XRP Trading Near $2, Analyst Predicts Target of $2.13
XRP is trading just below the $2 mark, which was a local top during the 2021 bull cycle. The price has been rising steadily due to bullish momentum, with investors and analysts watching for a breakout confirmation above this resistance level. A successful breach could initiate a sustained rally.
Analyst Dark Defender provided insights indicating XRP may reach $2.13 soon before a brief correction. He expects further gains after this pullback as bullish sentiment continues to grow. A confirmed breakout above $2 could lead to new multi-year highs, while failure to surpass this level may result in short-term volatility. The $2 mark holds historical significance and represents both an opportunity and a challenge for XRP.
XRP Attracts New Demand
XRP has increased over 50% this week due to fresh demand, driving its price towards new supply levels. Dark Defender's technical analysis on the 4-hour chart suggests XRP may touch $2.13 before a potential correction. He identified key resistance levels at $4.11 and $6.42, with a secondary price target of $5.85 following a support retest at $1.88.
The upcoming weeks will be critical for determining XRP's trajectory. While bullish sentiment prevails, corrections or consolidations are possible. A decisive break above $2.13 could lead to new highs, but failing to maintain key levels might invite volatility.
XRP’s performance and emerging demand make it one of the most monitored assets in the crypto market.
Reaching Multi-Year Highs
XRP is currently trading at $1.88 after a 285% increase since November 5. The price recently approached $1.95 and is now in a consolidation phase to gain momentum for a potential breakout past $2. This consolidation indicates XRP is preparing for upward movement.
The price action remains bullish, driven by strong market sentiment. Analysts are monitoring the $1.97 level, as breaking above it would signal the beginning of a new upward trend. A confirmed breakout past $1.97 could lead XRP to unprecedented highs, supporting predictions of a parabolic rally.
Consolidation near current levels shows XRP faces temporary resistance, and key support zones are being observed to maintain bullish momentum. If upward pressure persists, XRP's targets may quickly exceed historical levels, reinforcing its status as a leading asset in the crypto space. XRP continues to be a focal point for traders and investors as it approaches the $2 threshold.
Featured image from Dall-E, chart from TradingView