XRP ‘just days’ away from all-time high breakout, according to analyst
The post XRP ‘just days’ away from all-time high breakout, according to analyst appeared on BitcoinEthereumNews.com.
As XRP’s price attempts a short-term recovery, the token’s technical setup suggests a breakout to a new all-time high backed by massive whale accumulation might be imminent. With XRP holding steady above the crucial $2 support zone, the asset is consolidating near the 0.786 Fibonacci retracement level, a zone commonly associated with bullish trend reversals, according to an analysis by The Great Mattsby in an X post on January 10. In this case, a breakout above the 0.886 Fibonacci level at $2.36 could serve as a launchpad for XRP to surge toward its all-time high. The analysis highlighted XRP’s current strength, which remains above the Ichimoku Cloud, a key indicator that signals a bullish trend. The cloud acts as a support zone, helping to cushion XRP against potential downward price movements. XRP price analysis chart. Source: TradingView/The Great Mattsby Additionally, XRP is trading above the Conversion Line ($2.33) and Base Line ($2.31), reinforcing the strong upward momentum and overall trend stability. The Conversion Line represents short-term price momentum, while the Base Line indicates longer-term price equilibrium, supporting a bullish outlook when the price is above them. Regarding the next price movement, the trading expert noted that XRP might briefly revisit the upper boundary of the Ichimoku Cloud around $2.35 before making its decisive move upward. Should the price break above $2.36, it could ignite a rapid rally to new all-time highs, which he believes might be just days away. “This daily chart suggests that $XRP might just be weeks, if not days away from a breakout towards all-time highs,” the analyst stated. XRP’s price path to $3 Meanwhile, the bullish outlook is also shared by another cryptocurrency trading analyst, pseudonymously known as Captain Faibik, who, in an X post on January 11, suggested that the Ripple-affiliated token might target $3.66.…
Filed under: News - @ January 11, 2025 11:20 am