XRP Faces Critical Price Levels as Analysts Predict Potential Moves
Crypto analysts are divided on the future of XRP, with predictions ranging from a potential rise above $3 to a fall below critical support levels.
Market Sentiment
- Ali Martinez identified a head-and-shoulders (H&S) pattern on XRP's daily chart, signaling a possible bearish trend.
- XRP is currently down about 5% in the past 24 hours.
- If the H&S pattern holds, the target price could drop to $1.50, down from its current price of $2.24.
- Peter Brandt suggests a more pessimistic target of $1.07 if XRP loses the $2 support level.
- Failure to maintain the $2 level may lead to a decline towards $1.20-$1.07.
Bullish Outlook
- A break above $3 would invalidate the H&S pattern and may trigger a bullish rally.
- Martinez noted that surpassing $3 could lead to previous cycle highs.
- CryptoELITES forecasts a more aggressive target of $15 based on a cup-and-handle pattern.
- For XRP to maintain upward momentum, it must stay above $3.36. Significant resistance levels are at $8.34 and $13.55 based on Fibonacci retracement.
XRP Price Analysis
- XRP recently hit a low of $2.25 and failed to hold above the 20-day Exponential Moving Average (EMA) at $2.36, which now serves as resistance.
- The Relative Strength Index (RSI) is at 49.58, indicating neutral momentum but showing increased selling volume.
