XRP Targets Breakout As Resistance Levels Define Next Key Price Moves: Report
- XRP trades within the crucial Fib 0.702 zone ($1.11$1.22), a confluence halting its current rally.
- A breakout to $1.60$2.30 could face selling pressure from past cycle holders, but $2+ closes may spark exponential growth.
- Super Guppys green flip hints at a potential peak by March 2025, following historical price trends.
XRP is at a critical point as of now and is trading in the Fibonacci 0.702 zone between $1.11 and $1.22. This zone of resistance has been constructed from the corrective retracements from the January 2018 and April 2021 levels, and has produced a clear confluence that has halted the upward progress of the cryptocurrency. In the previous X post, Egrag Crypto highlighted this level as the key area that could define the further direction of XRP.
Egrag anticipates a critical breakout within the $1.60$2.30 price range. This zone may face selling pressure from the holders who got burned during the previous cycle and are likely to do so again, term it as PSTD scars. However, the outlook shows that it is not only about retesting the previous high but underlines the need for a weekly or monthly close above $2. Analyst describes it as a multiplier, which may lead to the acceleration of growth.
Next XRP Cycle Peak
More positive signs are being seen from the Super Guppy indicator which has changed to green on the two week chart. Such change has previously been observed prior to a considerable price increase of token.
In the 2018 cycle, XRP hit its ATH 266 days after the Super Guppy flipped green. In the 2021 cycle, it only took 84 days to see the top of a cycle. These movements seem to have an average time of about 175 days, and looking at the trend, the next peak for Ripple coin might likely happen by March 2025.
XRPs Future Movements
To sustain such a move, the market mechanisms and the faith of the long-term investors will be of essence to XRP. Should the price break and hold above $2, it could signal a possible shift higher, and open the door for further gains. At the time of writing, toekn is trading at $1.18 per coin, a 8.01% rise in the last 24 hours and a 121.84% rise in the last 30 days.
Source: TradingView
Therefore, XRPs future movements are expected to critically define its position in the crypto market via technical analysis and historical trend analysis. While at these critical junctures, all attention is still focused on XRP to breakthrough through the resistance level and take advantage of the gains made in the previous cycles.
Read more: https://www.tronweekly.com/xrp-targets-breakout-as-resistance-levels/
Text source: TronWeekly
