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XRP has seemingly lost steam in its push towards the $4 mark, showing stability in the short term. However, the asset’s technical setup hints at a potential 200% rally. Specifically, one key indicator, the Fibonacci extension tool, paints a bullish picture that XRP could hit the $9 mark as the asset seeks to achieve higher gains following a multi-year consolidation below the $1 mark, according to analysis shared by The Great Mattsby in an X post on January 25. XRP price analysis chart. Source: TradingView/The Great Mattsby Notably, Fibonacci extensions predict potential price targets based on prior price movements. In XRP’s case, the 2.618 Fibonacci extension level on the weekly chart aligns with the $9 price mark. For XRP to reach the $9 target, it must first overcome several resistance levels. The immediate hurdle is $3.50, a psychological level reinforced by past price action. Beyond that, $5.89 represents the next critical resistance, a level that aligns with the 1.618 Fibonacci extension. Finally, breaking through $7.20, which coincides with the 2.272 extension level, would pave the way for XRP to target the 2.618 extension at $9. Meanwhile, as XRP consolidates above the $3 mark, Carl Moon’s analysis in a January 26 X post provided insights on what to expect in the short term for the Ripple-affiliated token.  XRP price analysis chart. Source: TradingView In this line, if XRP embarks on a bullish rally, it could hit $3.40 in the short term, followed by a medium-term surge toward $4.20. This outlook is based on the fact that XRP’s price action is tightening within a symmetrical triangle on the four-hour chart. Notably, this formation often signals a breakout. XRP fundamentals  Aside from the technical element, XRP is surrounded by other fundamentals likely to influence its price, with the regulatory aspect among the top.…

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Filed under: News - @ January 26, 2025 2:14 pm