Price of XRP for ‘God Candles’?

Analysis optimistic technical analysis on XRP via X suggests a bullish reversal and “God Candles.” Various technical indicators and chart patterns suggest a bright prognosis for XRP.

Price of XRP for ‘God Candles’?

Analysis focuses on two trend-changing markers. First, breaking a declining trendline. This move is crucial since XRP broke its first important barrier and may reverse its mid-March downward trend. This is significant because it signals a market transition from bearish to bullish.

Fisher Transform, essential for recognizing large price reversals, supports this trend reversal. Price data is transformed into a Gaussian normal distribution via the Fisher Transform to predict market direction.

On the weekly chart, a ‘Golden Cross’ occurs when the Fisher Transform's faster line crosses over the slower line, a positive market signal. This occurrence is crucial because it confirms the trend reversal highlighted by the descending trendline breakthrough.

Ladies and gentlemen, XRP obtained the Fisher Indicator weekly bullish Reversal certification. Crypto analyst: Initial resistance collapsed at $0.4623, instantaneously.

However, the digital asset is still below the Ichimoku Cloud, signaling difficulty ahead. The comprehensive Ichimoku Cloud indicator shows momentum and future support and resistance.

Although the breakthrough from the declining trendline and the bullish Fisher Transform signal are optimistic, the price being below the Cloud signals that XRP has yet to overcome all obstacles and become more bullish.

The chart also shows numerous important Fibonacci levels for predicting future resistance and support zones. After breaching resistance at $0.4623, XRP is testing the intermediate Fibonacci level at $0.5286. Dark Defender stresses the need of closing above this level to maintain bullish momentum: Our intermediate Fibonacci Level, $0.5286, is tested. I hope this week's candle closes over $0.53.”

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