As XRP Closes Sept. with Doji Candlestick, Analyst Foresees A Rise To $5.85. Here’s the Analysis

Renowned crypto analyst and XRP enthusiast Dark Defender recently took to X to reveal a new finding on XRP price movement.

Disclosing his latest analysis on Twitter, Dark Defender shared an XRP price chart and based his explanation around XRP closing September with a doji candlestick. 

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For context, XRP rounding up September with a doji candlestick implies that the digital asset opening and closing price for September appears to be similar. In a nutshell, it depicts neutrality in the crypto market, where neither buyers nor sellers predominate. 

It is worth noting that XRP opened September at a selling cost of approximately $0.511 and ended it at a slightly higher price of $0.517, a 1.17% increase. 

Since there was an observable increment in the closing price, it implies that the doji candlestick is a positive one, Defender noted. 

The crypto analyst noted that following the positive doji candlestick outcome, he anticipates an imminent revisitation of the $0.66 price mark, adding that a break above the $0.55 resistance level would be great for XRP, as it would be sufficient enough to send XRP above the Ichimoku clouds.

Breaking Above Several XRP Price Resistance Points

XRP succeeded in surpassing the first resistance, represented by a green line on the chart shared by Dark Defender in March 2023, closing the month at the $0.5380 price level and indicating a 42% increase in that month. Meanwhile, this initial resistance has persisted since 2021. 

Judge Torres’s summary ruling in July saw XRP in the watch out to supersede another resistance level, indicated by the yellow line on the chart.

Read Also: Expert Chartist Says This Wave 3 Trend Can Send XRP Price to $12 or $50. Here’s the Timeline

It is worth noting that XRP spiked above $0.9 after Judge Torres’s verdict. The analyst noted that XRP would break above the yellow line resistance once it strikes out the $0.66 price mark. This will set the pace for the next target, which is $1.33. 

The XRP enthusiast noted that the $1.33 resistance level, indicated by the violet line, remains XRP’s primary resistance that has been mounting so much strain on XRP since 2018.  

Exceeding The Violet Line Resistance Would Pave The Way For A New XRP ATH

Dark Defender noted that once XRP breaks above the $1.33 price mark and succeeds in attaining a price high of $1.8815, it would set the pace for an unprecedented new ATH for XRP.

He remarked that he envisages $5.85 as the first target for the new ATH that would be recorded in XRP. Meanwhile, the red trendline in the analyst’s chart indicates XRP’s support level since 2020, preventing significant declines in XRP.

At the time of writing, XRP is changing hands at $0.5083 with a 24-hour trading volume of $883,468,373 and a market cap of $27,181,944,369.

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