Fun

XRP Price Forms Descending Triangle On The Daily Chart, Why $1.95 Is Important

News Feed - 2025-01-01 02:01:12

Este artículo también está disponible en español.


Crypto analyst Dark Defenderhas revealed a pattern in which the XRP price has formed on the daily chart. In his analysis, he highlighted the $1.95 price level as being crucial as it could determine XRP’s next move.  XRP Price Forms Descending Triangle On The Daily Chart


In an X post, Dark Defender mentioned that the XRP price has formed a descending triangleon the daily time frame. He added that a breakout is imminent in this pattern as long as $1.95 is protected.  The analyst highlighted $2.22, $2.72, $2.90, and $5.85 as the initial targets XRP could reach if the price breakout occurs. 


Related Reading: Ethereum Price Guns For A Mid-High Timeframe Reversal Against Bitcoin In Bullish Q1 2025 Source: X


Meanwhile, the crucial support levels for the XRP price are $1.95, $1.88, and $1.63. Based on an earlier analysis by Dark Defender, XRP could still rally to double digits in the long term. The analyst highlighted a bull flag that had formed on the daily chart, noting that it was similar to the one that had earlier formedon the 4-hour timeframe. 


Dark Defender stated that the bull flag that formed on the daily chart targets the Fibonacci Levelof $5.85 and penetrates toward $10.1979. The crypto analyst remarked that this is a historical pattern approach and the Fibonacci Wave. He added that the last Fibonacci targets stand at $18.22 and $36, with no significant targets in between.  Source: X


The analyst’s accompanying chart showed that the XRP price could reach these targets in the first half of 2025. While analyzing XRP’s yearly chart, Dark Defenderstated that a God Candle awaits next year. This came as he noted that XRP had enjoyed a breakout year in 2024, having consolidated for around six years. XRP boasts a year-to-date (YTD) gain of over 228%.  From An RSI Perspective


Crypto analyst Egrag Cryptoprovided insights into the XRP price action from a Relative Strength Index (RSI) perspective. The analyst stated that 74, 70, and 65 are the three key RSI levels to watch out for. In the most bullish scenario, he remarked that XRP needs to ideally reach 88 or even 96.5 and higher for the RSI curvature to continue trending upward.  Related Reading Legendary Analyst Peter Brandt Says Bitcoin Price Could Crash To $78,000, Here’s Why 1 day ago Source: X


Egrag Crypto said it would be “incredibly” bullish if the XRP price bounces from the 74 range. Meanwhile, a dip to 70 could indicate bearish momentum. However, he added that a bounce from this RSI level is essential for continuing the bull run. 


Likewise, a dip to 65 is also bearish for XRP, but as long as the crypto doesn’t drop below this level, then a bounce would indicate a significant move ahead. The crypto analyst warned that closing below the 65 RSI level could signal the end of the bull run. 


At the time of writing, the XRP price is trading at around $2, down over 3% in the last 24 hours, according to datafrom CoinMarketCap.  Price remains above $2 | Source: XRPUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com

News Feed

Crypto FOMO: Australia’s Largest Bank Sees ‘Bigger Risks in Not Participating’ in Crypto
Crypto FOMO: Australia"s Largest Bank Sees "Bigger Risks in Not Participating" in Crypto The CEO of Commonwealth Bank of Australia (CBA), the country’s largest bank, sees bi
Kevin O’Leary on SEC v Ripple Lawsuit Over XRP: ‘I Have Zero Interest in Investing in Litigation Against SEC’
Kevin O"Leary on SEC v Ripple Lawsuit Over XRP: "I Have Zero Interest in Investing in Litigation Against SEC" Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he has z
China’s Crypto Could Become a Global Reserve Currency: Circle CEO
Leading fin-tech entrepreneur thinks China"s state-backed cryptocurrency could spearhead global adoption of the yuan as a reserve asset. | Image: ShutterstockCircle CEO Jeremy Allai
Crypto Hedge Funds Defraud $100 Million From Investors, Founder Faces 20 Years in Prison
Crypto Hedge Funds Defraud $100 Million From Investors, Founder Faces 20 Years in Prison The founder of two cryptocurrency hedge funds has been charged in U.S. f
Bitcoin traders flag ‘inflection point’ in key futures market metric as BTC breaks range
Nancy Lubale1 hour agoBitcoin traders flag ‘inflection point’ in key futures market metric as BTC breaks rangeCrypto traders say Bitcoin is at an “inflection point” after BTC’s open interest rises and the crypt
Elon Musk Hints Tesla Owns About 42K Bitcoins
Elon Musk Hints Tesla Owns About 42K Bitcoins Tesla CEO Elon Musk has hinted how many bitcoins Tesla owns after revealing that the fair market value of its bitco
XRP price breaks 3.5-year downtrend as analyst predicts $200
Biraajmaan Tamuly10 hours agoXRP price breaks 3.5-year downtrend as analyst predicts $200XRP"s gains of 36.83% this quarter is its highest quarterly rise since Q1 2023.10063 Total views20 Total sharesListen to article 0:
Shiba Inu Soars Knocking Dogecoin Down a Notch — 20 Holders Own 75% of the SHIB Supply
Shiba Inu Soars Knocking Dogecoin Down a Notch — 20 Holders Own 75% of the SHIB Supply The meme-based digital asset shiba inu has entered the top ten largest crypto assets by mar
Pundit Warns Bitcoin Is Setting Up Liquidity Traps As It Campaigns For New ATHs
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 pu
Market makers sold over $300M Ether as ETH price crashed below $2,200
Zoltan Vardai10 hours agoMarket makers sold over $300M Ether as ETH price crashed below $2,200Ether’s price fell from above $3,000 to $2,100 due to selling pressure from a select group of market makers.4202 Total views
US Government Prediction: Economy Faces 10-Year Recovery, $8 Trillion Loss From Coronavirus
US Government Prediction: Economy Faces 10-Year Recovery, $8 Trillion Loss From CoronavirusThe U.S. Congressional Budget Office has projected that the coronavirus crisis will cost t
The Fed Could Take 10 Years to Get Inflation Under Control, Says Almonty Industries CEO
The Fed Could Take 10 Years to Get Inflation Under Control, Says Almonty Industries CEO The CEO of Almonty Industries has warned that it could take the Federal Reserve 10 years to