In a detailed XRP price analysis on the TradingView platform, crypto analyst AlanSantana has identified a price target of around $4.68, even as XRP has extended its decline towards the $2 mark. This interesting prediction is based on resistance and support levels in the XRP price chart, which are more reliable for technical analysis. According […]
Crypto analyst Dark Defender has revealed a pattern in which the XRP price has formed on the daily chart. In his analysis, he highlighted the $1.95 price level as being crucial as it could determine XRP’s next move. XRP Price Forms Descending Triangle On The Daily Chart In an X post, Dark Defender mentioned that the XRP price has formed a descending triangle on the daily time frame. He added that a breakout is imminent in this pattern as long as $1.95 is protected. The analyst highlighted $2.22, $2.72, $2.90, and $5.85 as the initial targets XRP could reach if the price breakout occurs. Related Reading: Ethereum Price Guns For A Mid-High Timeframe Reversal Against Bitcoin In Bullish Q1 2025 Meanwhile, the crucial support levels for the XRP price are $1.95, $1.88, and $1.63. Based on an earlier analysis by Dark Defender, XRP could still rally to double digits in the long term. The analyst highlighted a bull flag that had formed on the daily chart, noting that it was similar to the one that had earlier formed on the 4-hour timeframe. Dark Defender stated that the bull flag that formed on the daily chart targets the Fibonacci Level of $5.85 and penetrates toward $10.1979. The crypto analyst remarked that this is a historical pattern approach and the Fibonacci Wave. He added that the last Fibonacci targets stand at $18.22 and $36, with no significant targets in between. The analyst’s accompanying chart showed that the XRP price could reach these targets in the first half of 2025. While analyzing XRP’s yearly chart, Dark Defender stated that a God Candle awaits next year. This came as he noted that XRP had enjoyed a breakout year in 2024, having consolidated for around six years. XRP boasts a year-to-date (YTD) gain of over 228%. From An RSI Perspective Crypto analyst Egrag Crypto provided insights into the XRP price action from a Relative Strength Index (RSI) perspective. The analyst stated that 74, 70, and 65 are the three key RSI levels to watch out for. In the most bullish scenario, he remarked that XRP needs to ideally reach 88 or even 96.5 and higher for the RSI curvature to continue trending upward. Related Reading: Legendary Analyst Peter Brandt Says Bitcoin Price Could Crash To $78,000, Here’s Why Egrag Crypto said it would be “incredibly” bullish if the XRP price bounces from the 74 range. Meanwhile, a dip to 70 could indicate bearish momentum. However, he added that a bounce from this RSI level is essential for continuing the bull run. Likewise, a dip to 65 is also bearish for XRP, but as long as the crypto doesn’t drop below this level, then a bounce would indicate a significant move ahead. The crypto analyst warned that closing below the 65 RSI level could signal the end of the bull run. At the time of writing, the XRP price is trading at around $2, down over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Whale distribution and a convincing bearish reversal indicator set up XRP for further price declines in early 2025.
Futures open interest on XRP dropped by 54% in three weeks. Is XRP gearing up for another rally?
On-chain data shows an XRP whale has moved a large amount of the asset to Coinbase following a 4% Christmas rally in its price. XRP Is Up More Than 4% On Christmas Day After a period of struggle in cryptocurrencies across the board, Christmas has brought back some bullish winds as Bitcoin and company have made some recovery. XRP has been no exception, with its price going up over 4% in the last 24 hours to reclaim $2.31. Related Reading: Bitcoin Sentiment Still Close To Extreme Greed: More Cooldown Needed For Bottom? Below is a chart that shows how the digital asset has performed during the last few days. As with any surge in the coin’s value, profit-taking can become a threat as investor gains balloon up. It appears one whale may have fallen prey to such a temptation. A Large Transfer Has Just Been Spotted On The Network According to data from the cryptocurrency transaction tracker service Whale Alert, a massive transaction has occurred on the XRP blockchain during the past day. The transfer in question involved the movement of 30,171,667 tokens worth more than $69.2 million at the time the sender executed the move. This is quite a large transaction, so it’s likely that a whale entity was responsible for it. Whales are investors who carry massive holdings in their wallets. As the influence of any entity on the market goes up, the more coins that they own, whales are considered a key part of the ecosystem. Because of this reason, their moves can be worth keeping an eye on. They may not always directly influence the price, but they can still inform us about the sentiment among these giants. Problem is, the anonymous nature of the blockchain means that a lot of the time, it’s not possible to discern what an investor’s intent was behind a move. Luckily, in the case of this XRP whale transaction, one end of the move contains a wallet that can be identified as being tied to a centralized platform. Here are the address details related to the transfer: As is visible above, the receiving address for this transaction was a wallet attached to the cryptocurrency exchange Coinbase. The sending address was an unknown wallet, meaning that it was likely the whale’s personal, self-custodial wallet. Transactions of this kind, where coins flow from self-custody to a centralized exchange, are known as exchange inflows. Generally, one of the main reasons why investors deposit to these platforms is for selling-related purposes, so exchange inflows can have bearish implications for the asset’s price. Related Reading: Bitcoin Coinbase Premium Giving Potential Buy Signal, Quant Says it’s uncertain, though, whether taking profits from the latest surge was indeed the goal in mind when the whale made the transaction. It may very well be the case of the investor looking to take advantage of one of the other services that Coinbase provides. Featured image from Dall-E, whale-alert.io, chart from TradingView.com
XRP has been range-bound in recent days, consolidating after successfully holding strong above the critical $2.10 support level. As one of the standout performers this cycle, XRP experienced a massive surge following the US election, capturing investor attention. However, recent price action has introduced uncertainty, leaving some investors concerned about the possibility of further downside. Related Reading: Solana Holds Weekly Support At $180 – Analyst Expects $330 Mid-Term Despite these fears, on-chain data suggests a different narrative. Insights from Santiment reveal that whales have accumulated another 40 million XRP in the past 24 hours. This significant accumulation indicates that Smart Money may be positioning itself for an upcoming rally. Historically, such whale activity has preceded major price movements, providing a bullish signal for long-term holders. XRP’s ability to maintain the $2.10 support level amid market fluctuations demonstrates resilience, but the next decisive move will depend on whether bulls can capitalize on this accumulation phase. If buying momentum continues and XRP breaks out of its current range, a push toward new highs could follow. XRP Continues To Signal Strength XRP continues to display resilience, trading above key support levels and attracting investors who recognize its long-term potential. Despite a significant 30% retrace