đ How High Can $XRP Go? Charting the Path to $1.75 and Beyond đ
Since the US election on Nov. 6, XRP has surged 134%, marking a major milestone by breaking above $1 for the first time since December 2021. With year- to-date returns exceeding 80%, traders are now eyeing its next big move.
Key Insights:
Current Market Behavior:
#XRP recently hit a 3-year high of $1.25 after a massive 42% single-day surge. The RSI (Relative Strength Index) peaked at an overbought level of 93, a signal not seen since 2017.
Support and Resistance Levels:
XRP is consolidating above the critical $1 support level, flipping it from resistance. A retracement to $0.936 (1.0 Fib level) could occur if a correction takes hold.
Triangle Breakout on Weekly Chart:
A seven-year-long symmetrical triangle pattern was broken in November, signaling a potential long-term bull run similar to the 46,440% rally in 2017. The next key level to break: $1.35, which could confirm a bull cycle.
What's Next for XRP?
Bullish Momentum:
If momentum continues, XRP could hit $1.75 (0.5 Fib level) in 2025, a 50% gain from current levels.
Potential catalysts: Regulatory clarity with the potential firing of SEC Chair Gary Gensler.
Approval of a spot XRP ETF in the U.S.
Bearish Correction:
A cooling-off period may see XRP test support at $0.936, a potential 18% decline from current prices.
The Road Ahead:
XRP's breakout hints at bullish potential, but technical indicators suggest caution. Traders should watch for:
A break above $1.35 for long-term growth. Potential corrections to accumulate at lower levels.
What's your take? Will XRP's rally sustain, or is a pullback on the horizon? Let's discuss!
