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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

XRP Price In Motion: Analyst Reveals The Next Major Supports And Resistances

Scott Matherson
Scott Matherson
8 months ago
3 mins read
XRP Active Addresses Hits 6-Month Peak

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With the XRP price set to make its next move, crypto analyst Dark Defender has revealed the next major support and resistance levels for the crypto. The analyst also suggested that XRP’s next move could happen sooner than expected. 

Next Major Support And Resistance Levels For The XRP Price

In an X post, Dark Defender mentioned $2.42, $2.52, $2.71, and $5.85 as the next major support levels for the XRP price. Meanwhile, the crypto analyst highlighted $2.29, $2.24, $2.10, and $2.02 as the next major support levels for XRP. The analyst made these remarks while also alluding to a bull flag structure that had formed on XRP’s daily chart. 

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XRP Price 1
Source: X

Dark Defender asserted that the XRP price would make its next move by tomorrow, noting that the current bull flag had reached its limit. The crypto analyst had recently highlighted a weekly bull flag on the XRP chart, which showed that the crypto could reach double digits in this market cycle. 

In his most recent X post, Dark Defender also provided an update on his XRP/BTC pair analysis. He stated that what was expected from the XRP price was coming and suggested that it might have already begun. Before now, the analyst predicted that XRP would record “tremendous” gains against its Bitcoin pair. 

XRP Price 2
Source: X

Meanwhile, crypto analyst Ali Martinez recently highlighted a bull flag forming on the XRP price’s 4-hour chart. Based on this pattern, the analyst stated that XRP could experience a brief correction, then break out above $2.46 and rally to $4, which would mark a new all-time high (ATH) for XRP.

Two Possible Scenarios For The Third Wave

In an X post, crypto analyst CasiTrades outlined two possible scenarios for the third wave of the XRP price’s move to the upside. In the first scenario, XRP could record a typical move, extending to the 2.618 Fibonacci level. This puts the price target at $3.82, the crypto’s current ATH. 

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XRP Price 3
Source: X

Meanwhile, for the second scenario, CasiTrades stated that if this third wave doesn’t extend, the XRP price could record the extension play in the fifth wave. If the third wave doesn’t extend, the price target will be $3.23 instead of $3.82. She added that this target is near XRP’s current ATH, so the extension play might not occur. 

CaiTrades cautioned that these are just projections and that the XRP price could adjust with the actual highs. However, she is confident that a big move is coming, as XRP has consolidated with minimal movement over the last day. 

At the time of writing, the XRP price is trading at around $2.51, up over 6% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com
Price tumbles down from $2.5 | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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Ad discliamer

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