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.

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.

 

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.

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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