Three of the top crypto analysts in the XRP community have come together to share bullish analyses about their beloved token. JD (@jaydee_757), Dark Defender (@DefendDark), and EGRAG CRYPTO (@egragcrypto) have shared their insights on XRP’s recent performance. All three analysts agree that XRP’s breakout from a multi-month resistance level suggests the potential for further upward movement.
XRP Confirms Breakout
Dark Defender identified a “bull flag” pattern, a positive signal in XRP’s 4-hour chart. Dark Defender predicted this move a few days ago, and he confirmed its occurrence in the new post.
Read Also: XRP Price Abruptly Surged To $5,791 On Binance. Pundits Speculate On Likely Cause
XRP’s price surged above $0.55, validating this pattern. Dark Defender emphasized that the Ichimoku cloud provided crucial support, reinforcing the uptrend. The analyst believes XRP is targeting $0.66 in the 4-hour time frame.
Confirmed. https://t.co/tmmOAhuKYW
— Dark Defender (@DefendDark) October 30, 2023
JD’s Multi-Month Trendline Breakout
JD uses a daily time frame for his analysis and highlights the XRP price breaking a multi-month trendline resistance. JD emphasizes the importance of the $0.54 price level, suggesting that the longer XRP stays above this level, the less likely a false breakout becomes. JD also predicted a short-term rise above $0.60.
Notably, JD predicted this less than 18 hours before XRP crossed $0.6 on October 31. Although it has dropped below $0.6, it keeps threatening the bears at $0.59 for another chance to break the resistance level.
#XRP – *GASP!* Are we confirming the multi-month trendline breakout today? 😱😵Finally, people are paying more attention to the charts that been calling the crashes (& ignoring Hopium that keeps REKTin Dumb Money) SMH LOL! Let's go!
RETWEET/LIKE for update later tonight! $XRP… pic.twitter.com/aV8gL66kAN
— JD 🇵🇭 (@jaydee_757) October 30, 2023
The Battle at $0.55
EGRAG CRYPTO’s analysis aligns with the other two experts. He refers to the $0.55 level as “the ultimate battleground,” where bulls and bears are in a tug-of-war.
Egrag notes the bulls’ efforts to maintain candle closes above $0.55 while bears attempt to push the price below this threshold. The challenge now is to see two consecutive daily candles close above $0.55, and eventually, a weekly chart confirmation.
#XRP Short Term Analysis-Dangles & Bangs (Update):
The ultimate battlefield is taking place in the 0.55c arena, and the side that emerges victorious will claim the prize! 💪🏆
🕒 In the 4-Hour Time Frame: The #Bulls have been battling valiantly, successfully closing full body… https://t.co/b0mk3YUoo2 pic.twitter.com/RA6Wbf01Uz
— EGRAG CRYPTO (@egragcrypto) October 30, 2023
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price for November 30, 2023
What Lies Ahead for XRP?
Considering the combined insights from these analyses, the immediate target for XRP is $0.66, in line with the bull flag pattern identified by Dark Defender. However, the key to sustaining this bullish momentum lies in staying above the $0.54-$0.55 level, reducing the risk of a pullback.
With the lawsuit against Ripple’s executives behind us, the community is looking toward November 9 and what that date will hold for the XRP community. It will be interesting to see how the outcome of that crucial date affects XRP’s price going forward.
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