XRP has surged by an impressive 24.2% in the past week, hitting the overbought zone on November 10 and gaining an additional 24.78% since. The current Relative Strength Index (RSI) now stands at 79.76, signaling that the market remains firmly in overbought territory.
Curious about XRP’s next moves? Crypto analyst Dark Defender shares his outlook for what could lie ahead.
According to Dark Defender, XRP recently broke past a major resistance level at $0.6649, with its sights now set on the next key mark of $0.74. This upward trend fits in well with positive predictions for XRP’s price, indicating potential for continued growth.
Earlier this year, XRP was priced around $0.62 but dropped to $0.50 by January 31. It bounced back in mid-March, reaching a peak of $0.74, before entering a consolidation phase between $0.66 and $0.38. On November 12, XRP broke out of this range and now trades around $0.69, suggesting fresh momentum.
Why Is $0.6649 So Important for XRP?
Emphasising the historical importance of the crucial level of $0.6649, the crypto specialist points out that this level has been very important for the price action of XRP over the past two years. He predicts that if the market maintains its hold above this level it could move ever higher.
The analyst projects that if XRP holds above $0.6640, it could eventually reach $1.03, marking a mid-term target. This price level represents a notable milestone and a promising point for investors to watch.
Both the weekly and monthly XRP charts show strong bullish momentum, according to Dark Defender. With these positive indicators and critical support levels in play, XRP’s price outlook looks encouraging, especially if it holds above its key levels.
In conclusion, XRP’s recent performance and strong chart signals suggest that the rally could continue.
With strong support behind it, XRP’s bullish momentum may just be beginning its next chapter.
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