Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible
cryptocurrency analyst dark guardian It was revealed that a weekly bull flag has appeared on the XRP price chart. The analyst further explained why XRP could reach double digits in the market cycle following this development.
Weekly bull flag appears on XRP price chart
in a X posts“Dark Guardians” said every week bull flag Now appears on the XRP weekly price chart. He noted that this bull flag appeared on the daily chart earlier when XRP was trading at $0.70, as the cryptocurrency targeted the $1.88 price level and eventually rebounded to that level. In a weekly bull signal, cryptocurrency analysts predict that XRP could rise to double digits.
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The chart he attached shows that XRP price could rise to $11 once it breaks the bull flag. XRP is expected to reach this price target in early 2025 (January to March). dark guardian Market participants warned that some sideways price movements are bound to occur. However, cryptocurrency analysts expect the end goal to remain unchanged.
According to previous analysis by Dark Defender, the $11 target is unlikely to be a market top for XRP price as crypto analysts predict the cryptocurrency may rebound Up to $18 in this bull market. For now, XRP continues to trade sideways, as he warned the cryptocurrency would do. The cryptocurrency recorded a parabolic rise last month with a price increase of 281%.
However, XRP price has cooled this month as it is consolidating its next leg higher. Dark Defender previously highlighted $2.13 and $2.27 as key support levels worth watching within the XRP range. Meanwhile, analysts mentioned $3.9 and $5.5 as the next targets that XRP could reach on its next move higher.
XRP’s “Optimistic” Target
In X post, crypto analyst Ali Martinez Says $48.12 is an “optimistic” target for XRP price. At the same time, he highlighted the $8.40 price level as a conservative target for XRP. The predictions come as the cryptocurrency analyst says the cryptocurrency looks undervalued after breaking out of a massive multi-year symmetrical triangle, which he highlighted on his chart.
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Meanwhile, in another X post, he revealed that XRP price has formed three consecutive bull pennants on the 4-hour chart. Based on this, Martinez said market participants should hope Retest $2.25 So they can buy the dip, with XRP’s next upside target at $4.40. XRP’s rally to $4.40 would set a new all-time high (ATH).
As of this writing, XRP price is around $2.18, down more than 11% in the past 24 hours, according to data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
