XRP has emerged as a standout leader in the recent crypto rally, delivering massive gains and fueling optimism among investors. The price has skyrocketed by an astonishing 225% in under three weeks, showing no signs of slowing down as momentum builds. This surge has positioned it as a top-performing altcoin, capturing the attention of analysts and traders alike. Related Reading: Avalanche Soars 20% In 24 Hours – Analyst Reveals Next Price Target CrediBull, a prominent analyst on X, has shared a detailed technical analysis highlighting XRP’s strong bullish structure. According to his insights, XRP is currently in a well-defined 5-wave impulsive move, a pattern often associated with sustained upward trends. If it continues to hold a critical support level, CrediBull predicts that the price could soar past $2 in the coming weeks, marking a significant milestone for the altcoin. As excitement grows, market participants are closely watching its performance. The ongoing rally suggests that XRP could hit new highs and pave the way for broader altcoin gains. Whether it can maintain its upward trajectory will depend on its ability to sustain key support levels and capitalize on the current bullish sentiment. For now, XRP remains a focal point in the market, with its next moves eagerly anticipated. The Bullish Rally Could Continue The recent bullish phase for XRP might be just the beginning as optimism continues to build among analysts who foresee a higher price in the months ahead. However, key price levels must be tested and maintained for XRP to sustain its momentum and advance to the next leg up. Prominent analyst CrediBull shared his insights on X, revealing that XRP is currently in a clear 5-wave impulsive move, a strong indicator of a bullish trend. According to his technical analysis, this pattern confirms that XRP’s absolute bottom was established at $0.49 earlier this year. He also emphasized the importance of the $1.05 level, the origin of the fifth subwave in this impulsive structure. CrediBull explained that if XRP falls below $1.05, it could signal the start of a larger Wave 2 correction, which would likely precede the next major upward impulse (Wave 3). However, if XRP holds firmly above $1.05, it would indicate that the fifth subwave is extending, potentially pushing the price to $2 or higher before any significant pullback occurs. Related Reading: Massive Ethereum Buying Spree – Taker Buy Volume hits $1.683B In One Hour This analysis reinforces the view that XRP’s current rally may just be the start of a broader bullish trend. Investors are now watching closely to see if XRP can maintain key support levels and confirm its extended move upward. XRP Hits Multi-Year Highs: ATH Next? XRP is trading at $1.45, following an impressive rally that saw the price touch $1.63 yesterday, marking its highest level since May 2021. This milestone has sparked optimism among investors, positioning XRP for a potential run to new all-time highs in the coming months. The sustained upward momentum reflects growing confidence in the price’s bullish trajectory. However, the recent surge also brings the possibility of consolidation. The price might need to cool off and gather strength below the $1.63 mark before continuing its upward movement. Consolidation phases are a natural part of any significant rally and can help establish stronger support levels for future price action. Related Reading: Bitcoin LTHs Start Taking Profits – Metrics Reveal Whales Are Actively Spending The key level to watch remains $1.05, identified as a critical support zone. If the price holds above this mark, it will reinforce its bullish outlook and set the stage for a potential breakout and continuation of its upward trend in the weeks ahead. Analysts believe that maintaining this level would be a strong signal of market confidence, paving the way for XRP to build on its recent gains and target new milestones. Featured image from Dall-E, chart from TradingView
