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Cryptocurrency News Articles

Trader Makes Urgent XRP Price Prediction – ‘Nothing Will Stop’ Ripple’s Token to $3.84

Nov 24, 2024 at 01:30 am

Crypto analyst CryptoBull predicts XRP could surge to $3.84 if it maintains its position above $1.56 by Sunday's close.

Trader Makes Urgent XRP Price Prediction – ‘Nothing Will Stop’ Ripple’s Token to $3.84

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.

News source:captainaltcoin.com

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