XRP Price Analysis Reveals Key Support and Resistance Levels
Crypto analyst Dark Defender has identified key support and resistance levels for the XRP price, suggesting that a significant movement may occur soon.
Support and Resistance Levels for XRP
In an X post, Dark Defender listed major resistance levels at $2.42, $2.52, $2.71, and $5.85. The next support levels are $2.29, $2.24, $2.10, and $2.02. He noted the formation of a bull flag structure on XRP’s daily chart.
Dark Defender indicated that XRP's price movement could occur by tomorrow, as the current bull flag pattern has reached its limit. He previously suggested that this bull flag could lead XRP to double-digit prices in the current market cycle.
In his recent X post, Dark Defender updated his analysis of the XRP/BTC pair, stating that anticipated movements for XRP might have already started and predicted significant gains against Bitcoin.
Analyst Ali Martinez also observed a bull flag on XRP's 4-hour chart, suggesting a potential brief correction followed by a breakout above $2.46, leading to a rally towards $4, which would establish a new all-time high (ATH) for XRP.
Possible Scenarios for the Third Wave
Analyst CasiTrades outlined two scenarios for the upcoming third wave of XRP's price movement. The first scenario predicts a typical move extending to the 2.618 Fibonacci level, targeting $3.82, which aligns with XRP's current ATH.
The second scenario posits that if the third wave does not extend, the price target could adjust to $3.23 instead of $3.82, remaining close to the current ATH. CasiTrades emphasized that these projections are subject to change based on actual market conditions but expressed confidence in an impending significant movement due to recent consolidation in XRP's price.
As of now, XRP is trading around $2.51, reflecting a gain of over 6% in the past 24 hours according to CoinMarketCap.
