XRP to ‘make extraordinary moves’ after clearing this level
The post XRP to ‘make extraordinary moves’ after clearing this level appeared on BitcoinEthereumNews.com.
The price of XRP continues to consolidate above the $0.50 support level, and a crypto analyst has suggested that the token has the potential for further upside if it breaches several resistance marks. Based on the token’s technical analysis, the analyst, Dark Defender, suggested in an X post on May 26 that XRP is on the brink of breaking through a critical resistance zone. This breakthrough could trigger a substantial price surge. In making the prediction, the analyst focused on the Heikin Ashi Candles combined with the Fisher Indicator. He explained that this method effectively identifies trends by analyzing highs, lows, and opening and closing prices over a specified time frame. According to the expert, combining these indicators provides a smoother trend direction, making it easier to predict potential market movements. Based on his chart analysis, the analyst pointed out that XRP’s challenging zone lies between $0.6044 and $0.6649. XRP price analysis. Source: Dark Defender Key technical indicators to watch Dark Defender emphasized that once the weekly candle closes above $0.6649, XRP will gain much stronger momentum, allowing it to move toward higher Fibonacci levels. “Based on the Heikin Ashi Candles & Fisher Indicator, one of my favourites, indicates the trend shift clearly on the weekly time frame. Once the weekly candle closes above $0.6649, XRP will be much stronger. We are in Grand Wave 3, and XRP will make extraordinary moves above $0.6049,” the expert said. To substantiate his analysis, Dark Defender pointed to the Ichimoku Clouds, confirming the Fibonacci levels within the identified resistance range. Notably, the Ichimoku Cloud is a technical indicator that can assess potential future price movements and identify key support and resistance levels. It’s worth noting that XRP remains at the center of the crypto market, with the token failing to make any substantial…
Filed under: News - @ May 26, 2024 2:20 pm