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Cryptocurrency analyst Dark Defender indicates that XRP is currently at a critical juncture regarding its price trajectory. He emphasizes the significance of the bullish flag formation that has recently developed on the XRP chart and outlines the price targets that traders should monitor.
XRP Coin Price Targets
Dark Defender highlights that XRP is at a pivotal point, identifying resistance levels at $2.42, $2.52, $2.72, and $5.85. Support levels are noted at $2.29, $2.24, $2.10, and $2.02. He expresses concern that there may not be much time left for an upward movement in XRP’s current bullish flag formation. Previously, Dark Defender had predicted that XRP could reach a new all-time high of $5.85.
He anticipates that XRP will complete this movement soon. To surpass its current all-time high of $3.80, XRP must overcome the $2.52 resistance level, with potential for the price to rise as high as $18.
Various Scenarios and Technical Analysis
Other analysts share similar predictions. Ben Armstrong forecasts that XRP could reach $4.50 by year-end or January, while Ali Martinez indicates that XRP is at a breakout point that could lead to a rise to $4.
Egrag Crypto presents two potential scenarios for XRP’s price. In the first scenario, XRP is expected to fluctuate between $2.27 and $2.50 before experiencing an upward breakout. The second scenario suggests a drop below $2.27, leading to consolidation between $2.17 and $2.27 before continuing upward.
Egrag Crypto also stresses that XRP needs to oscillate on the chart longer for its movements to align with Exponential Moving Averages (EMA). Emphasizing a healthy price range is crucial to stabilizing the charts.
Analysts conclude that XRP is set to test critical levels in the near future, which will be pivotal in determining its price movement. It is essential for traders to keep a close eye on the identified resistance and support levels.
