With the XRP price set to make its next move, crypto analyst Dark Guardian has revealed the next major support and resistance levels for the crypto. The analysis also suggested that XRP's next move could happen sooner than expected.
The next support and resistance levels for XRP price
In the X postDark Defender mentioned $2.42, $2.52, $2.71, and $5.85 as the next major support levels for XRP price. Meanwhile, the crypto analyst identified $2.29, $2.24, $2.10, and $2.02 as the next major support levels for XRP. The analyst made these comments while also referring to a bullish flag structure that had formed on the XRP daily chart.
Related Reading
Dark Defender said that the price of XRP would make its next move by tomorrow, noting that the the current bull flag he had reached his limit. Recently the crypto analyst pointed out a weekly bull flag on the XRP chart, which showed that the crypto could reach double digits in this market cycle.
In his latest X post, Dark Defender also provided an update on his XRP/BTC pair analysis. He said that the expectations from the price of XRP were coming and suggested that it might have already started. Previously, the analyst expected XRP to register “tremendous” gains against its Bitcoin counterpart.
At the same time, a crypto analyst Ali Martinez recently indicated a bullish flag forming on the 4-hour chart of XRP price. Based on this pattern, the analyst said that XRP could experience a short correction, then break out above $2.46 and rally to $4, which would mark a new all-time high (ATH) for XRP .
Two possible perspectives for the third wave
In post X, crypto analyst Casi Trading explained two possible scenarios for the third wave of XRP price movement to the upside. In the first scenario, XRP could register a normal trend, extending to the 2.618 Fibonacci level. This puts the price target at $3.82, the crypto's current NEXT.
Related Reading
At the same time, for the second scenario, CasiTrades said that if this third wave does not extend, the price of XRP could register the extension play in the fifth wave. If the third wave does not extend, the price target will be $3.23 instead of $3.82. She said that this target is close to XRP's current ATH, so the extension play may not happen.
CaiTrades cautioned that these are just projections and that the price of XRP may change with the extremes. However, she is confident that a big move is coming, because XRP has strengthened with little movement over the last day.
At the time of writing, the price of XRP is trading at around $2.51, up more than 6% in the past 24 hours, according to data from CoinMarketCap.
Featured image created by Dall.E, chart from Tradingview.com
Source link
