XRP has experienced a resurgence in the cryptocurrency market. It has reclaimed the $1 mark after three years and peaked at $1.93 on November 30.
Although it has retraced slightly, now consolidating around $1.46, experts remain optimistic about the asset’s future trajectory. Notably, many suggest that a rise to $2 is imminent, with some projecting long-term targets as high as $20.
Analysts Point to $1.60 as Key for XRP’s Path to $2
Angel investor and crypto analyst Armando Pantoja has shared an optimistic outlook for XRP. In his recent analysis, Pantoja emphasized the asset’s sustained upward momentum throughout November. XRP’s performance this month has been remarkable, recording an over 200% surge as it climbed from under $0.50 to over $1.60.
According to Pantoja, the market exhibits strong technical indicators that support further growth. He noted significant whale activity and improving sentiment as foundational drivers of the current rally.
Despite these gains, he observed that XRP’s Moving Average Convergence Divergence (MACD) indicator stabilizes rather than overheating. Similarly, the Relative Strength Index (RSI) has not yet entered overbought territory. These conditions, he argued, suggest the rally is poised to continue sustainably.
Pantoja highlighted the $1.60 price level as a critical hurdle. He stated that breaking this resistance could lead to minimal opposition toward $2, further fueled by potential FOMO from traders. Additionally, he identified $8 to $20 as plausible long-term targets based on XRP’s historical performance and projected market trends.
$XRP to $2 isn’t even a question. $8-20 is inevitable
1. Bullish patterns = long-term setup
2. Whales accumulating hard
3. MACD cooling off + RSI neutral
4. $1.60, then no resistance to $2
5. FOMO incoming, Sentiment flippingMiss this #XRPHOLDERS, and you'll chase it later. pic.twitter.com/HCvoyiwWX9
— Armando Pantoja (@_TallGuyTycoon) November 27, 2024
Key Resistance Levels: $1.63, $1.88, and $1.96
Dark Defender also outlined short-term resistance levels for XRP. His review of a 4-hour XRP chart identified the Fibonacci level at $1.44 as an essential support, which the asset has successfully retained. He argued that this stability positions XRP for a continued rise toward $1.63, the next major resistance level.
Dark Defender also highlighted potential resistance at $1.88 and $1.96. He noted that XRP benefits from strong support within the Ichimoku cloud, which enhances the likelihood of further gains.
He suggested that a sustained movement above $1.44, could act as a springboard for an extended rally. He added that breaking the $1.96 barrier could trigger a significant price surge, a scenario echoed by veteran trader Peter Brandt, who anticipates a sharp rally if this level is surpassed.
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Symmetrical Triangle Pattern On XRP Chart
Meanwhile, analyst Mikybull has identified a symmetrical triangle pattern on XRP’s 4-hour chart, signaling consolidation. According to his analysis, a similar pattern appeared earlier this month after XRP crossed $1, leading to five days of sideways movement before rallying to $1.63.
Mikkybull suggested that the current triangle pattern, which formed after XRP retraced from its recent high, could precede another breakout. He anticipates that a successful breakout would position XRP to target the $2 range.
A Bullish Consensus Emerges
The consensus among analysts is clear: maintaining support at $1.44 and overcoming resistance at $1.63 will be critical for XRP’s continued ascent. These technical levels are widely viewed as potential catalysts for the asset’s next phase of growth, with a $2 price target firmly within reach. As the cryptocurrency market continues to evolve, XRP’s ability to sustain its rally will depend on technical and market-driven factors.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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