from recent highs, XRP has held its ground, maintaining critical support zones that bolster a bullish outlook. This stability is driving confidence among market participants, with many seeing the altcoin as a top contender for future growth. Top analyst Ali Martinez recently highlighted compelling data from Santiment, showing that whales added another 40 million XRP to their holdings in the last 24 hours. This follows a broader trend of consistent whale accumulation, a phenomenon often regarded as an indicator of smart money positioning for a significant market move. Such activity suggests that institutional and high-net-worth investors expect XRP to outperform in the coming months. The sustained interest in XRP stems from its ability to remain strong despite recent corrections and broader market uncertainty. Holding above key support levels not only reflects technical strength but also underscores investor confidence in its potential for a significant rally. Related Reading: If History Repeats Dogecoin Has Potential For A Parabolic Rally – Details As whale accumulation continues and sentiment shifts, XRP is well-positioned to capitalize on positive momentum. A breakout above resistance levels could mark the beginning of a powerful rally, reinforcing its leadership among altcoins in the current cycle. Technical Analysis: Key Levels To Watch XRP is currently trading at $2.22 after successfully testing the 4-hour moving average (MA) and exponential moving average (EMA) around $1.96 a few days ago. This bounce off critical support levels highlights XRP’s short-term strength, reinforcing its bullish momentum. The MA and EMA are widely regarded as key indicators for assessing the health of an asset, and XRP’s ability to hold above them signals strong demand at lower levels. Maintaining support above $2.13 in the coming days is essential to sustain this momentum. If XRP continues to trade above this level, it would solidify investor confidence and pave the way for a potential test of the $2.40 resistance mark. Breaking above $2.40 would likely trigger additional buying interest, potentially driving XRP toward new highs as the broader market sentiment improves. Related Reading: Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours – Details On the flip side, losing the $2.13 support could introduce some short-term weakness, leading to a retest of lower levels near the MA and EMA. However, as long as XRP maintains its overall structure above these moving averages, the bullish narrative remains intact, and the altcoin could continue to attract smart money positioning for the next rally. Featured image from Dall-E, chart from TradingView
A crypto analyst has set an ambitious target between $7 and $13 for the XRP price, basing his predictions on the Elliott Wave theory and Fibonacci levels. According to the analyst’s price chart, Wave 2 and 5 could push XRP to these key targets, marking new all-time highs for the cryptocurrency. XRP Price Roadmap To New ATHs The XRP price has been on a rather lengthy consolidation trend, halting its previous price momentum after hitting the $2.5 mark. Despite facing bearish trends and a drop to $2.2, a crypto analyst on TradingView, ‘Zerpcrypto,’ has shared a bullish forecast for the popular altcoin. Related Reading: Bitcoin Price Flashes Major Buy Signal On The 4-Hour TD Sequential Chart, Where To Enter? According to the analyst, XRP could experience a significant price increase between $7.4 to $13.5. The analyst based his bullish projections on XRP’s recent price action and the Elliott Wave theory, a technical analysis tool that identifies predictable patterns in crypto prices and helps forecast market trends. Zerpcrypto shared a 2-year XRP price chart from 2014 to the present; labeling wave counts from one to five for the larger cycles and sub-waves within these cycles. The analyst’s chart indicates that XRP is currently in the middle of Wave 3, signaling a potential upward move. With Wave 2 already complete, Zerpcrypto anticipates that Wave 3 could trigger a strong price rally, potentially propelling XRP to $7.4. After reaching the Wave 3 target, a minor pullback is expected in Wave 4, allowing the market to consolidate before XRP’s final big push upward into Wave 5. In this last wave, XRP could rise to $13.5 and potentially even surge as high as $27.4. In addition to the Elliott Wave theory, Zerpcrypto‘s predictions are grounded in Fibonacci levels. The projected $7.4 and $13.5 XRP price targets align with the 4.236 and 8.618 Fibonacci extension levels respectively, reinforcing the analyst’s bullish outlook. Zerpcrypto has also spotlighted a positive Moving Average Convergence Divergence (MACD) for XRP, further strengthening his confidence in the cryptocurrency’s projected $7.4 to $13.5 price target. Crypto Whales Buy 40 Million XRP Despite XRP’s price drop to $2.25, a 13% decline over the past week, whales continue accumulating large amounts of tokens, viewing the price dips as a potential buying opportunity. Crypto analyst Ali Martinez revealed in a recent X (former Twitter) post that whales have bought another 40 million XRP in the last 24 hours. Related Reading: XRP Price On Its Way To $10 In Only 3 Months If It Follows This Pattern A crypto community member has speculated that this large-scale purchase could signal that whales may be positioning themselves for significant change in XRP. Typically, a surge in whale buying activity often suggests increased confidence in the bullish outlook of a cryptocurrency. With XRP’s price surging over 4X from its previous low of $0.5 to surpass $2.2 in just two months, analysts are forecasting continued gains as the bull market gains momentum. Featured image created with Dall.E, chart from Tradingview.com
The XRP price has continued its steep correction into the past 24 hours, with it currently hovering around the $2.2 price level. Nonetheless, analysts are still concerned about the possibility of the XRP price reaching new highs sooner than later, with some giving projections into the two-digit threshold at $10 and beyond. Interestingly, crypto analyst Cryptoinsightuk recently shared his thoughts on social media platform X, drawing attention to a potential roadmap for XRP to achieve this ambitious target. Mirroring The 2017 XRP Price Pattern Cryptoinsightuk has brought a compelling perspective to the ongoing XRP price correction and its previous rally, highlighting how its current trajectory resembles the movement it experienced in 2017. Back then, XRP consolidated a little bit in early 2017 before undergoing a powerful rally that extended into 2018. Related Reading: XRP Battles Critical $2.20 Support Level — Will It Target $2.70 Or Slip To $1.96? With this in mind, technical analysis from Cryptoinsightuk adjusted the price action at that time to size in relation to XRP’s previous breakout in early October. According to this, if XRP continues to follow the 2017 pattern, the cryptocurrency could replicate this crazy move throughout 2025. Interestingly, the analyst’s overlay of the 2017 price action suggested that the XRP’s 460% price breakout from its early October range of $0.5 is already halfway into replicating this movement. If this were to continue playing out this way, the analyst expects XRP to break above $10 in the first quarter of 2025. However, Cryptoinsightuk’s projections extend beyond this initial $10 target in Q1 2025. If XRP’s price continues to mimic the historic movement beyond the first quarter, the analyst envisions what he describes as a “moon boy blow-off top.” This phase, which is characterized by a larger parabolic surge in price, could push XRP as high as $35 by the third or fourth quarter of 2025. Factors To