Crypto analyst CryptoBull predicts XRP could surge to $3.84 if it maintains its position above $1.56 by Sunday's close.
Cryptocurrency analyst CryptoBull predicts XRP will continue surging if it maintains its position above $1.56 by Sunday’s close.
According to the analyst, nothing will stop XRP from surging to $3.84 if it closes above $1.56 on Sunday.
The analyst shared a technical analysis on X, pointing to a breakout from XRP’s multi-year consolidation phase between $0.30 and $1.00. XRP trades at $1.54, surging over 9% in 24 hours.
The digital asset continues to test the $1.56 resistance level, which acted as a rejection zone during the 2021 bull run. The token's price movement shows a clear break from its previous trading levels, supported by increased buying volume.
CryptoBull’s analysis on XRP’s price action on a logarithmic weekly chart reveals a breakout from the multi-year consolidation phase. XRP is currently approaching a crucial resistance level.
If the token manages to close above $1.56 on Sunday, it could continue surging toward the $3.84 target, which aligns with XRP's previous peak from the 2017-2018 bull market cycle.
The breakout structure suggests minimal selling pressure as XRP approaches the key resistance zone.
Moreover, the weekly chart showcases a pattern of higher highs and lows, validating the current uptrend. Large green candles on the weekly timeframe indicate strong buyer interest at elevated price levels.
The breakout from the multi-year consolidation aligns with our previous analysis, highlighting XRP's potential to reach the $3.84 target if it maintains its momentum and clears the resistance levels along the way.
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