Ripple's XRP has experienced a strong 6% increase in the last 24 hours, trading slightly below the $1.50 mark. The altcoin is up 36% in the last week, with many traders eyeing the $2 target. Here's the latest price analysis from analyst Josh of Crypto World:
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š Current Market Trends
XRP is in a bullish trend, breaking through key resistance levels and showing signs of upward momentum.
The recent retest of a previous Fibonacci resistance level, now acting as support around $1.30, gives a solid foundation for potential growth.
Key Support Levels:
$1.30 (Golden pocket area)
$1.42 to $1.43 (Short-term support)
$1.25 to $1.30 (General support zone)
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š Resistance Levels to Watch
$1.50 to $1.51: Immediate resistance around the Fibonacci level.
$1.60 to $1.70: Strong resistance zone from previous highs.
$2.00: A breakout above $1.70 could push XRP towards this major target.
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ā ļø Analyst Warning
The breakout comes with a slight increase in risk, as the new support line has only two touchpoints, making it less reliable.
However, with a successful breakout, the technical target could be $1.77, representing a potential 20% upside from the current level.
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Whatās Next for XRP?
Watch for a possible rejection around $1.50, but if XRP breaks this level, the next resistance lies between $1.60 to $1.70.
If the support at $1.30 holds, we could see XRP continuing its rally toward $2.
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š¢ What Do You Think?
Do you believe XRP can break above $1.50 and target $2, or will it face a pullback? Let us know your thoughts in the comments!
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