Expert Reveals 2 Entry Points for XRP, Predicts Price Surge to $10

XRP's potential for a price surge is visible and could happen soon amid the broader market's downturn. With precise technical analysis, analyst Ali Charts has shared key entry levels and a bullish target.

XRP's potential for a price surge is in plain sight and could occur soon amid the broader market downturn. A renowned technical analyst has shared key entry levels and a bullish target for the cryptocurrency.

renowned technical analyst Ali Charts shared his XRP analysis on Twitter. The expert’s insights focus on XRP’s consolidation phase, critical price zones, and projected targets.

Ali believes XRP could hit $10, presenting an opportunity for traders to strategize their positions effectively.

According to Ali’s chart, XRP is forming a classic pennant pattern. This technical structure usually signals a continuation of the prevailing trend. The pennant pattern comprises converging trendlines that depict declining volatility.

Ali's analysis suggests XRP is poised to break out of this consolidation phase, setting the stage for a strong upward move. The rising trendline, connecting higher lows, serves as a support level during this consolidation.

The declining trendline, which links lower highs, indicates resistance. Ali highlights that the convergence of these lines points to a potential breakout, which traders should monitor closely.

Two Key Entry Points HighlightedAli Charts identified two critical entry points for traders seeking to capitalize on XRP's bullish momentum. The first level is $2.05, aligning with the pennant's rising trendline. This entry point offers a lower-risk position within the consolidation phase.

The second entry level is $2.50, marking the breakout point outside the pennant. A confirmed breakout above this price signals a strong bullish move, according to Ali. Traders can select their entry level based on their risk tolerance and confirmation preferences.

XRP Targeting a $10 Price LevelAli Charts' analysis projects a target of $10 for XRP. This target is derived from the pennant's flagpole height, which measures the prior rally's strength. The projection also aligns with key Fibonacci levels, further validating the $10 target.

suggest additional resistance levels at $4.73, $6.09, $8.76, and $11.82. These levels provide milestones for XRP as it climbs toward its ambitious target.

At press time, XRP trades at $2.30, down 2.17% over the past 24 hours, according to CoinGecko. Despite the recent price decline, Ali Charts maintains confidence in XRP's bullish outlook, emphasizing the importance of strategic entry points for potential gains.