The XRP price may be on the brink of a spectacular turnaround. Positive technical analyses and market signals suggest a potential surge towards $4, with a key level that could be a game-changer. Are we about to witness a imminent rally?
The cryptocurrency market is constantly evolving, and XRP investors are closely watching the movements of their favorite asset. Recently, Ripple’s token attempted to break through a significant resistance zone between $2.55 and $2.62, but once again, the price was rejected. This zone has been a challenge for Ripple for some time, just like for many other altcoins in the market. Despite this rejection, the price has slightly retreated but is holding above crucial support levels.
Even with these minor declines, the overall XRP trend remains bullish. On the daily chart, this crypto continues to form higher highs and higher lows, a classic sign of an uptrend. Currently, the price is finding support around $2.30 to $2.34, an area that was previously a resistance zone. As long as XRP stays above this level, the bullish momentum should continue.
According to a recent technical analysis based on the Elliott Wave Theory, a popular tool for predicting market cycles, the token could still be in the middle of its fifth and final uptrend wave. This wave likely began when XRP hit a low in July last year.
If this pattern holds true, XRP could target new highs. It would have long-term price targets between $4.20, $5.00, or even $5.65 before a major market correction begins.
Currently, XRP is trading in a narrow range. A key resistance lies just above $3.30, while a strong support is found at $1.21. As long as the price remains above $1.21, the bullish scenario remains intact. However, a break below this level would weaken the current setup and could lead analysts to reconsider their forecasts.
In summary, the token seems poised to continue its upward trend if the current model holds. Investors will need to closely monitor key resistance and support levels in the coming days and weeks. If XRP manages to reach new highs, price targets up to $5 could become realistic in the medium term.
To invest before its potential rise to $4, here is a guide to buy this altcoin on Bitget, one of the top exchanges, in just a few minutes:
Passionate about the crypto world, he explores the blockchain ecosystem to extract the most essential insights. With his expertise in SEO and web writing, he transforms news and technical analysis into clear, engaging, and impactful content. His goal? To help investors better understand the opportunities and challenges of the crypto market.
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