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XRP is trading just below the critical $2 mark, a level that served as the local high during the 2021 bull cycle. The price has been rising steadily, supported by bullish momentum, and appears poised to move higher. Investors and analysts are watching the charts closely looking for a final signal to confirm a breakout above this crucial resistance.
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This psychological price level is a pivotal point for market participants, where a successful breakout will likely mark the beginning of a sustained rally. Leading analyst and investor Dark Defender has weighed in on the outlook for XRP, sharing a detailed technical analysis of X. According to his insight, XRP is expected to reach $2.13 in the coming days before seeing a brief correction. Dark Defender also expects further price gains following this pullback as XRP continues to attract bullish sentiment.
A confirmed break above $2 could pave the way for multi-year highs, while failure to cross this level could lead to short-term volatility. Given its historical significance and current market dynamics, the $2 mark represents both an opportunity and a challenge for XRP. All eyes are now on whether the token can reclaim the feat and chart a course higher.
XRP attracts new demand
XRP has risen more than 50% this week, benefiting from a wave of new demand that continues to push its price towards new supply levels. The bullish momentum has generated significant interest among investors and analysts, with many speculating about what’s next for the token.
Best Analysts and Investors Dark Defender She shared a detailed technical analysis of X, highlighting the evolving market structure of XRP on the 4-hour chart. According to his view, XRP is likely to reach $2.13 soon before facing a possible correction.
Dark Defender analysis also identifies key resistance levels on the 4-hour time frame. Notably, resistance at $4.11 and $6.42 is in line with a secondary target price of $5.85, which follows a retest of support at $1.88. These levels indicate a roadmap for XRP price movement if the current rally continues its momentum.
As XRP approaches these critical price zones, the coming weeks will be pivotal in determining its path. While bullish sentiment dominates, the possibility of a correction or consolidation remains. A decisive break above $2.13 could open the door to new highs, but failure to hold key levels could lead to short-term volatility.
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Currently, XRP’s impressive performance and emerging demand position it as one of the most closely watched assets in the cryptocurrency market.
Reaching multi-year highs
XRP is currently trading at $1.88 after an impressive rally since November 5, representing a staggering 285% increase in less than 30 days. The price recently reached $1.95, a critical level, and has since entered a consolidation phase as it gathers momentum to surpass the pivotal $2 mark. This consolidation indicates that XRP is building fuel for a potential breakout.
Price action remains decisively bullish, supported by strong market sentiment and increasing demand. Analysts are closely monitoring the cycle top at $1.97, as a break above this level would likely signal the start of a new bullish wave. A confirmed breakout beyond $1.97 would not only reinforce the bullish structure, but could also push XRP to uncharted highs, in line with expectations of a parabolic rally.
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However, holding near these levels indicates that XRP is facing temporary resistance. Market participants are now looking to key support areas to ensure the current bullish momentum remains intact. If the bullish pressure continues, XRP’s next targets could quickly exceed historical levels, cementing its position as one of the leading crypto assets. Currently, XRP remains a focal point for traders and investors as it approaches the $2 threshold.
Featured image by Dall-E, chart from TradingView
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