Ripple (XRP) has been showing a solid bullish trend over recent days, with consecutive increases drawing enhanced attention from traders. The next level of resistance is expected to also grab attention and, hence, could yield an increase further towards the upside.
On February 12th, Dark Defender, one of the renowned crypto analysts, reported that the asset had secured a sustainable momentum value over a 4-hour timeframe and had pointed to a bullish theme on the charts. The analyst has also pointed out the price levels that could confirm the bullish sentiment if breached. The target of Dark Defender for Ripple (XRP) in the near term lies at the level of $0.60.
Technically, on the charts, the resistance levels have been marked out very precisely, with the major emphasis falling on $0.6649. Historically, it has been the level where Ripple (XRP) has met a cutoff from any further price action to the upside. According to analysts, if this level is finally conquered, the strong signal which emanates is quite clearly bullish.
Ripple (XRP) Hits Targets, Eyes $0.60-$0.66 Range
Dark Defender reiterated his earlier analysis that Wave 5 for XRP has completed the 1st target. In his opinion, Wave 3 in a 4-hour timeframe could go for an extension upwards into the range of $0.60-$0.66. The analyst also alluded to the importance of hitting that $0.6649 level as starting the shot for XRP enthusiasts.
Furthermore, Dark Defender specifies the correctness of the previous forecast concerning the fact that XRP has touched the level of $0.5591 and just within the period he predicted. This reaffirms the analysts’ confidence in their technical analysis.
The current price of XRP stands at $0.550244, accompanied by a 24-hour trading volume totaling $2.46 billion and a market dominance of 1.53%. Over the past day, the price of XRP has experienced a rise of 2.96%.
Meanwhile, XRP continues to exhibit bullish momentum, and traders are advised to remain vigilant and monitor key resistance levels for potential breakout opportunities. Dark Defender hints at the possibility of further analysis to provide a broader outlook on XRP’s price movements.