Analysts predict XRP is warming up for a potential major rally to $4.1 or $5.85 amid recent price fluctuations.
The bull run in XRP has stalled, and holders are growing impatient with the ongoing ranging pattern. After reaching a seven-year high of $2.87 last week, XRP’s explosive bull momentum lost its spark.
It has since dipped to nearly $2, rebounded, dipped again, and is currently in the process of rebounding. At press time, XRP is trading at $2.40, up 3% over the past 24 hours.
XRP Warming Up for $4.1 and $5.85
While XRP’s performance in the last few days has not been encouraging for market participants anxious for the next leg up, analysts are offering reassurance that the asset is merely warming up. Among them is Dark Defender, a widely followed technical analyst.
“We are warming up,” he said in a post on X, referring to XRP’s price action. He went on to highlight resistance levels and support zones that enthusiasts can watch for based on Fibonacci retracement levels.
According to Dark Defender, if XRP’s bull momentum regenerates, the next target for the asset is between $4.11 and $5.85. Notably, these price levels far exceed XRP’s all-time high, suggesting that the token could target an unprecedented price range in the short term.
For the more immediate target of $4.11, XRP would need to surge by 78.1%. Meanwhile, for the upper target of $5.85, XRP would require a more substantial 145% price increase to reach that level.
XRP Support to Watch
Dark Defender has also identified support levels at $2.13 and $1.88 in case XRP encounters bearish pressure that drags its price down. These levels are seen as favorable entry points or areas where an unexpected major correction could be defended.
Perspectives of Other Analysts on XRP’s Next Move
Other analysts have shared comparable views with Dark Defender regarding XRP’s next move when the bull run resumes. For instance, Ben “BitBoy” Armstrong has similarly argued that XRP could target $4.5 before experiencing a major price correction.
At the same time, some commentators have noted that XRP may first face resistance at its previous peak of $3.84. Successfully overcoming this barrier would then open the door for much higher price levels.
Meanwhile, while proponents are calling for a continuation of the bull run, critics are warning that XRP’s bull phase may have already concluded, with some suggesting a potential drop to $0.60.
However, other analysts have contested this forecast, believing that XRP may just be beginning its next major move. They cite its seven-year price compression and other bullish fundamentals surrounding the coin.
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