- XRP could surge to $5.85 or $8.76 if it breaks $2.90 resistance.
- Key support at $2.25 and resistance at $2.50 are critical for XRP’s next move.
- RSI shows neutral momentum, while MACD suggests a potential bearish pullback.
XRP’s recent price movement has sparked excitement among investors, with analysts predicting significant price surges soon. Following a corrective phase, XRP is now showing signs of potentially testing key levels in the coming months.
Analyst Predictions Pattern Repeating Itself
Dark Defender’s analysis draws parallels between XRP’s current daily chart and the 2017 pattern, suggesting potential gains. The analyst highlights a correction structure on the 4-hour timeframe, which saw XRP rally from $1.2680 to $2.9070 in its last cycle. If XRP breaks above the $2.90 resistance, Fibonacci projections indicate short-term targets at $5.85 and $8.76.
Levi from Crypto Crusaders also shares a positive outlook. He suggests that XRP could be repeating the price action of 2017, where the cryptocurrency hit a target of $1.96. This year’s pattern could lead to a rise to $6.28 by the end of December, with Levi forecasting a rise toward $40 by January 2025.
Other experts, such as Amelie, also foresee a bullish scenario where XRP reaches $8-$13 in the short term. These projections highlight the potential for a dramatic price surge in the short term, with many market participants closely watching XRP’s movements.
Key Support and Resistance Levels
As XRP trades at $2.30, monitoring key support and resistance levels becomes crucial. Currently, $2.25 serves as a strong support zone, with a breakdown below this level potentially pushing the price down to $2.00.
On the other hand, resistance at $2.50 is a crucial level to watch. If XRP breaks through this barrier, it could open the door for a move toward $2.80, a level that has been previously tested during price rejections.
In addition to these immediate support and resistance levels, the Relative Strength Index (RSI) currently sits at 56.46, indicating neutral-to-slightly bullish momentum. However, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, suggesting that the bullish momentum may be waning.