Push XRP’s Bullish Trajectory CryptoinsightUK’s bullish outlook on XRP hinges on the cryptocurrency’s ability to replicate its 2017 movement. Back then, the parabolic surge saw XRP go from below $0.0060 until it reached its current all-time high of $3.40. Punching in the numbers, this comes up to around 56,000% gain over 12 months or so. Related Reading: Bitcoin $178K Target In Sight? Analyst Highlights Bollinger Band Retest Mirroring Jan. 2024 Rally While XRP is currently in a positive market sentiment to continue a strong bullish move, market conditions in 2024 are different from those in 2017. Furthermore, the amount of inflow capital needed to reach $10 or $35 at this point would be far greater than what it took to reach $3.4 in 2018. However, increased institutional involvement and factors like political and expected regulatory positivity in 2025 suggest that the XRP price could nonetheless go on a comparable surge. Additionally, broader crypto market trends, such as Bitcoin’s performance, could contribute to the predicted XRP price surge. At the time of writing, XRP is trading at $2.18. Reaching the $10 and $35 price targets would translate to a 358% and 1,505% move, respectively. Featured image created with Dall.E, chart from Tradingview.com
XRP has faced a steep correction over the past few days, plunging more than 23% since Tuesday amid heightened market volatility. Despite this sharp downturn, XRP has shown resilience, bouncing back with a notable 20% recovery since yesterday. This quick rebound has reignited discussions about XRP’s long-term prospects, even as short-term sentiment remains shaky. Related Reading: Bitcoin Realized Losses Spike 3 Times The Weekly Average – Healthy Correction Or Downturn? According to data shared by prominent crypto analyst Ali Martinez, whales have accumulated 80 million XRP since the correction began on December 17. This surge in whale activity suggests a growing confidence among large investors, who appear to be seizing the opportunity to buy XRP at lower prices. Such accumulation often signals a long-term bullish outlook, even as the broader market navigates periods of uncertainty. While XRP’s recovery is encouraging, it comes amid a backdrop of negative sentiment and price instability. The coming days will likely prove crucial in determining whether XRP can maintain its upward momentum or if further consolidation is on the horizon. For now, whale activity offers a glimmer of optimism, hinting at sustained interest in the asset despite recent setbacks. XRP Whales Loading Up XRP is currently trading 22% below its multi-year high of $2.90, following a period of heightened market volatility. Despite the recent turbulence, XRP has maintained its footing above the $1.90 low—a critical support level that serves as the bulls’ last line of defense. Holding this level is essential for preserving the broader bullish structure and preventing a deeper correction. Recent data from Santiment, shared by crypto analyst Ali Martinez, highlights a significant development: whales have purchased 80 million XRP since the correction began on December 17. This accumulation by large investors suggests growing confidence in XRP’s long-term potential despite the short-term price decline. Historically, whale activity has often preceded significant price movements, as these investors typically have access to better market insights. If XRP can sustain its position above $2 and begin to push through crucial supply zones, a rapid recovery could follow. Overcoming these resistance levels would likely pave the way for renewed bullish momentum, with the potential to retest multi-year highs. Related Reading: Solana Holds Monthly Support As Network Activity Grows – Time For A Breakout? While challenges remain, such as prevailing market uncertainty and cautious sentiment, the combination of strong support and significant whale accumulation offers an optimistic outlook for XRP in the weeks ahead. Holding current levels could signal the start of a new upward trajectory. Testing Liquidity Above $2 XRP is trading at $2.35, marking a strong recovery from its recent dip to $1.95. This rebound underscores the resilience of XRP’s price action, as it continues to hold above key support levels. The $1.95 low has proven to be a pivotal point for bulls, and maintaining this momentum could signal further gains in the coming days. However, for the rally to gain credibility, XRP must reclaim the $2.60 mark. This level serves as a critical resistance point and a confirmation zone for bullish sentiment. Breaking above $2.60 would likely attract more buying interest, propelling XRP toward retesting multi-year highs. On the flip side, a loss of the $2 support level would shift the narrative. Such a move would expose XRP to further downside risks, potentially leading to a deeper correction. Market sentiment remains cautious, and a break below $2 could result in accelerated selling pressure. Related Reading: Bitcoin Data Reveals No Significant Panic Selling In The Market – Shakeout Or Trend Shift? For now, XRP’s outlook hinges on its ability to navigate between these crucial levels. Bulls will need to push the price above $2.60 to validate the rally, while bears will aim to drag it below $2 to seize control. The next few sessions will be critical in defining XRP’s short-term trend. Featured image from Dall-E, chart from TradingView
XRP has faced a sharp downturn over the past few days, shedding over 23% of its value since Tuesday. This steep correction has mirrored the broader market’s turbulence, intensifying negative sentiment around XRP. However, notable developments are emerging beneath the surface of this bearish price action. Related Reading: Bitcoin Data Reveals No Significant Panic Selling In The Market – Shakeout Or Trend Shift? Key on-chain data from Santiment reveals that whales are taking advantage of the dip. In the last 24 hours alone, these large holders have accumulated an additional 110 million XRP, demonstrating significant confidence in the asset’s long-term prospects. Historically, whale activity during negative sentiment often signals strategic positioning for future gains. This accumulation trend suggests that whales are undeterred by short-term price fluctuations, focusing instead on XRP’s potential in the coming months. As retail traders grow increasingly cautious amidst the recent drop, the actions of these large holders highlight a different perspective. While the immediate outlook for XRP remains uncertain, the notable whale activity is a bullish indicator for the long run. Whether this signals a bottom or simply positions XRP for a broader recovery remains to be seen, but it is clear that big players are looking beyond the current market turbulence. XRP Holding Key Levels XRP is currently trading 28% below its multi-year high of $2.90, but it has managed to stay above a critical support level at $1.90. This zone, regarded as the bulls’ last line of defense, has proven resilient amid recent market volatility. Holding above this level is essential to maintaining the bullish structure that has characterized XRP’s recent price action. Adding to the optimism, key metrics from Santiment, shared by crypto analyst Ali Martinez, reveal that XRP whales have accumulated actively during the pullback. Over the last 24 hours, these large holders have purchased an additional 110 million XRP, underscoring their confidence in the asset’s long-term potential. Historically, whale activity during price dips often signals preparation for a recovery. The next step for XRP to regain momentum is to push above critical supply levels that have previously stalled upward moves. A breakout above these zones could trigger