- XRP’s MACD crossover and rising RSI suggest a sustainable bullish momentum is forming.
- Fibonacci levels mark key resistance at $5.30, with potential upside toward $13.72.
- Bollinger Band expansion mirrors 2017 and 2020 setups that led to major XRP price rallies.
On the weekly chart, XRP has displayed indications of a possible breakout supported by several technical indicators. Currently, the cryptocurrency is supported by a robust chart structure, growing market momentum, and a clear MACD crossover. According to market analysts, XRP may move toward higher targets between $8 and $11 in the upcoming months if it confirms a close above the $5 level.
There may be more upward movement because the Relative Strength Index (RSI) is still below overbought territory. In the meantime, following a protracted period of consolidation, XRP’s current price action is developing within a breakout pattern. Similar setups have historically produced powerful price rallies in prior cycles, according to historical patterns.
The Fibonacci Zones indicate the direction forward, which the XRP charts demonstrate with a flash bullish signal.
Market analyst Bobby A observed that following a year-long contraction, XRP’s Bollinger Bands have started to widen. Major bull runs were preceded by similar expansions in 2017 and 2020. Additionally, the RSI, Stochastic RSI, and MACD are showing well-known patterns that predate XRP’s prior spikes to $3.31 in 2018 and $1.96 in 2021.
Throughout the present technical setup, all three momentum oscillators are in line. The analysis shows that there are only three precedents of such unusual meetings, none of which were followed by significant price surges. Increasing volumes of trading, which usually means that people expressed their interest in crypto, and whether the tendency may remain stable over time, helped XRP to jump in price by this time to the level of $0.97.
Also, the Fibonacci retracement levels can be used to determine potential future zones of resistance. With additional anticipated targets at $5.30, $8.52, $11.73, and $13.72, important levels include $1.34 and $1.72. Depending on the current market structure, these levels correlate to extensions.
Prospects as XRP Continues to Rise
Growing investor interest is indicated by the price and momentum of XRP’s recent recovery. A favorable technical environment is highlighted by the combination of chart structure, historical fractals, and rising volume. The $5 threshold is still being watched by analysts as a crucial level that could impact the strength and length of the current move.
There is a possibility that the altcoin may enter into another period of bulls similar to the one that was witnessed in the previous cycles, so long as XRP moves in its current direction and executes a break. Next few weeks, traders will be keen to know how the technical levels are able to drive the movement of the price.
