XRP Profit Target Set Between $8.43 And $13.58

Crypto analyst Bobby A has released a roadmap indicating a potential take-profit range for XRP between $8.43 and $13.58, based on an analysis of multiple charts.

XRP Price and Market Analysis

  • The monthly XRP/USD chart shows multi-month consolidation above "Base Camps" with higher lows and expansion beyond long-term moving averages and Bollinger bands.
  • Fibonacci extensions suggest a take-profit zone between $8.43 and $13.58, aligning with past market peaks.
  • Indicators such as RSI, stochastic, and MACD suggest trend continuation rather than exhaustion.

XRP price analysis

Market Capitalization and Broader Market Trends

  • XRP's total market capitalization shows stability above 2018 highs, indicating strong support and potential for further growth.
  • The Fibonacci projection on market cap aligns with the proposed take-profit zone.

Crypto market cap

Macro Risk Indicators

  • The iShares Russell 2000 ETF (IWM) suggests a risk-on environment, supportive of liquidity flowing into crypto markets.
  • RSI, stochastic, and MACD indicate positive momentum in small-cap stocks, which could correlate with increased interest in high-beta crypto assets like XRP.

iShares Russell 2000 ETF

Bitcoin Dominance

  • Bitcoin dominance is declining, suggesting a shift of capital to large-cap altcoins, including XRP.
  • Bobby forecasts a movement towards mid-to-low 40% levels for BTC dominance, typically favorable for altcoin performance.

Bitcoin dominance

At present, XRP is trading at $2.84.

XRP price