a swift rally, bringing XRP closer to its multi-year high. Related Reading: On-Chain Metrics Reveal Cardano Whales Are ‘Buying The Dip’ – Details The strong support at $1.90 and continued whale accumulation suggest a positive outlook for the weeks ahead. However, maintaining current levels and overcoming resistance will be crucial for XRP to capitalize on this potential and reignite its bullish trajectory. Technical Levels To Watch XRP is trading at $2.06, reflecting a loss of momentum after failing to reclaim the crucial $2.60 level. This inability to push higher has left the market uncertain, with XRP holding above the critical $1.90 low. For now, these levels suggest the asset could enter a prolonged period of range-bound trading, oscillating between $1.90 and $2.60 in the coming days. However, market sentiment remains fragile, and this indecision could tilt toward the bearish side if the overall mood doesn’t improve. With XRP trading just above the psychologically significant $2 mark, a continued lack of bullish momentum might lead to a significant selloff. If bears take control, the lack of strong support below $2 could pave the way for a deeper correction, eroding recent gains. Related Reading: Bitcoin Stuck Between $99K And $102K – Analyst Explains Macro Situation For XRP to break free from this indecisive phase, a clear reclaim of the $2.60 level is necessary to restore confidence among bulls. Until then, traders and investors are likely to exercise caution, closely monitoring price movements and sentiment shifts to gauge the next directional move. Without a decisive breakout, the price may face mounting pressure, risking a more pronounced downturn if support at $1.90 fails. Featured image from Dall-E, chart from TradingView
Recent technical analysis has revealed that the XRP price is consolidating after breaking key resistance levels to new highs. A crypto analyst has warned of an impending XRP price crash, urging investors not to get distracted as the RSI is still significantly above 50%. Discussing his predictions through short and long-term XRP price charts, the analyst shows that the cryptocurrency is firmly positioned in a bullish trend despite impending corrections. XRP Price RSI Hints At Potential Crash On the 4-hour XRP chart, a double tap structure is highlighted in the Relative Strength Index (RSI), a technical indicator used to measure the momentum of a cryptocurrency. This double tap pattern typically signals further downward movement before a price stabilization. Related Reading: This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline According to Dark Defender, a crypto analyst on X (formerly Twitter), the RSI’s recurrent dips into oversold territory indicate that XRP could experience a price crash to new lows. The analyst disclosed that the XRP price had previously found strong support at $2.17; however, the cryptocurrency experienced a bounce to the upside. After hitting this support level, the XRP price is now consolidating, a pattern often associated with a potential uptrend after a correction. Despite the slight market recovery, the analyst has warned of another impending price crash in this same support zone as the RSI approaches oversold levels once more. Earlier in December, the RSI had hit oversold territories after dipping below 30%. Now XRP’s RSI is above 50% and signaling a potential to experience a price correction between the support levels at $2.17 and $2.18. Dark Defender has revealed that this price crash could occur soon as XRP is expected to enter oversold territory within a day. Despite this potential price correction, the analyst has acknowledged that the XRP’s broader outlook still looks bullish, with an uptrend continuation expected once the market consolidates following its projected price dip to new lows. Dark Defender has also predicted that XRP’s next price target after this projected correction is likely above $3, marking an almost 40% increase from the $2.17 support area. XRP 3-Month Chart Signals Strong Bullish Set Up Following his predictions that the XRP price could crash as it enters oversold conditions, Dark Defender also shared a 3-month chart analysis, painting a brighter outlook for the cryptocurrency. The chart shows that XRP has recently broken through a multi-year resistance level for the first time in over five years, signaling a strong bullish shift. Related Reading: Bitcoin Price Crash Below $100,000 Not The End As Analyst Predicts Another 52% Jump The three-month green candle structure between October and December confirms strong buying pressure, setting the stage for a potentially bullish Q1 2025 from January to March. A rounded bottom pattern can also be seen on the XRP 3-month chart. This pattern is a classic bullish reversal structure that indicates a gradual move from a downtrend to an uptrend. Dark Defender has marked several Fibonacci levels as potential price targets for XRP. According to the analyst, XRP could see a 261.80% rise to the 5.8563 Fibonacci level between $5 to $9. After which, the analyst expects a 361.80% surge to the 18.2275 Fibonacci between $16 to $28. Support levels at the 0.6649 Fibonacci at $0.9 have also been highlighted, acting as a safety net for XRP during price corrections. Featured image created with Dall.E, chart from Tradingview.com
As the cryptocurrency market faces a significant price correction—led by Bitcoin (BTC) and Ethereum (ETH), which have retraced 2.2% and 4.6% respectively—the XRP price shows early signs of a potential explosive surge. Currently trading at $2.21, the XRP price has recorded a nearly 5% gain in the past 24 hours, finding strong support just below its current price. This positions the token favorably for continued upward momentum, particularly since it began an upward trend on November 5, bolstered by President-elect Donald Trump’s re-election. $10.82 Target For The XRP Price Following Historical Patterns Interestingly, analysts are increasingly optimistic about the XRP price, especially considering a key technical indicator: the Bollinger Bands. This volatility indicator, which consists of a moving average and upper and lower bands, is currently tightening on the 12-hour chart. Related Reading: Ethereum To Outpace Solana In 2025, Bitwise CIO Asserts Analyst Steph has noted that the last time the Bollinger Bands exhibited such a pattern, the XRP price experienced a staggering 490% price explosion. If history repeats itself, this could propel XRP to a new all-time high of $10.82, significantly surpassing its previous record of $3.40 set in January 2018, according to the analyst. Adding to the bullish sentiment, another analyst known as Javon on X (formerly Twitter) has pointed out that XRP’s last full bull cycle saw an increase of over 600%. The analyst suggests that if the XRP price performs similarly, it could rise dramatically, potentially exceeding 6,800% to reach approximately $168. This projection hinges on the price moving above the 2.414 Fibonacci Extension level, which was valued at $3,06 during the previous cycle. However, some analysts are adopting a more conservative outlook. Key Levels At $2.42 And $2.92 In Focus DarkDefender has noted a clear break on the daily chart, predicting that the XRP price could retest the $2.42 level before breaking through $2.92. Should it surpass this threshold, targets of $3.43 and $5.85 could be in sight. DarkDefender had recently targeted $2.72, which the XRP price had successfully bounced back from, reaffirming the validity of his analysis. Related Reading: 400 Billion Shiba Inu Moved: Is A SHIB Price Crash Coming? Despite differing views on the potential extent of the surge, consensus among analysts is that the XRP price is likely to reach a new all-time high in the coming months. This optimism is further strengthened by the possibility of regulatory changes under the incoming Trump administration. The President-elect has promised a new regulatory framework for digital assets in the United States, which could pave the way for resolving the prolonged legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) which previously stifled the XRP price, leading to a lengthy period of consolidation. Featured image from DALL-E, chart from TradingView.com