In a new analysis, crypto analyst Dark Defender (@DefendDark) highlights a significant pattern in the daily XRP/USDT chart that suggests a possible sharp rise in the price of XRP. According to his analysis, the XRP price is possibly forming a technical pattern known as a “bull flag” after decisively breaking above the multi-year resistance at $0.6649, a move that has been further substantiated by two consecutive daily closes above this key level. XRP Price To Reach $1.03 This Week? A “bull flag” pattern occurs when the price of an asset moves sharply higher, then consolidates in a narrow, downward-sloping range, resembling a flag on a pole. This pattern is typically considered a continuation pattern, suggesting that after the consolidation phase, the price is likely to break out upward in the direction of the initial sharp movement. In the context of XRP, the flagpole was formed by the steep price increase from $0.52 leading up to the break above $0.6649. Furthermore, Dark Defender points out the Relative Strength Index (RSI), which is currently in the overbought territory at 84. An overbought RSI often indicates that the asset might temporarily pause or consolidate due to short-term selling pressure as traders take profits. Related Reading: XRP NVT Ratio Has Been High Recently: What It Means This aligns with the expectation of the consolidation phase of the bull flag pattern. However, an overbought RSI in the context of a bull flag pattern can also indicate strong underlying momentum, suggesting that once consolidation is complete, a breakout to the upside could follow. Dark Defender highlights the next substantial price target at $1.03, which could be achieved swiftly if XRP manages to ascend beyond the immediate resistance near $0.7496. Specifically, touches or minor closings above $0.7496, with potential surges to $0.76 or higher, are deemed critical for this bullish scenario to unfold. Should these conditions be met, Dark Defender expects that the price of XRP could rally to $1.03 within this week. Related Reading: XRP Surges To $0.74, Reaching Its Highest Price Since Mid-March: Here’s Why Notably, the analysis also rests on the understanding of Fibonacci levels, which are used extensively in crypto trading to predict potential support and resistance levels based on prior market movements. The level at $0.6649, now surpassed, could likely serve as a 70.20% retracement from the previous market high to low. If this level is breached to the downside, the bull flag pattern could extend more to the downside. Then, the 61.80% and 50% Fibonacci levels at $0.6044 and $0.5286 could serve as a support zone from which the XRP price could escalate above $1. The analyst states: “XRP closed 2 days in a row above $0.6649. Now we can say this Fibonacci Level is dead, too. There are no more substantial levels than this until $1.03. If we see touches above $0.7496, such as $0.76 or more, we can quickly expect the $1.03 this week.This is not financial advice but my expectation. Remember, XRP broke the multi-year (7) resistance of $0.6649 in NOVEMBER 2024.” At press time, XRP traded at $0.7086. Featured image created with DALL.E, chart from TradingView.com
An inverse-head-and-shoulder pattern is developing on the XRP weekly chart, awaiting a breakout toward $1.
Crypto analyst Doctor Magic (@Doctor_Magic_) has outlined three reasons for investors to consider buying XRP now. In a series of posts on the X, Doctor Magic detailed the dynamics and data points positioning XRP as a potentially lucrative investment in the current state of the market. #1 Relative Strength Of XRP The crypto analyst highlights the XRP price relative to Bitcoin (BTC) and its resilience in the broader market. “XRP’s strength against BTC and across the board is notable and should not be ignored at this point. When markets turn up again (soon) the pump on XRP will be violent!” This analysis is based on a chart that plots the market cap dominance of as a ratio against BTC and the entire crypto market on a weekly timeframe. The dominance percentage is a critical metric, serving as an indicator of market capitalization relative to BTC, and thus reflects relative investment flows and market preferences. From 2016 to 2021, XRP’s dominance displayed a significant downward trend, suggesting a period during which market preference leaned heavily towards Bitcoin. However, beginning in 2022, this trend leveled off, indicating a potential stabilization or bottoming relative to Bitcoin. This phase suggests that XRP may have found a floor in terms of its market cap dominance, setting the stage for a possible reversal. Related Reading: XRP Ledger Sees Sharp Decline In Major Metric That Threatens To Send XRP Price To $0.2 A key support level for XRP/BTC is identified at 0.00000750 by the analyst. This level has been tested multiple times without a decisive break, establishing it as a critical floor where market sentiment has consistently supported the price relative to BTC. In 2024, following a bounce off this support area, there was a noticeable increase in dominance, suggesting growing investor confidence in its potential for a recovery. In terms of dominance over the entire crypto market (XRP.D), the metric currently stands at 