Analyst Says XRP Will Make Extraordinary Moves Above $0.6049, Here’s The Target

Despite
witnessing


price
declines,
a
crypto
analyst
has
predicted
that


XRP
is
set
to
break
through

critical
resistance
to
new
highs.
The
analyst
has
highlighted
several
technical
indicators
that
signal
a
potential
trend
shift
for
XRP.  

XRP
Set
To
Witness
Bullish
Rally

In
a
recent
X
(formerly
Twitter)
post,
a
crypto
analyst
identified
as
‘Dark
Defender’


shed
light

on
XRP’s
price
movements,
unveiling
a
combination
of
technical
indicators
that
suggest
an


imminent
bull
rally

for
the
cryptocurrency. 

Basing
his
analysis
on
the
Heikin
Ashi
Candles
and
the
Fisher
Indicator,
Dark
Defender,
explained
that
the
connection
between
these
two
technical
indicators
often
signals
a
trend
shift
on
a
weekly
time
frame.
He
further
clarified
that
by
combining
the
Heikin
Ashi
Candles
and
the
Fisher
Indicator,
it
is
easier
to
identify
trends
by
examining
highs
and
lows
as
well
as
opening
and
closing
prices
in
a
given
time
frame. 

In
making
his
prediction
for
XRP,
the
analyst
shared
a
price
chart
depicting


XRP’s
price

movements
from
2023
to
the
end
of
2024.
He
revealed
a


critical
support
zone

between
$0.6044
and
$0.6649,
which
XRP
will
have
to
break
through
to
experience
a
price
surge. 

In
his
chart
the
analyst
revealed
a


price
target

of
$1.8816
between
July
and
September,
emphasizing
that
the
cryptocurrency
would
have
to
skyrocket
by
161.8%
to
reach
this
price.
The
analyst
believes
that
XRP
is
on
track
to
make
“extraordinary
moves
above
$0.6049.”

For
this
to
happen,
Dark
Defender
has
stated
that


XRP

will
also
have
to
close
its
weekly
candle
above
$0.6649.
He
revealed
another
major
technical
indicator,
the
Ichimoku
Clouds,
highlighting
that
this
indicator
substantiates
the
critical
Fibonacci
levels
that
fall
between
the
aforementioned
critical
support
zones.

Interestingly
a
dark
red
trend
resistance
line
which
can
be
seen
on
the
price
chart
intersects
between
the


Ichimoku
Clouds

and
the
Fibonacci
levels.
This
intersection
indicates
that
XRP
is
set
to


overcome
major
resistance,
leading
to
a
potentially
stronger
bullish
trend
that
could
propel
the
cryptocurrency
towards
the
upper
Fibonacci
levels. 

Dark
Defender
disclosed
that
XRP
has
already
experienced
its
first
weekly
break
last
week
and
is
expected
to
continue
towards
the
most
challenging
areas.
He
declares
that
XRP
is
currently
in
“Grand
Wave
3,”
a
phase
of
the


Elliot
wave
theory

often
characterized
by
powerful
and
sustained
upward
movements. 

Analyst
Predicts
Explosive
Growth
For
XRP
By
Year-End

Another
crypto
analyst,
identified
as
‘JT’
on
X,
has


highlighted

a
pivotal
moment
in
XRP,
predicting
that
the
cryptocurrency
was
set
for
an


explosive
momentum

before
November
2024.

The
analyst
revealed
a
massive
triangular
formation
in
XRP’s
price
chart,
emphasizing
that
it
was
the
longest-running
triangle
in
the
crypto
market. 

According
to
JT,
XRP’s
running
triangle
is
set
to
reach
an
apex
in
November,
suggesting
a
potential
breakout
for
the
cryptocurrency.
He
reveals
that
if
the
Moving
Average
Convergence
Divergence
(MACD)
can
“turn
up,”
then
XRP
is
likely
to


witness
a
bullish
rally. 

It’s
important
to
note
that
most
forecasts
are
based
on
speculations
but
can
provide
valuable
insights
into
a
cryptocurrency’s
price
movements.
At
the
time
of
writing,
the
price
of
XRP
is
trading
at
$0.528,
reflecting
a
1.28%


decline

over
the
past
24
hours,
according
to
CoinMarketCap.

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com