Analyst Identifies Minimal Resistance for XRP, Predicts Potential $15 Target
XRP is currently trading at approximately $2.56, reflecting an increase of over 5% in the last 24 hours. The trading volume has surged by 135% to $10.73 billion.
Key points include:
- XRP has breached a seven-year ascending triangle pattern, indicating potential long-term gains.
- Support level identified at $2.38 with minimal resistance above current prices.
- Analyst predictions suggest XRP may challenge its previous all-time high of $3.40, with a long-term target of $19.
- Improved sentiment towards altcoins as regulatory concerns in the U.S. are easing.
- The RSI for XRP is around 68, suggesting strong momentum but caution for possible short-term pullbacks.
- Current price dynamics suggest a potential target of $2.7 in the short term.
XRP's price dynamics are further supported by bullish signals from MACD indicators. However, broader market trends indicate a cooling off period.
XRP price with RSI and Bollinger Bands | Source: Trading View
XRP price with MACD | Source: Trading View