1.47%. After touching down in the support zone ranging from 1.02% to 1.05%, XRP.D also experienced an uptick, further underscoring the renewed market interest and potential bullish sentiment. #2 Recovery Post-Dump With Stable Open Interest Doctor Magic also highlights a notable aspect of the market behavior — its swift recovery from yesterday’s price crash without any increase in open interest (OI). “XRP has now retraced the whole yesterday dump with zero OI added. ZERO. And negative funding,” remarked Doctor Magic. Related Reading: Why XRP Price Won’t Skyrocket After Ripple-SEC Ruling: Crypto Pundit This recovery pattern is significant as it implies the rebound was not fueled by a surge in speculative trading or new positions being opened, but rather by solid buying interest, likely from investors confident in fundamentals or long-term potential. #3 Support From Historical Open Interest Level Finally, the crypto analyst points to the current levels of Open Interest (OI) for XRP, which aligns with a historical baseline that has consistently marked significant market tops and bottoms over the past four years. “OI on XRP at the baseline [blue line] that has marked every top and every bottom the last 4 years,” Doctor Magic notes. This observation suggests that current OI levels are at a critical juncture, indicative of potential turning points in the market. Historically, when OI reaches these levels, it has preceded major price movements. At press time, XRP traded at $0.5030. Featured image created with DALL.E, chart from TradingView.com
XRP has emerged as a standout performer among the top-100 cryptocurrencies by market capitalization today, recording a substantial 7% increase over the past 24 hours. This surge in XRP’s price occurs amidst swirling speculations of a forthcoming settlement or remedies ruling in the Ripple-SEC case. Amid these developments, XRP is dominating discussions on X (formerly Twitter), where a flurry of optimistic posts paint a bullish scenario for the cryptocurrency. Among the vocal proponents contributing to this positive outlook is crypto analyst Doctor Magic (@Doctor_Magic_), who shared several different time frame analyses for XRP. Short-Term Outlook For XRP (4-Hour Chart) The first chart posted by the crypto analyst shows the XRP/USD trading pair on a 4-hour time frame. The chart highlights the currently most crucial resistance zone (in red) just above the $0.70 mark. This resistance level is critical, as Doctor Magic suggests that surpassing this could pivot XRP towards new all-time highs (ATHs). Related Reading: XRP Price Jumps As Ripple Leadership Blasts SEC’s ‘Hypocritical’ Crypto Regulation However, he warns of potential short-term (LTF) rejections despite the higher time frame (HTF) indicators appearing bullish, advising traders to exercise caution with leverage long positions in this zone. “XRP most heavy resistance, get above that and we go for ATHs. Note that even though HTF XRP is primed on LTF this resistance could cause a LTF rejection, wouldn’t jump into leverage longs here.” The chart shows an uptrend line that XRP has successfully maintained, suggesting a strong bullish momentum. The focal point is the resistance zone above $0.70, which if breached, could potentially lead to higher price levels. The first target could be the price level above $0.90 which was last seen after the summary judgment by Analisa Torres on July 13 last year. A crucial element in Doctor Magic’s analysis is the breakout observed in the Relative Strength Index (RSI). The RSI demonstrates a clear upward breach of its previous trendline, signaling robust momentum. Currently at 67, the RSI is approaching the overbought threshold, which could suggest some notably bullish days ahead for XRP’s price action if the cryptocurrency runs red hot. Related Reading: XRP Price Poised For ‘Ultimate Breakout’ With $18 Price Target: Crypto Analyst Notably, the $0.70 zone as the key resistance area aligns with the Bollinger Bands analysis in the monthly chart. XRP surged above the middle band with the latest move and is now on the verge of breaking the upper band. “Today we confirm the breakout on monthly RSI. XRP is less than 10% to trigger volatility to come back which is at all time lows, $0.7 is the area to watch,” Doctor Magic explained. Long-Term Prediction For XRP (Weekly Chart) With regards to the higher time frames, Doctor Magic believes that it is too early to predict the cycle top price. Via X, he wrote, “Many of you are asking for my target on XRP, the answer is it depends. If I am right and alts lead the next leg up it will be the nail