XRP Targets Potential Gains Against ETH With Key Ichimoku Cloud Flip

XRP is showing a rare strength signal against ETH, according to crypto analyst Matt Hughes. The 2-week Ichimoku cloud flip, which hasn't been meaningful since 2021, indicates a potential regime change. If XRP manages to hold above the cloud, it could represent a significant shift in market dynamics.

XRP's Potential Outperformance Against ETH

  • The XRP/ETH pair shows a 2-week Ichimoku cloud flip, suggesting potential support where resistance often prevailed before.
  • Current price level is around 0.00062 on the chart.

XRP/ETH chart: 2-week Ichimoku cloud

XRP's Path to $9

  • On the daily XRP/USD chart, price remains within a consolidation phase, respecting horizontal levels and Gann fan lines.
  • Key breakout threshold identified at $2.30; surpassing this could lead to further targets at $2.59 and $2.95.

XRP daily chart: Gann fan

  • Weekly chart targets include Fibonacci extensions at $3.09882 and $9.00194, with momentum potentially pushing prices higher.
  • The strategy involves clearing USD range triggers and then converting previous resistance into support.

XRP weekly chart target the 2.618 Fib

Failure to close above $2.30 might revert XRP back towards $1.78, but the long-term bullish outlook remains unchanged. At press time, XRP is trading at $1.9799.

XRP price chart