XRP Poised for a Price Surge as Analyst Highlights Key Levels
- XRP surgd 129% lst wk, rcliming $1 for th first tim in thr yrs.
- Anlysts highlight $1.08 s pivotl for rlly continution, with trgts st t $1.35 nd byond.
- Ovrbought RSI t 83.10 signls cution; bulls must dfnd $1.0373 mid potntil pullbcks.
XRP hs bn th cntr of ttntion ftr rmrkbl pric surg lst wk, with mrkt prticipnts gr to s if th cryptocurrncy cn sustin its momntum. Ovr th wk nding Novmbr 16, XRP rllid from $0.55 to n imprssiv $1.26, mrking 129% incrs. This jump llowd it to rclim th $1 mrk for th first tim in thr yrs. Howvr, rsistnc t $1.26 triggrd pullbck, lving the coin consolidting within nrrow rng.
Dspit th rtrcmnt, XRP hs lrgly hld bov th $1 mrk, signling strong support. Btwn Novmbr 17 nd 21, th cryptocurrncy trdd btwn $1.006 nd $1.19. Anlyst King Solomon dscribd this consolidtion s hlthy phs, crucil for th nxt potntil rlly. H highlightd th $1.08 pric lvl s pivotl point, noting tht monthly clos bov this figur could triggr wht h trmd n bsolut rockt in XRPs pric trjctory.
XRPs Key Levels to Watch
As of now, XRP is trding t $1.1020, slightly bov th $1.1 mrk. King Solomon strsss th importnc of bulls dfnding this lvl in th vnt of mrkt corrction. Cutioning potntil pullbck, h hs djustd his trgt to $1.35. A rlly to th Fiboncci 1.618 lvl t $1.3457 is ssntil bfor Novmbr nds.
Adding wight to this bullish outlook, th tokn rcntly formd goldn cross significnt tchnicl pttrn tht occurs whn th 50-dy moving vrg crosss bov th 200-dy moving vrg. Alongsid this, th Avrg Dirctionl Indx (ADX) is trnding upwrd, rinforcing th possibility of furthr upwrd momntum.
Rsistnc lvls to wtch includ $1.97, its high from April 2021, nd th ll-tim high of $3.54. Brching ths lvls could pv th wy for XRP to trgt $5, psychologiclly significnt bnchmrk, with possibl long-trm trgt of $10 if bullish momntum prsists.
Potential Risks Amid Overbought Conditions
Dspit th bullish indictors risks rmin. XRPs Rltiv Strngth Indx (RSI) stnds t high 83.10, indicting ovrbought conditions. If th brs tk ovr, nothr pric drop could hppn. Its importnt for bulls to hold th $1.0373 support lvl to prvnt furthr dclin.
With nin dys lft in Novmbr, XRPs prformnc ovr th coming dys will likly dtrmin whthr it cn chiv brkout. Th $1.08 pric lvl nd $1.35 trgt rmin criticl for th ltcoins bullish mbitions.
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Text source: TronWeekly
