Cryptographic Analyzer defender of darkness It has shown the pattern in which the price of XRP has formed on the daily chart. In his analysis, he called the $1.95 price level very important as it could determine XRP's next move.
XRP price forms a descending triangle on the daily chart
in one Post XDark Defender noted that the price of XRP has formed descending triangle On the daily time frame, he added that a breakout of the pattern is imminent as long as $1.95 is protected. The analyst highlighted $2.22, $2.72, $2.90 and $5.85 as the initial targets XRP could reach if a price breakout occurs.
Related content: Ethereum price arms for a medium-term reversal against Bitcoin in bullish Q1 2025
Meanwhile, critical support levels for XRP price are $1.95, $1.88 and $1.63. According to Dark Defender's previous analysis, XRP could still go into double digits in the long term. The analyst highlighted the bull flag that had formed on the daily chart, noting that it was similar to the one that Formed earlier in a period of 4 hours
Dark Defender stated that the bull flag formed on the daily chart is targeting Fibonacci level $5.85 and penetrates to $10.1979. The crypto analyst noted that this is a historical pattern and Fibonacci wave approach. He added that the latest Fibonacci targets are at $18.22 and $36, and there is no significant target in between.
The analyst's accompanying chart showed that XRP price could reach these targets in the first half of 2025. defender of darkness stated that a god candle is waiting for next year. This came as he noted that XRP had a breakout year in 2024 and had stabilized for about six years. XRP has a year-to-date (YTD) gain of over 228%.
From the RSI point of view
Cryptographic Analyzer Egrag Crypto It provided insights into XRP price performance from the Relative Strength Index (RSI) perspective. The analyst stated that 74, 70 and 65 are the three key RSI levels to watch out for. In the most bullish scenario, he noted that XRP should ideally reach 88 or even 96.5 and above for the RSI curve to continue its upward trend.
Related reading
Egrag Crypto said that if XRP price breaks out of the 74 range, it will be “incredibly” bullish. Meanwhile, a drop to 70 could indicate a bearish move. However, he added that a bounce from this RSI level is necessary to survive Bull running.
Likewise, a drop to 65 is also bearish for XRP, but as long as the crypto doesn't fall below that level, then the bounce represents significant movement ahead. The cryptocurrency analyst warned that a close below the 65 RSI level could signal the end of the uptrend.
At the time of writing, XRP is trading around $2, down more than 3% in the last 24 hours. data From CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
