Two Major Fibonacci Levels Put XRP Price At $8.40 And $27
The post Two Major Fibonacci Levels Put XRP Price At $8.40 And $27 appeared on BitcoinEthereumNews.com.
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. XRP’s price action in the past seven days has been nothing short of impressive. The cryptocurrency reached above $2.6 again in the past 24 hours, the first time doing so since early March, about two months ago. This movement has aligned with the uptrend projected by multiple analysts, who are referencing Fibonacci levels to chart XRP’s future trajectory. Notably, a crypto analyst’s interesting outlook on social media platform X using Fibonacci levels suggests that XRP will reach $8.40 and $27 this cycle. Analyst Points To Fibonacci Targets At $8.40 and $27 XRP’s price structure in the current cycle has been significantly shaped by its breakout above a tightening wedge formation, which had compressed price action from 2021 through the early months of 2024. This formation, clearly visible on the monthly candlestick timeframe, served as a multi-year consolidation zone that capped upward momentum and defined a range-bound market. Related Reading The eventual breakout from this structure ended a prolonged bear market and began a fresh bullish phase. Although the past few months have been full of corrections and consolidations after XRP reached $3.31 in January, recent market momentum points to the next leg upward. A crypto analyst on social media platform X has pointed to two Fibonacci extension levels that could serve as the target zones during XRP’s next impulsive wave up. According to the analysis, XRP reached both its 1.272 and 1.618 Fibonacci extension targets in the last cycle…
Filed under: News - @ May 13, 2025 8:28 pm