A certified Chartered Market Technician (CMT) analyst recently shared a chart discussing the XRP price potential for a bullish surge. Basing his projections on key technical indicators, the analyst believes that the XRP price rally still has a long way to go before it reaches overbought levels. Technical Indicators Signal XRP Price Bullish Reversal CMT-certified […]
The recent XRP price action has been highlighted by another notable surge that saw it reaching just above $2.7 briefly again after a 9% surge on December 17. Although the XRP price was rejected immediately after reaching this level, it continues to exhibit bullish momentum on the daily timeframe chart. Interestingly, popular crypto analyst and […]
A crypto analyst has shared an XRP price chart, analyzing its action on the 4-hour timeframe while pinpointing key metrics of strength that suggest a possible rally. The analyst has predicted that XRP is preparing for a significant run to $11, marking a new All-Time High (ATH). Key Metrics Suggest XRP Price Set For $11 Surge In an X (formerly Twitter) post on Tuesday, prominent crypto analyst Javon Marks shared key observations of XRP’s price behavior, noting signs of strength through crucial metrics and a potential for a significant price rally to a new ATH at $11. The analyst has suggested that XRP shows clear upward momentum, with a sharp increase visible on the presented price chart. Related Reading: Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance Looking at the chart, XRP has been breaking recent resistance levels and maintaining bullish momentum. XRP’s strongest resistance at $0.5, which lasted for over three years, was broken earlier in November, jumping above $1 following Donald Trump’s victory in the US Presidential elections. Currently, the XRP price is trading above $2.5, underscoring the massive growth surge it has experienced in less than two months. Marks has revealed that he was keeping a close watch on alternative larger-term metrics for the XRP price that signal a potential surge to new ATHs. The volume bars below the price chart indicate steady buying pressure for XRP, with increasing trading volume during upward trends. Recently, the XRP accumulation trend among large holders has increased significantly. Crypto analyst Ali Martinez revealed via a price chart that whales have purchased a staggering 30 million XRP within the last 24 hours. This increased buying activity reflects the growing confidence in XRP, possibly fueled by the market’s bullish sentiment and expectations of a price rally. At the bottom of the XRP chart shared by Marks, the Relative Strength Index (RSI) illustrates a sharp upward curve, signaling the potential for a bull rally. The RSI appears as a fluctuating black line, clearly reflecting rising momentum. If XRP can sustain its current uptrend, it could surpass its current all-time high of $3.84 set during the 2021 bull market, potentially reaching a new high above $11 in this bull cycle. Update On XRP Analysis The XRP price has been persistently attempting to break through the resistance area at $2.5, aiming to reach new highs. Over the past month, XRP has had an impressive performance, recording a whopping 119.5% price increase. Despite being in consolidation, the cryptocurrency continues to exhibit strong growth, with its price climbing nearly 8% in the last seven days as it attempted to break through key resistance levels. Related Reading: Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80% Data from CoinMarketCap has revealed that the XRP price is currently trading at $0.252. The cryptocurrency remains the third largest based on market capitalization after Bitcoin and Ethereum. Additionally, XRP has seen a notable increase in its daily trading volume, surging by 53.72% at the time of writing. Featured image created with Dall.E, chart from Tradingview.com
XRP whales have been on a buying spree as blockchain payments company Ripple officially launched its dollar-backed stablecoin, RLUSD, on several global crypto exchanges this Tuesday. The stablecoin is now available for trading on platforms Bitso, Uphold, CoinMENA, MoonPay, and Archax, with additional listings expected soon. Ripple RLUSD Stablecoin Launches Amid Price Volatility RLUSD is designed to maintain a stable value in line with the US dollar and is compatible with both the Ethereum (ETH) blockchain and the XRP Ledger (XRPL), the latter being developed by Ripple Labs alongside XRP. However, shortly after its launch, RLUSD experienced some volatility, trading at $1.50 on MoonPay early Tuesday—an unexpected premium above its intended value, Fortune Magazine confirmed. Related Reading: Ethereum Reaches $4,100 For The First Time In Over Three Years, Aiming For $5,000 Next David Schwartz, Ripple’s Chief Technology Officer (CTO), had anticipated potential price discrepancies in a prior post on X. He explained that early supply shortages could lead to RLUSD trading at a premium until the market stabilizes. Schwartz reassured investors, stating, “But rest assured, the price will come back to very close to $1 as soon as supply stabilizes. If it doesn’t, something is very seriously wrong.” Interestingly, RLUSD’s inflated price of $1.50 is a fraction of what it was previously listed at on Xaman, a crypto wallet for the XRP ledger. In the lead-up to the launch, Ripple supporters made bids for the initial RLUSD tokens, with some investors willing to pay as much as 511 XRP—approximately $1,300 per token. XRP Retraces To $2.52 After Initial Spike As the launch of RLUSD drives increased activity on the XRP Ledger, interest in XRP itself has surged. The token, used to settle transaction fees on the blockchain, saw a 6% rise in value on Monday, peaking at $2.71. However, it has since retraced to the $2.52 mark. Crypto analyst Ali Martinez reported that large investors, or “whales,” bought an additional 30 million XRP prior to the launch, further bolstering its price. In contrast, Bitcoin (BTC) and Ethereum experienced declines of 2.6% and 4.6%, respectively, in the same timeframe. Related Reading: Bitcoin To Hit $180,000 If These Cycle Top Indicators Are Absent, Says VanEck’s Sigel The launch of RLUSD follows recent regulatory approval from the New York Department of Financial Services, positioning Ripple to enhance its presence in the payment network sector for cross-border transactions. Jack McDonald, Senior Vice President of Stablecoins at Ripple, emphasized the potential for institutional adoption, stating, “The stablecoin market is going through this next growth spurt where there’s going to be more institutional adoption that is premised upon institutional use cases.” He highlighted stablecoins as a “killer app” for global payments. While initial interest in RLUSD is largely driven by retail investors, Ripple aims to integrate the stablecoin into its payments business to facilitate international transactions for global banks and institutional partners starting next year. Featured image from DALL-E, chart from TradingView.com
Bloomberg ETF analysts Eric Balchunas and James Seyffart expect Litecoin and Hedera will also get spot ETFs, but aren’t convinced there’ll be much demand for them.
