- XRP completes its A wave correction, now aiming for $2.55 resistance as the next key target in its uptrend.
- A bullish momentum may push the token toward $3.33 after completing the A wave, with B and C waves shaping the rise.
- Holding support at $2.3502 and $2.2222 is crucial for XRP to sustain bullish momentum and reach higher targets.
The initial downward move for Ripple (XRP) has reached its completion on the 4-hour chart. Dark Defender’s predictions proved to be spot-on as the price reached the suggested targets. Following sustained downward pressure, XRP is now primed to rise back toward the area of $2.55.
The A wave has finished, and the price is ready for an uptrend. Many investors and analysts are paying close attention to $2.55 as the potential next resistance area. A successful move above the current resistance could set the stage for the currency to climb further to its intended price objectives.
XRP Targets $3.33 Resistance
Dark Defender believes that XRP may be preparing to make a substantial upward move once it finishes Price action is following a pattern based on XRP’s completion of its A wave. The following periods are likely to be dominated by the B and C waves, increasing token value to the target of $3.33. This price point is likely to be the pinnacle level of resistance in the short term. The movement of these waves will be crucial in deciding how long token can maintain its upward trend.
Source: X
The recent market behavior of XRP is positive, making analysts bullish on its prospects in the short term. It’s crucial for the token to hold the support levels at $2.3502 and $2.2222 to avoid any major price drop. If XRP manages to keep its price above the current support levels, it’s likely that the bullish momentum will continue to build.
Key Levels to Watch
Keep a close eye on the resistance at $2.58. This may limit the near-term gains for tokens near this price point. Breaking the resistance level implies that the bullish momentum is likely to persist. Attaining confirmation that the Ripple token has broken out will set the stage for a potential move toward $3.33.
XRP’s current market sentiment is optimistic, predicting that the cryptocurrency will continue moving higher. If the price holds the support levels and pushes above the resistance, the token may experience an upward move. The market’s attention is turned to completing the B and C waves, as they’ll have a major influence on XRP’s price movement over the coming days.
The analyst highlighted that cryptocurrency’s short-term price targets are at $2.55 and $3.33. Bullish momentum is expected to continue once the A wave is completed and the market remains optimistic. The price movement in the coming weeks will depend on whether the coin can overcome or break below its crucial support and resistance levels.
Read More: Ethereum on the Brink of a Major Rally: Can ETH Reach $4,201 in the Coming Weeks?