Recently, the price of XRP has been hovering near the key resistance level of $0.6649, and I believe this is crucial for future trends. To achieve higher targets, XRP must break through this threshold; only then can a potential rebound be initiated.
Currently, the price of XRP is around $0.5253, having risen about 1% in the past 24 hours. I see that if it can break through $0.6649, the next target for XRP will be $1.88, and it may even reach long-term targets of $5.85 and $18.22. These price targets are not arbitrary but are based on my analysis of market trends.
In my analysis, the price point of $0.6649 is very important, corresponding to the 70.20% Fibonacci retracement line, which has repeatedly become an obstacle for XRP's rise. If it can break through this point, XRP is expected to re-enter the upward trend of the third wave, further driving up the price.
Additionally, XRP must stay above key support levels, especially $0.3917 and $0.4850. These two price levels are not only support from technical indicators but will also help me assess future trends. If XRP falls below these supports, it could lead to a more bearish situation.
Another factor worth noting is the movement of Bitcoin. If Bitcoin can stabilize above $70,000, the price of XRP may rise to $12, an increase of over 2,000%. And if Bitcoin goes further, reaching $160,000, XRP could even soar to $27. The performance of Bitcoin has a significant impact on the entire market.
Despite some uncertainties in the current market, I remain optimistic about the future of XRP. Recent partnerships and market dynamics of Ripple make me believe that the current downturn XRP is experiencing may only be temporary. I will closely monitor these key support and resistance levels, looking forward to XRP achieving higher breakthroughs in the future.
