This article is also available in Spanish.
As the price of XRP is set to make its next move, the crypto analyst Black Defender it revealed the next major support and resistance levels for the crypto. The analyst also suggested that XRP’s next move could happen sooner than expected.
Following are Major Support and Resistance Levels for XRP Price
In an X postDark Defender mentioned $2.42, $2.52, $2.71, and $5.85 as the next major support levels for XRP price. Meanwhile, the crypto analyst highlighted $2.29, $2.24, $2.10, and $2.02 as the next highs. support levels of XRP. The analyst made these comments while also pointing to the bull flag structure that has formed on the XRP daily chart.
Related Reading
Dark Defender asserted that the XRP price will take its next step tomorrow, noting that the current bull flag it had reached its limit. A crypto analyst recently highlighted a weekly bull flag on the XRP chart, which indicated that the crypto could reach double digits in this market cycle.
In his latest X post, Dark Defender also provided an update on his XRP/BTC pair analysis. He stated that what was expected in the price of XRP is coming and said that it may have already started. Before now, an analyst predicted that XRP would record “huge” gains against its Bitcoin counterpart.
Meanwhile, crypto analyst Ali Martinez recently a bull flag on the 4-hour XRP price chart has come to light. Based on this pattern, the analyst said that XRP may face a short correction, then break above $2.46 and consolidate to $4, which would mark a new All-time High (ATH) for XRP.
Two Possible Situations of the Third Wave
In X post, crypto analyst CasiTrades described two possible scenarios for the third wave of the XRP price to the upside. In the first case, XRP can record a normal movement, passing through the 2.618 Fibonacci level. This puts the price target at $3.82, which is the current ATH for the crypto.
Related Reading
Meanwhile, in the second scenario, CasiTrades said that if this third wave does not extend, the price of XRP could record an extended play the fifth wave. If the third wave does not extend, the target price will be $3.23 instead of $3.82. He added that this target is close to XRP’s current ATH, so an extended play may not be possible.
CaiTrades cautioned that this is only speculation and that the price of XRP may correspond to a real high. However, he is confident that a big move is coming, as XRP has been mixed with little movement in the last day.
At the time of writing, the price of XRP is trading around $2.51, up more than 6% in the last 24 hours, according to the report. data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
Source link