XRP Price In Motion: Analyst Reveals The Next Major Supports And Resistances
15 December 2024 - 12:30PM
NEWSBTC
With the XRP price set to make its next move, crypto analyst Dark
Defender has revealed the next major support and resistance levels
for the crypto. The analyst also suggested that XRP’s next move
could happen sooner than expected. Next Major Support And
Resistance Levels For The XRP Price In an X post, Dark Defender
mentioned $2.42, $2.52, $2.71, and $5.85 as the next major support
levels for the XRP price. Meanwhile, the crypto analyst highlighted
$2.29, $2.24, $2.10, and $2.02 as the next major support levels for
XRP. The analyst made these remarks while also alluding to a bull
flag structure that had formed on XRP’s daily chart. Related
Reading: Bitcoin Price Dominance And Altcoin Season: What The
Sudden Volatility Means For The Market Dark Defender asserted that
the XRP price would make its next move by tomorrow, noting that the
current bull flag had reached its limit. The crypto analyst had
recently highlighted a weekly bull flag on the XRP chart, which
showed that the crypto could reach double digits in this market
cycle. In his most recent X post, Dark Defender also provided
an update on his XRP/BTC pair analysis. He stated that what was
expected from the XRP price was coming and suggested that it might
have already begun. Before now, the analyst predicted that XRP
would record “tremendous” gains against its Bitcoin pair.
Meanwhile, crypto analyst Ali Martinez recently highlighted a bull
flag forming on the XRP price’s 4-hour chart. Based on this
pattern, the analyst stated that XRP could experience a brief
correction, then break out above $2.46 and rally to $4, which would
mark a new all-time high (ATH) for XRP. Two Possible Scenarios For
The Third Wave In an X post, crypto analyst CasiTrades outlined two
possible scenarios for the third wave of the XRP price’s move to
the upside. In the first scenario, XRP could record a typical move,
extending to the 2.618 Fibonacci level. This puts the price target
at $3.82, the crypto’s current ATH. Related Reading: Bitcoin
Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000
As Early As Next Week Meanwhile, for the second scenario,
CasiTrades stated that if this third wave doesn’t extend, the XRP
price could record the extension play in the fifth wave. If the
third wave doesn’t extend, the price target will be $3.23 instead
of $3.82. She added that this target is near XRP’s current ATH, so
the extension play might not occur. CaiTrades cautioned that
these are just projections and that the XRP price could adjust with
the actual highs. However, she is confident that a big move is
coming, as XRP has consolidated with minimal movement over the last
day. At the time of writing, the XRP price is trading at
around $2.51, up over 6% in the last 24 hours, according to data
from CoinMarketCap. Featured image created with Dall.E, chart
from Tradingview.com
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