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📈 XRP Breaks Down Trend 

Word On The Street: XRP closed the week with an impressive 9.19% gain, surpassing the previous resistance at $0.60.

The details:

• Currently, it’s up by 14.69% for the month, setting the stage for its strongest quarterly performance since Q1 of 2023.

• Since the July 13, 2023 ruling that XRP is "not a security," the token surged to $0.95 before settling at a monthly close of $0.69.

• After consolidating for over a year, XRP's recent monthly returns have breached a significant downtrend that has been in place for over 3.5 years.

Why it matters: For XRP to continue its upward trend, it must flip $0.66 into support, which would then set the stage to challenge the next resistance at $0.75.

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Traders Corner (Premium)

Welcome, Traders!

Traders Corner is the premium section of The Blockstreet Journal. We provide one free report out of appreciation ❤️ 

Reports from our analysts today:

• BONK Technical Analysis (Free)

• BEAM Technical Analysis (Paid)

• Dogecoin Technical Analysis (Paid)

TRADERS CORNER
🫠 BONK Technical Analysis

Bonk (BONK) is trading around $0.00002413, which is close to the middle VWAP band at $0.00002465. This indicates a neutral to slightly bearish momentum, as the price is trading below the middle VWAP band, suggesting a mild selling pressure in the short term.

Trend Analysis:

The chart displays a mixed trend with periods of upward rallies and subsequent pullbacks. Recently, the price surged above the upper VWAP band but faced strong resistance, leading to a decline towards the middle VWAP band. The price is currently trading just below this band, which hints at the possibility of a shift towards a bearish momentum if the support levels do not hold.

The VWAP bands show moderate widening, indicating a rise in volatility. The market may be gearing up for a more pronounced movement in the coming sessions, depending on how the price interacts with the VWAP levels.

Support and Resistance:

- Resistance: The immediate resistance is at the middle VWAP band around $0.00002465. If the price manages to break above this level, the next resistance to watch would be near the upper VWAP band at $0.00002532.

- Support: The first key support lies at $0.00002399, which is slightly below the current trading level. A break below this could see the price targeting the lower VWAP band around $0.00002266.

Potential Scenarios:

Bullish: If BONK finds buying support at the current levels and manages to break above the middle VWAP band at $0.00002465, it could signal a bullish reversal. The next target would be the upper VWAP band at $0.00002532, where the price may face resistance.

Bearish: If BONK continues to face selling pressure and breaks below the support at $0.00002399, it could decline further towards the lower VWAP band at $0.00002266. A break below this support could indicate a continuation of the bearish trend.

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