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Analyst Reveals Crucial Targets For XRP Price Following Bull Flag Formation
Crypto analyst Dark Defender has suggested that the XRP price is at a critical point as it decides its next move. This came as the analyst highlighted price targets to watch out for as the bull flag on XRP’s chart has fully formed.
Crucial XRP Price Targets To Watch Out For
In an X post, Dark Defender highlighted resistance and support levels to watch out for, as the XRP price is currently at a make-or-break point. The crypto analyst mentioned $2.42, $2.52, $2.72, and $5.85 as resistance levels. Meanwhile, Dark Defender revealed $2.29, $2.24, $2.10, and $2.02 as support levels to watch out for.
The crypto predicted that XRP would decide its next move by tomorrow. The analyst noted that there is no room left on the current bull flag for XRP. Before now, Dark Defender predicted that the XRP price could rally to a new all-time high (ATH) of $5.85.
The crypto analyst explained that XRP will need to break the $2.52 resistance level to record such a parabolic rally past its current ATH of $3.8. He also predicted that the crypto could further rally to as high as $18.
Crypto analyst Ben Armstrong, also known as Bitboy, recently predicted that XRP will soon reach a new ATH. He stated that the crypto is about to rip and will hit $4.50 by year-end or in January. Crypto analyst Ali Martinez also predicted that XRP was on the verge of a breakout, which could send its price to $4.
Two Possible Scenarios For The Crypto
In an X post, crypto analyst Egrag Crypto outlined two possible scenarios for the XRP price as it targets its next move. In the first scenario, the analyst stated that XRP could range between $2.27 and $2.50 and then record a breakout to the upside.
For scenario B, the crypto analyst stated that the XRP price could break down to $2.27 and consolidate between $2.17 and $2.27. As that happens, the analyst said XRP will retest the lows to build a double bottom, setting up a bullish continuation.
Egrag Crypto opined that XRP needs to range a bit longer to allow the Exponential Moving Averages (EMAs) to catch up, as the crypto is currently way ahead of them on the higher time frames (HTF). He added that a healthy range can stabilize the chart and prevent a significant price decline.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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