Technical Analysis Insights by Popular Analyst
  • Dark Defender predicts a significant rise for XRP based on historical price fluctuations and technical analysis.
  • The Ichimoku Kinko Hyo cloud indicator and the RSI trend are likely to confirm a bullish breakout for XRP.

After recovering the key support level of $0.40, XRP price is slowly showing signs of recovery. According to the price structure, the next important objective for the token is to maintain a bullish base by breaking above the $0.425 level.

Today, the well-known crypto analyst and trader Dark Defender Revealed Technical analysis of XRP price suggests that a significant upside is likely to occur in the future.

In a tweet, Dark Defenders predicted a similar rally using historical price patterns. The recent rally and bounce back at the 23.60% Fibonacci support level at $0.3917 have led to the prediction: Ripple Initially, it will look for resistance at $0.50.

XRP Heads for Breakout and Bullish Reversal

As per the prediction, XRP will break out of the triangle pattern on the weekly chart shared by Dark Defender, with targets of $1.88, $5.85, and $18.22. Moreover, the breakout of the Ichimoku Kinko Hyo will confirm the strong bullish trend of the Ripple token.

The RSI indicator appears to be trending down towards the oversold zone, which usually signals a decrease in selling pressure and a possible bullish price reversal.

On the other hand, the previous report CNF featured former Goldman Sachs analyst Murad Makhmudov. It is written as XRP. Along with Cardano (ADA), it is known as a “cult meme coin.” Despite these conflicting views, XRP continues to show resilience. At the time of writing, XRP is worth approximately $0.4409Up 1.62% Within the last 24 hours.

Also, as previously mentioned reportPro-cryptocurrency lawyer Billy Morgan recently acquired XRP at around $0.40. The transaction signals that some investors are becoming confident in XRP’s bullish breakout potential, despite mixed market sentiment.

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