XRP has entered a consolidation phase after reaching a multi-year high of $2.90 during the first week of December. The cryptocurrency’s price action has left investors uncertain about its next move, fueling speculation about whether XRP will surpass the critical $3 mark or if the cycle top has already been set. This indecisive environment reflects a broader trend of caution among market participants, as XRP’s future remains unclear. Related Reading: Ethereum Whales Load Up: Bullish Sign Or Bear Trap? Ali Martinez, a prominent crypto analyst, recently shared insights suggesting that XRP has been trading within a bull flag pattern, a classic continuation signal in technical analysis. According to Martinez, the key to unlocking XRP’s next rally is overcoming the $2.60 resistance level. A breakout above this threshold could set the stage for XRP to push past $3 and potentially explore even higher price levels. As the market closely watches XRP’s movements, the $2.60 level has become a critical battleground for bulls and bears alike. With momentum building and the broader crypto market showing strength, XRP’s ability to break free from its consolidation phase could determine whether it sets new highs or faces a potential reversal. For now, all eyes remain on its next major move. Preparing For The Next Rally? XRP has been in a volatile consolidation phase since December 3, experiencing a 34% retrace followed by a 36% bounce, though it remains below its local high of $2.90. This price action reflects a tug-of-war between bullish momentum and market hesitation as investors speculate on XRP’s next move. Despite the back-and-forth, XRP’s structure shows promise for another significant rally. Top analyst and investor Ali Martinez recently provided insight into XRP’s price, sharing a technical X analysis highlighting the current bull flag pattern. According to Martinez, this setup indicates a potential uptrend continuation once XRP clears the critical $2.60 resistance level. If this breakout occurs, Martinez predicts XRP could “be off to the races,” targeting an ambitious $4 price level. The $2.60 resistance is key to breaking XRP out of its current range, and a successful move above this level would likely trigger bullish momentum. Furthermore, reclaiming the $2.90 local high would signal the start of price discovery, with XRP poised to surpass its next psychological milestone at $3.31. Related Reading: Bitcoin Breaks ATH Pushing Back Into Price Discovery – BTC To $130K? As XRP consolidates, its future hinges on overcoming these resistance levels. The current bull flag pattern and broader market sentiment suggest the potential for a breakout, but the timing and strength of the move remain uncertain. Investors continue to watch closely for signals of confirmation. XRP Price Action: Levels To Watch XRP trades at $2.57, edging closer to the critical $2.64 resistance level. This price point is pivotal for XRP’s near-term trajectory, as clearing it would open the door to testing the $2.90 local high. Breaking through these levels in the coming days could spark a massive rally, potentially driving XRP into uncharted territory above its all-time high (ATH). The $2.64 mark is a key barrier that must be surpassed to confirm bullish momentum. If XRP successfully pushes past this hurdle, it will likely attract fresh buying interest, accelerating its upward movement. A move beyond $2.90 would further validate the trend’s strength and set the stage for significant gains. Related Reading: AAVE Dominates DeFi Lending – Metrics Reveal 45% Market Share However, failure to break above $2.64 could leave XRP vulnerable to downside pressure. Maintaining support above $2.33 would be crucial in this scenario to avoid a deeper correction. Losing this level might signal a shift in sentiment, potentially leading to a more pronounced retracement. Featured image from Dall-E, chart from TradingView
Recent price action in the overall crypto market has seen the XRP price reversing into bullish momentum in the past 24 hours. Notably, buying trends and mentions on social media show that the bullish sentiment has never departed from XRP, even during its price rejection at the $2.9 level earlier this month. Interestingly, crypto analyst […]
Crypto analyst TradinSides has suggested that it might be time for investors to start closing their XRP long positions. This came as the analyst revealed a bearish pattern, which showed that the XRP price could witness a significant crash. XRP Price Could Crash As Head And Shoulder Pattern Forms In a TradingView post, TradinSides predicted that XRP could crash as the price could form the Head and Shoulders pattern, driving the crypto to $2.2 or below. The analyst stated that this price correction could happen if some bullish fundamentals don’t happen for the altcoin as expected. The fundamentals that TradinSides cited include the RLUSD stablecoin and the upcoming XRP ETFs. Related Reading: Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH While these fundamentals present a bullish outlook for the XRP price, the crypto analyst stated that XRP still stands under heavy selling pressure due to the SEC’s decision to appeal the Ripple case ruling, which is impacting demand and market sentiment. TradinSides alluded to SEC Commissioner Caroline Crenshaw’s reappointment and how it could ultimately impact the Ripple case and the XRP price. The analyst noted that Crenshaw’s reappointment is set for December 18. However, if Crenshaw’s renomination fails, Donald Trump could nominate a new Commissioner. Crenshaw’s renomination is significant as the SEC must file its opening brief in the appeal case on January 15. If she is reappointed, she could vote in favor of the Commission filing its opening brief since she has been known to take an anti-crypto stance on several occasions. The crypto analyst believes the altcoin could face selling pressure if the SEC pursues the appeal. On the other hand, if the SEC withdraws its appeal, TradinSides predicts that the Commission could also withdraw its appeal. This would lead the agency to approve the pending XRP ETF applications, which could drive demand up. If this doesn’t happen, the crypto analyst predicts that the Head and Shoulders pattern could drive the XRP price to $2.2. The State Of Things In an X post, crypto analyst Dark Defender provided an update on the current XRP price action. He stated that the 4-hour time frame confirms the break for XRP. The analyst added that the daily time frame will be confirmed above $2.52. Once XRP breaks above that level, Dark Defender predicts that the altcoin will then rally to $2.72. Related Reading: Dogecoin Fails To Follow Bitcoin’s Recent Uptick: Is A New ATH Still Feasible This Cycle? The crypto analyst also highlighted crucial targets to watch out for. He stated that $5.85 and $8.76 are short-term targets. Meanwhile, he mentioned that $2.29, $2.24, $2.10, and $2.02 are support levels to watch out for. Dark Defender has before now predicted that the XRP price would eventually reach $18 in this market cycle. At the time of writing, the XRP price is trading at around $2.41, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
XRP’s latest pullback forms a classic bullish continuation structure, with a profit target above $15.
