. Close

52 Week Range

7.96

7.78

7.83

7.82

2.81 - 20.96

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	09:13:14	1.30	7.83	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

09:13:14

1.30

7.83

USD

Price x Volume	Volume	Base Symbol	Related Pairs
568,298.72	72,077.68	ICP	ICPEUR	ICPGBP	ICPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

568,298.72

72,077.68

Crypto Analyst Says XRP Price Has Entered Markup Phase, Why This Is Important

07/11/2023 11:00pm

NEWSBTC

The XRP price is still in an incredibly bullish position despite the recent pullback and the general sentiment in the community matches this bullishness. One crypto analyst explains the current trend as the altcoin having entered what is referred to as a “markup phase.” XRP Price Leaves Accumulation To Markup Phase Crypto analyst and trade The Signalyst took to TradingView to share an interesting phase that the XRP price had entered. Using a chart, the crypto analyst outlined where the altcoin’s price had been in the past, where it is now, and where it is headed using distinct terms. Related Reading: Top 3 Altcoins For November 2023 That Could 100x Your Crypto Portfolio The first phase outlined in the chart is the markdown phase which took place after the price surge following Ripple’s first victory over the United States Securities and Exchange Commission (SEC) in July. This markdown phase saw the price go from as high as $0.9 to as low as $0.45 when all was said and done. What came after the markdown phase was complete was the accumulation phase. Here, the XRP price traded in a pretty tight range, offering an opportunity for investors to buy as many coins as possible. During this phase, the price never crossed above $0.55. Source: TradingView.com Next came the markup phase which is where the XRP price is currently residing. This markup phase is when the price starts to recover. “After breaking above the 0.55 level mentioned in my previous idea, XRP exited the accumulation phase and entered the markup phase,” the analyst said. This markup phase is important in the fact that it possesses the strength for the XRP price to continue to grow. However, like with any rally, it faces a good measure of resistance from bears who continue to try to pull the price down. Related Reading: ETH Sent To Exchanges Climbs Above 500,000, Is Ethereum At $2,000 Still Possible? XRP recovers above $0.68 | Source: XRPUSD on Tradingview.com The most important level for bulls to break in this markup phase, according to the analyst, is $0.7345, from which the price has already been rejected once on Monday. The Signalyst believes that if this level is broken, then bulls can maintain control of the price. The chart suggests a rise as high as $0.8 following a break of this resistance; an event that would cement XRP’s bull rally. “Meanwhile, XRP could still face rejection at the resistance, which can be confirmed on lower timeframes,” the analyst warned. “In this scenario, a correction towards the 0.55 support level would be anticipated.” Despite the drawdown, the XRP price is still showing bullishness and a high level of interest from investors. Its daily trading volume is up 32% in the last day, breaking above $3.3 billion. Its price is currently sitting at $0.69, up 1.63% and 21% on the daily and weekly charts, respectively. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from CoinMarketCap, chart from TradingView.com

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ICPUSD Internet Computer