XRP’s Consolidation Phase Nears End, Bulls Eye $8.76
The post XRP’s Consolidation Phase Nears End, Bulls Eye $8.76 appeared on BitcoinEthereumNews.com.
XRP’s consolidation phase suggests a potential breakout with targets at $5.85 and $8.76. XRP/XAU pair could see growth, driven by gold’s potential topping formation. Rising derivatives activity signals increasing investor confidence in XRP’s price action. XRP has been steady on the daily chart, with signs suggesting the price might be gearing up to break out. Analysts believe the cryptocurrency is gearing up for a big price move, with optimistic forecasts targeting significant resistance points. Trading interest in XRP’s derivatives sector has also jumped, showing greater investor interest. XRP Eyes Higher Price Walls According to analyst Dark Defender, XRP is approaching a breakout phase, with Wave 3 pointing to a move towards the $5.85 resistance level. The soon-to-come targets stay at $5.85 and $8.76, while important support areas are pinpointed at $1.88 and $2.33. If XRP keeps its upward momentum, it could test these resistance levels in the near future. Technical indicators back up this idea, with the Relative Strength Index (RSI) showing more strength. The cryptocurrency seems close to finishing its holding pattern, possibly paving the way for a price surge. XRP almost finalised the consolidation on the daily Chart, as seen from the RSI lows. Wave 3 is preparing to fire the bullet against the $5.85 parapet. The short-term target is $5.85 and $8.76.Supports: $1.88, $2.33 We are warming up, phase II.Not Financial Advice. pic.twitter.com/5Xo6UDkHbf — Dark Defender (@DefendDark) February 10, 2025 XRP/Gold Ratio Shows Possible Big Gains Analyst EGRAG CRYPTO points out the chance for XRP’s value to grow a lot when compared to gold (XAU). This different kind of analysis suggests that as gold (XAU) loses value in U.S. dollar terms, XRP’s value against gold will increase, eventually affecting its dollar price. Related: XRP Supply Limit Stands: No, Ripple Can’t Just Add More Historically, the XRP/XAU comparison…
Filed under: News - @ February 11, 2025 6:23 am