The XRP price has been trading on a consolidation path after reaching a six-year high of $2.9 on December 3. The cryptocurrency has struggled to maintain upward momentum, and recent analysis points to the playout of a descending channel. According to an analysis on TradingView, XRP’s price movement suggests a corrective downtrend confined within a descending channel on the daily chart. Nonetheless, XRP is on track for a rebound to the upside, with price targets around its current all-time high. Corrective Downtrend And Key Support Levels According to a TradingView analysis, XRP has been experiencing a corrective downtrend since December 3. On that day, the cryptocurrency reached a peak of $2.9 on Binance but faced rejection and dropped to a low of $2.25 on the same day before closing at $2.5. This marked the beginning of a bearish phase, as XRP subsequently formed two more consecutive daily bearish candles. Related Reading: XRP Price In Motion: Analyst Reveals The Next Major Supports And Resistances While the token attempted a brief upward rebound, the move was met with another rejection. The alternating pattern of upward and downward movements resulted in the formation of lower highs and lower lows, which is a characteristic of a descending channel. The descending channel is a temporary phase of price correction rather than a prolonged bearish outlook. Within this context, the TradingView analysis identifies initial support levels at $1.8890 and $1.6, which align closely with the 0.618 and 0.786 Fibonacci retracement levels when drawn from the $2.9 high. These levels are support zones where the cryptocurrency could stabilize if downward pressure persists. A successful defense of these supports might act as a springboard for a bullish reversal, paving the way for the next upward leg in XRP’s price trajectory. Failure to hold these levels could increase bearish pressure on the XRP price and drive the price further down to the most notable support at $1.5. Related Reading: Dogecoin Fails To Follow Bitcoin’s Recent Uptick: Is A New ATH Still Feasible This Cycle? Potential Rebound And Target Levels For XRP Price If the XRP price successfully rebounds from the identified support zones, it is expected to challenge resistance at $2.8, marking the first milestone on its upward journey. A notable break above $2.8 would open up a run towards the final target of $3.3450. At the time of writing, the XRP price is trading at $2.41 and is down by 0.9% and 2% in the past 24 hours and seven days, respectively. Reaching the $3.345 level is tantamount to a 39% increase from the current price levels. Furthermore, this would put the XRP price close to its current all-time high of $3.4. The bullish momentum required to reach $3.345 could also push the XRP price into new all-time highs from that point. Featured image created with Dall.E, chart from Tradingview.com
Ripple CTO David “JoelKatz” Schwartz has outlined how RLUSD—the upcoming stablecoin on the XRP Ledger—could initially trade at highly inflated prices, possibly even $1,200, despite its intended $1 peg. Speaking via X, he highlighted early supply bottlenecks, speculative fervor, and the fundamental market mechanics of stablecoins as factors likely to drive any short-lived spike. Why […]
With the XRP price set to make its next move, crypto analyst Dark Defender has revealed the next major support and resistance levels for the crypto. The analyst also suggested that XRP’s next move could happen sooner than expected. Next Major Support And Resistance Levels For The XRP Price In an X post, Dark Defender mentioned $2.42, $2.52, $2.71, and $5.85 as the next major support levels for the XRP price. Meanwhile, the crypto analyst highlighted $2.29, $2.24, $2.10, and $2.02 as the next major support levels for XRP. The analyst made these remarks while also alluding to a bull flag structure that had formed on XRP’s daily chart. Related Reading: Bitcoin Price Dominance And Altcoin Season: What The Sudden Volatility Means For The Market Dark Defender asserted that the XRP price would make its next move by tomorrow, noting that the current bull flag had reached its limit. The crypto analyst had recently highlighted a weekly bull flag on the XRP chart, which showed that the crypto could reach double digits in this market cycle. In his most recent X post, Dark Defender also provided an update on his XRP/BTC pair analysis. He stated that what was expected from the XRP price was coming and suggested that it might have already begun. Before now, the analyst predicted that XRP would record “tremendous” gains against its Bitcoin pair. Meanwhile, crypto analyst Ali Martinez recently highlighted a bull flag forming on the XRP price’s 4-hour chart. Based on this pattern, the analyst stated that XRP could experience a brief correction, then break out above $2.46 and rally to $4, which would mark a new all-time high (ATH) for XRP. Two Possible Scenarios For The Third Wave In an X post, crypto analyst CasiTrades outlined two possible scenarios for the third wave of the XRP price’s move to the upside. In the first scenario, XRP could record a typical move, extending to the 2.618 Fibonacci level. This puts the price target at $3.82, the crypto’s current ATH. Related Reading: Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week Meanwhile, for the second scenario, CasiTrades stated that if this third wave doesn’t extend, the XRP price could record the extension play in the fifth wave. If the third wave doesn’t extend, the price target will be $3.23 instead of $3.82. She added that this target is near XRP’s current ATH, so the extension play might not occur. CaiTrades cautioned that these are just projections and that the XRP price could adjust with the actual highs. However, she is confident that a big move is coming, as XRP has consolidated with minimal movement over the last day. At the time of writing, the XRP price is trading at around $2.51, up over 6% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
A crypto analyst has shared an XRP price chart, hinting at a potential breakout above $10 if the prominent altcoin can replicate a past fractal. The analyst urges the XRP community to monitor this fractal closely, highlighting the need to monitor price movements in the coming weeks. XRP Price Eyes $16 As Analyst Spots Bullish Fractal An XRP supporter on X (formerly Twitter), known as ‘LUDXRP,’ has released a detailed chart analysis, predicting that the XRP price could climb to an ambitious price target of $16.15. The analyst mentioned the presence of a historic fractal on the XRP chart. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything The fractal pattern, indicated by the blue circle in the chart, highlights a significant upward movement in the XRP price. Following the movements of the chart, if XRP can replicate this fractal, it could trigger a significant price rally toward $16.15. Multiple green horizontal lines have also been shown in the chart, spotlighting different resistance and support zones that could trigger a reaction in the XRP price. With XRP trading at $2.42, the horizontal trend lines above its current price are seen as crucial resistance levels. The analyst highlighted intermediate price levels like $2.8, $4.1, $7.6, and $12.7 as crucial resistance levels, which XRP must surpass before reaching the ambitious target of $16.15. Additionally, the chart identifies $2 as a potential support level, warning that if the price drops below this mark, it could lead to a possible price dip to $1. With the possibility of breaking above $16, the XRP supporter has urged community members to monitor the fractal on the price chart closely. He emphasized the importance of XRP maintaining an upward trend within the blue circle, which could trigger his projected price increase toward $16. XRP To See “Face Melting” Rally This Christmas A crypto analyst identified as the ‘Charting Guy’ on X has expressed optimism about XRP’s future price outlook. According to the analyst, XRP could experience a ” face-melting “ rally to new highs by Christmas and in late January. Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green The analyst has stated that if XRP continues to follow past bullish trends seen in 2017, the market will likely consolidate for another two weeks until Christmas. He disclosed that this bullish projection was primarily based on XRP’s fractal rather than relying on Fibonacci levels. In response to a comment from a crypto community member, the Charting guy agreed that by December 30, XRP would experience a series of strong green weeks, potentially driven either by the Christmas hype or the bullish sentiment surrounding the RLUSD stablecoin. The analyst also agreed that January 20, the inauguration day of Donald Trump as the United States (US) President, could mark the XRP price top, which the market would likely consider a “sell the news event.” Featured image created with Dall.E, chart from Tradingview.com
