Crypto analyst CryptoBull predicts XRP could surge to $3.84 if it maintains its position above $1.56 by Sunday’s close. The analyst shared a technical analysis on X, pointing to a breakout from XRP’s multi-year consolidation phase between $0.30 and $1.00.
XRP trades at $1.54, marking a 9.08% gain within 24 hours. The digital asset continues to test the $1.56 resistance level, which acted as a rejection zone during the 2021 bull run. The token’s price movement shows a clear break from its previous trading levels, supported by increased buying volume.
If #XRP closes above this line on Sunday ($1.56), there will be nothing to stop it until $3.84. pic.twitter.com/TkSGsJkeYx
— CryptoBull (@CryptoBull2020) November 23, 2024
The weekly chart reveals a pattern of higher highs and lows, validating the current uptrend. Large green candles on the weekly timeframe demonstrate strong buyer interest at elevated price levels. The breakout structure suggests minimal selling pressure as XRP approaches the key resistance zone.
Historical Price Levels Guide Future Targets
The $3.84 target aligns with XRP’s previous peak from the 2017-2018 bull market cycle. Between 2022 and 2023, XRP established a solid foundation through extended consolidation near the $0.30 to $1.00 range. This accumulation phase preceded the current price advancement.
Support zones at $0.90 and $0.50 serve as safety nets should the price retrace. The $0.90 mark represents the previous breakout point, while $0.50 marks a heavy consolidation area before the latest rally began.
Read also: Why Is Stellar (XLM) Price Up?
Market Structure Points to Potential Breakout
CryptoBull’s analysis focuses on the weekly timeframe of the XRP/USDT trading pair. The current price action tests a major horizontal resistance that could determine XRP’s next directional move. A successful break above $1.56 might clear the path toward higher valuations.
The buying pressure behind the recent price increase appears in the volume metrics. Weekly chart data shows strengthening momentum as XRP approaches the resistance threshold. The token’s technical setup displays characteristics typical of assets preparing for extended upward moves.
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