As a seasoned analyst with over a decade of experience in the crypto market, I have seen bull flags form and break more times than I care to remember. However, the current formation on XRP‘s chart has piqued my interest. The potential for a parabolic rally, as suggested by Dark Defender, is intriguing, especially considering his accurate prediction of the previous ATH.
According to cryptocurrency expert Dark Defender, the current price of XRP is at a crucial juncture where it’s making up its mind about its future direction. Notably, he pointed out specific price levels that investors should keep an eye on because the bullish pattern known as a “bull flag” has completed on XRP’s chart.
Crucial XRP Price Targets To Watch Out For
In a recent post on X, Dark Defender emphasized important resistance and support points to keep an eye on, since the price of XRP is at a critical juncture. The crypto expert pointed out potential resistance at $2.42, $2.52, $2.72, and $5.85, while suggesting $2.29, $2.24, $2.10, and $2.02 as possible support levels to watch for.
According to the analysis, XRP is expected to make its next move by tomorrow since it has reached the limit of the existing bullish flag pattern. Earlier, Dark Defender forecasted that the price of XRP could surge to a record high of $5.85.
According to the crypto expert, for XRP to experience a dramatic surge beyond its all-time high (ATH) of $3.8, it must first breach the barrier at $2.52. Furthermore, he anticipates that this digital currency could potentially reach even higher prices, up to approximately $18.
Ben Armstrong (also recognized as Bitboy) recently foretold that Ripple‘s value, XRP, is poised to attain a fresh all-time high. He expressed his belief that XRP will experience a significant surge, potentially reaching $4.50 before the end of this year or early in January. Similarly, crypto analyst Ali Martinez anticipates that XRP could soon burst through its current levels, which might propel its price up to $4.
Two Possible Scenarios For The Crypto
As a researcher delving into the cryptocurrency sphere, I recently came across an insightful post by crypto analyst Egrag Crypto. In this piece, he proposed two potential trajectories for XRP’s price as it prepares for its next significant shift.
For scenario B, the crypto expert predicts that the price of XRP might drop to around $2.27 before stabilizing within the range of $2.17 to $2.27. As this occurs, the analyst suggests that XRP could retest its lows in an effort to establish a double bottom pattern, which typically indicates a bullish trend continuation.
Egrag Crypto opined that XRP needs to range a bit longer to allow the Exponential Moving Averages (EMAs) to catch up, as the crypto is currently way ahead of them on the higher time frames (HTF). He added that a healthy range can stabilize the chart and prevent a significant price decline.
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2024-12-13 22:04