Ripple’s native token, XRP, is back in the spotlight, experiencing a remarkable 25% price surge over the past week. After recently dipping to $0.3911 in July, XRP is now trading above $0.53, showcasing a strong recovery in the volatile market. Prominent crypto analyst Dark Defender predicts a bullish rally ahead for XRP, citing a breakout of the bullish pattern observed on the weekly chart.
Crypto analyst Dark Defender suggests that XRP is showing promising signs of a strong upward trend. This positive outlook is based on the Fisher Indicator weekly chart, which has recently confirmed a bullish reversal.
Having already broken through the initial resistance at $0.4623, XRP is now poised to test higher resistance levels. Meanwhile, analysts are particularly keen to see if XRP can maintain its momentum and close above the key $0.53 level by the end of the week.
Currently, XRP is testing the interim Fibonacci level at $0.5286. Closing the weekly candle above $0.53 would indicate that the bullish trend is likely to continue, exciting traders and investors alike.
Ripple is seeing a strong upward trend, driven by increased interest around the $0.50 level. This rise has pushed XRP above $0.47, breaking through key resistance and moving past a long-term downward trend, showing a fresh wave of optimism.
Looking ahead, the next key target is the secondary mid-level resistance at $0.6044, which could further enhance XRP’s upward trajectory. However, the key level to watch is the master fundamental resistance at $0.6649.
If XRP manages to break through this level, it could trigger a series of substantial price increases, referred to as “God Candles,” paving the way for what some analysts call “Heaven’s Stairway.”
On the flip side, XRP is facing strong resistance at the $0.57 mark, a level that has caused pullbacks in the past. If Ripple can break through this barrier, it may aim for the next target of $0.62. However, if it gets rejected, we could see the price stabilize between $0.57 and $0.47.
Read Also: Five Altcoins With 100x Potential To Buy Now
The staking feature for crypto ETFs will likely be approved by the Donald Trump administration. …
The TRUMP price has dropped 90% from its all-time high, which was recorded three months…
BNB is experiencing buying demand as overall market sentiment turns positive. Although the price is…
The wider altcoin market, led by memecoins, has signaled a bullish breakout soon amid ongoing…
Coinbase has held the stance that crypto assets are not securities but instead are digital…
In a massive market like the crypto market, finding a coin to invest in can…
