XRP recently experienced a notable rise, reaching $0.64, but it failed to hit the $0.70 mark and fell back to $0.61. Moreover, it seems to lack the explosive impact that market participants anticipate to reach the much-awaited $1 level.
Analyst’s Commentary on XRP
Known for his remarks on XRP, Dark Defender shared a post on April 10, drawing attention to XRP’s potential price movements.
Additionally, Dark Defender pointed out the XRP Fibonacci levels and emphasized the region between $0.6044 and $0.6649 in his analysis.
It appears significant that XRP has closed above the $0.6044 level in the last three days and is potentially moving towards the $0.6649 upper limit, which Dark Defender highlighted as a key point for an upward trend.
On another note, Dark Defender also pointed out the bullish signal from the MACD (Moving Average Convergence Divergence) indicator, which has taken on a positive appearance. According to the analysis, this outlook strengthens the bullish view for XRP.
According to Dark Defender, the Ichimoku Cloud, an important indicator, points to a significant spot on momentum. The indicator suggests that XRP could surpass the $0.6649 resistance level.
Furthermore, if XRP successfully overcomes the $0.6649 resistance level, the analyst believes the price could reach $0.9327 and then $1. These levels are considered very important by the analyst.
XRP is expected to break through $0.6649, stay above the Ichimoku Clouds, and continue its uptrend. Currently, the main support is at $0.6044. Targets above $0.6649 are $0.9327 and $1.
Will XRP Price Rise?
Amid these market movements, it appears that XRP is struggling to adapt to the market, especially compared to Bitcoin (BTC). This scenario could potentially cause XRP to drop further in market rankings.
Recently, XRP was almost overtaken by Dogecoin (DOGE), the undisputed leader in volume among meme coins.
Indeed, reaching the $1 level could be a critical turning point for XRP’s resurgence and could pave the way for greater gains. However, it’s important to remember that price movements could change depending on the outcome of the ongoing lawsuit between the Securities and Exchange Commission (SEC) and Ripple.
As of this writing, XRP is trading at $0.60817, following a 1.5% decrease.