KaJ Labs, the developer behind the on-chain enterprise platform Atua AI (TUA), has committed $100 million to advance artificial intelligence (AI) applications within the XRP ledger ecosystem. The announcement, made on December 12, 2024 in Dubai, UAE, aims to develop AI-driven solutions tailored specifically for XRP’s infrastructure. XRP Meets AI According to the official press […]
An analyst has explained how XRP could end up traveling to the $4 level if its 4-hour price can break out of a recent bull flag pattern. XRP Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali Martinez has talked about how the 4-hour price of XRP has been forming a Bull Flag recently. The “Bull Flag” here refers to a pattern in technical analysis (TA) that, as its name suggests, looks like a flag on a pole. The pattern forms whenever the asset’s price follows up a sharp uptrend with a period of consolidation towards the downside. The initial upwards move corresponds to the ‘pole,’ while the consolidation period makes up for the ‘flag.’ Related Reading: Dogecoin, XRP Flashing ‘Overlooked’ Bullish Signal, Santiment Reveals In flag patterns, this consolidation specifically happens inside a parallel channel. That is, between two parallel trendlines marking successive tops and bottoms in the price. When the trendlines are converging, the pattern is known as a pennant. The upper level of the flag can be likely to provide resistance to the price, while the lower level may act as support. A break out of either of these trendlines can imply a continuation of trend in that direction. A bull flag is considered to be a continuation pattern, so the probability of a breakout happening above the resistance level may be higher than that of the support line failing. Like the bull flag, there is also a pattern called the bear flag. This one works much in the same way, except for the fact that the pole is made by a sharp move down and the flag represents a brief phase of consolidation towards the upside. Now, here is the chart shared by the analyst that shows the bull flag that XRP has recently been traveling inside: As displayed in the above graph, the 4-hour XRP price has just seen a rise to the upper level of the bull flag consolidation channel. When the same retest occurred a couple of days ago, the asset found rejection, but it’s possible that this might be the time it finds a break. Martinez has pointed out, however, that the cryptocurrency has witnessed another signal alongside this retest: the completion of a Tom Demark (TD) Sequential sell setup. The TD Sequential is a TA indicator that basically points out probable locations of tops and bottoms in any asset’s value. It involves two phases, with the first, which is known as the setup, occurring after price observes nine candles of the same color. Related Reading: Crypto Suffers $1.6 Billion Liquidations As XRP, DOGE Down 10% XRP has finished this type of TD Sequential phase with nine green candles, meaning that the indicator is now signaling a potential reversal to the downside for the coin. As such, the analyst thinks a brief correction would happen for the cryptocurrency first, before it manages to find a break above the $0.246 resistance. Bull flag breakouts can be of a similar length as the pole, so based on this, Martinez has chosen the $4 target for XRP. XRP Price At the time of writing, XRP is floating around $2.42, up more than 4% over the last seven days. Featured image from Dall-E, charts from TradingView.com
The XRP price continues to exhibit a notable display of strength despite its corrective phase since it reached above $2.8 on December 3 for the first time in almost seven years. Interestingly, technical analysis shows the corrective phase has been highlighted by an ABC corrective pattern on the daily candlestick chart. Consequently, the XRP price […]
A Falling Wedge pattern has emerged on the XRP price chart, fueling speculation of a bullish reversal to new highs. According to a crypto analyst, XRP could reach three potential new price targets if it can break out of the Falling Wedge, with $2.8 being the highest target. Falling Wedge To Trigger XRP Price Surge To $2.8 The XRP price has been on a powerful uptrend in the past month, jumping from $0.5 to over $2 in just one month. Acknowledging this impressive performance, a crypto analyst on TradingView, known as ‘MBM_Crypto,’ has revealed that the XRP price has undergone a pullback and is currently “cooling off” in a Falling Wedge pattern after experiencing its massive upside move. Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s What Happened Last Time A Falling Wedge is a technical chart pattern that indicates a potential price reversal to the upside. Typically seen as a bullish signal, this pattern often appears during a downtrend, featuring two converging trend lines sloping downwards. The TradingView analyst shared a chart detailing the XRP price action in a 2-hour time frame, highlighting the presence of a Falling Wedge pattern. The chart pointed out key areas where XRP is likely to encounter selling pressure, resistance, and indicate optimal buying levels for investors. The analyst suggests that purchasing XRP when its price breaks above $2.51 could be a strategic move, indicating a potential for a bullish breakout following the conclusion of its current consolidation phase. Additionally, he shared key take-profit targets for investors, suggesting that XRP was on track to potentially hit three bullish price milestones if it successfully breaks out of its Falling Wedge pattern. The first target for XRP is $2.6, followed by the second projected leap to $2.7, while the third and highest target is positioned at $2.8. For the XRP price to achieve these key price levels, the TradingView analyst has suggested that it will have to break above the blue resistance zone at $2.42, thus confirming a potential bullish continuation for the cryptocurrency. While the analyst is confident about his optimistic price projection, he has also acknowledged the possibility of a temporary pullback to $2.15 or even $1.96. Following this price correction, the crypto expert believes that XRP could eventually break out of the Falling Wedge and take off. Analyst Says XRP Is ”Super Bullish” Despite trading at $2.4 after experiencing a slight decline in the past weeks, analysts remain highly optimistic about XRP’s future price prospects. Dark Defender, a prominent crypto analyst on X (formerly Twitter), has declared that the XRP price is “super bullish” during this cycle. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible The analyst observed that XRP is on the verge of finalizing the ABC Corrective Wave pattern in the daily time frame, signaling a potential reversal and the beginning of an uptrend. This pattern will be confirmed once XRP breaks the $2.52 level. Dark Defender has forecasted that the XRP price could exceed this level within 24 hours, triggering a path to the $5.85 target before potentially skyrocketing to $18.22. Featured image created with Dall.E, chart from Tradingview.com
The XRP price break above the $1 and $2 price levels in recent weeks has put the cryptocurrency on the most bullish trajectory since 2018. Although the XRP price is seemingly consolidating since this notable run, analysts continue to anticipate another remarkable run-up that would eventually see it breaking into new all-time highs. According to […]