As XRP Breaks Multi-Month Resistance, Three Top Analysts Predict Next Targets

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.

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.

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.

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.

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.

Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.