in the coffin for ‘it’s 2017 again’ and I will be looking for two tops, the second one will be determined by the first one.” The chart shared by the crypto analyst highlights several key Fibonacci retracement levels derived from XRP’s historical price movements, which could serve as critical points for potential reversals or continuation of trends. These include the 0.618 Fibonacci level at approximately $0.91, indicating a moderate resistance point. The 0.786 level sits at around $1.61, serving as a stronger psychological and technical barrier. The parity level or the 1 Fibonacci level is set at $3.31, which marked the April 2021 all-time high. Beyond this, the analysis extends into Fibonacci extension territory, with the 1.272 level at about $8.29, and the 1.414 level at roughly $13.37. The most notable and perhaps ambitious target is the 1.618 Fibonacci extension level, which is placed at approximately $26.60. The analyst concluded, “My point is it’s too soon to speak about final target, need more data for that and I will update when its time. For the impatient of you my best guess is we see double digits XRP and that $26.5 will be tagged.” At press time, XRP traded at $0.6539. Featured image created with DALL·E, chart from TradingView.com
Crypto analyst Dark Defender has shared an extremely bullish technical analysis on XRP via X, suggesting a bullish reversal and the possibility of “God Candles.” The analysis uses a variety of technical indicators and chart patterns to project an optimistic outlook for XRP. XRP Price Poised For ‘God Candles’? The core of Dark Defender’s (@DefendDark) analysis is focused at two indicators which suggest a change of trend. The first one is the breakout above a descending trendline. This move is critical as it means that XRP eliminated its first key resistance and suggests a potential reversal from the downward trend which started in mid-March. It is particularly noteworthy as it indicates a shift in market sentiment from bearish to bullish. Supporting this trend reversal is the Fisher Transform indicator, which is crucial for identifying major price reversals. The Fisher Transform uses price data to produce a Gaussian normal distribution to signal potential changes in market direction. Related Reading: XRP Resilience Sparks Further Gains As Price Surpasses $0.466 Level On the weekly chart, a ‘Golden Cross’ is visible where the faster line of the Fisher Transform crosses above the slower line, typically a bullish signal in market analysis. This event is essential as it provides confirmation of the trend reversal signaled by the breakout from the descending trendline. “Ladies & gentlemen, XRP had the highly bullish Reversal approval for the Fisher Indicator weekly. Initial resistance instantly broke at $0.4623!” the crypto analyst remarked. However, it’s important to note that the digital asset is still navigating below the Ichimoku Cloud, indicating that resistance still lies ahead. The Ichimoku Cloud is a comprehensive indicator that provides insight into the momentum and future areas of support and resistance. Related Reading: XRP Price Eyes Colossal 280% Breakout Amid CME Group Partnership While the breakout from the descending trendline and the bullish Fisher Transform signal are promising, the price remaining below the Cloud suggests that XRP has yet to clear all hurdles and establish a stronger bullish presence. Additionally, the chart also details several key Fibonacci levels that are critical for understanding the next potential resistance and support zones. After breaking the initial resistance at $0.4623, XRP is currently testing the interim Fibonacci level at $0.5286. Dark Defender emphasizes the significance of the price closing above this level to sustain the bullish momentum: “Our interim Fibonacci Level, $0.5286, is being tested. It would be great to close this week’s candle above $0.53.” Notably, the XRP price didn’t manage to close the week above this price. Despite that, XRP is currently continuing the upward trend, trading above $0.53 today. The next resistance point to level is at $0.6044. Surpassing this level could lead to the creation of multiple “God Candles,” suggesting a rapid and sustained increase in price. Dark Defender remarked, “Next week, we will test the secondary mid-level resistance of $0.6044. It’s crucial not to underestimate the master fundamental level for XRP, which is $0.6649. Above it, we can expect multiple God Candles, which will open the path to Heaven’s Stairway.” At press time, XRP traded at $0.53494. Featured image created with DALL·E, chart from TradingView.com