XRP maintains $1 support level after 3-year milestone
Multiple analysts project targets up to $2.82
On-chain data reveals strong buy orders at key levels
XRP has maintained its position above the crucial $1 threshold following last week’s remarkable 100% surge, marking its first return to this level in nearly three years. Ripple, currently trading at $1.15, has established strong support despite a minor retracement from its weekend peak of $1.265.
XRP Technical Analysis Points to Higher Targets
Market analyst SBZung has identified significant potential for upward movement, highlighting $1.06919 as a critical level. “A sustained position above this mark could trigger a 160% rally toward $2.82,” the analyst noted. Following this analysis, XRP has successfully reclaimed this key level.
Can XRP get back on top of 1.069?If so, then +160% to 2.82 is my next target above. pic.twitter.com/yoYUjt4l2k
— $TSLA Tracker (@SBZung) November 17, 2024
Supporting this bullish outlook, CryptOpus outlined a series of progressive targets at $1.6569, $2.0374, and $2.4169, representing potential gains of 80%, 120%, and 160% respectively.
Leb Crypto has confirmed a significant breakout from XRP’s multi-year consolidation phase, emphasizing $0.94 as a crucial support level for continued bullish momentum. The analyst identified $1.6 and $1.96 as the next key resistance levels to overcome.
“This breakout represents a fundamental shift in XRP’s market structure,” Leb Crypto stated, highlighting the importance of maintaining support above $0.94.
Multi-year consolidation breakout is now confirmed. Powerful.Key support = $0.94 (MUST protect for bull continuation)Next key resistances = $1.6 , $1.96#xrp https://t.co/wc8qrtHEdK pic.twitter.com/6Va9SaDVnm
— LE₿ C®️YPTO (@leb_crypto) November 17, 2024
On-chain researcher Tokenicer has revealed substantial buy orders reinforcing the $1 support zone. Data shows major accumulation, including $1.15 million in buy orders at $1 and an additional $1.06 million at $1.01.
Despite encountering a $3 million sell wall at $1.3, the overall market structure remains positive. The confluence of technical analysis and on-chain metrics suggests the $1 level has transformed from resistance into psychological support, potentially serving as a springboard for further appreciation.
The market consensus points to key support zones at $0.94, $1, and $1.06919, with major resistance levels at $1.6, $1.96, and $2.82, as XRP maintains its bullish trajectory following the historic break above $1.
