At the end of December XRP ran into difficulties, like all cryptocurrencies, however token has chances for a potential breakout. After testing the critical Fibonacci correction level of 0,618 XRP showed signs of bullish divergence on the RSI.
This support level may have set the stage for another up move. The question now is whether XRP break through resistance and trigger a long-awaited rally.
Over the last couple of months, price action has been XRP was sluggish, now the Fibonacci correction level of 0,618 has been tested, proving price stability.
This support level is often seen as a strong reversal point, which is confirmed by a bullish RSI divergence at this level, signaling that XRP ready for the next phase.
The next major obstacle for XRP resistance level will be $2,38. A successful break above this level will mark the beginning of sub-wave 3, a phase that typically exhibits impulsive strength.
Until this resistance is broken, XRP will remain in the consolidation phase (W2/D), and the next main target for wave D will be the $2,60 mark.
Statistical analysis of previous cycles XRP tells us that the next phase could see significant growth. According to market expert Javon Marks, XRP There is potential to grow to $16,50 and more.
Such growth could provide a plus of 7200%, resulting in the price XRP will reach values between $111 and $168. And while such forecasts are speculative, they highlight the growth potential XRP in the coming months.
Several technical indicators are consistent with bullish sentiment around XRP. The RSI has entered overbought territory, which signals strong momentum but also suggests that caution may be needed.
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