Crypto Analyst Predicts Multiple God Candles For XRP, How High Can It Go?
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A crypto analyst remains highly optimistic about XRP Ledger’s native token,
XRP
, predicting the appearance of multiple
God candles
that could potentially propel the cryptocurrency into a strong bullish rally.
Breaking Resistance Could Trigger God Candles
In an X (formerly Twitter)
on June 14, a crypto analyst identified as ‘Dark Defender’ provided a detailed interpretation of technical indicators and resistance levels that could signal a
. The analyst revealed that XRP has experienced a highly
bullish reversal
for the Fisher Indicator on the weekly chart.
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The Fisher Indicator is a versatile technical tool used to pinpoint trend reversals and highlight when prices have moved to the extreme. Based on this technical indicator, Dark Defender has revealed that the altcoin has broken through an initial
price resistance
at $0.04623, indicating strength and momentum in the cryptocurrency’s price movement.
Sharing a price chart depicting XRP’s movements, the crypto analyst unveiled that the
altcoin’s price
is currently testing the interim Fibonacci levels at $0.5286. He expressed bullish optimism about XRP closing above the week’s candle around the $0.53 price mark.
Source: X
Dark Defender also highlighted the next significant resistance level for XRP’s price. The analyst expects XRP to test secondary mid-level resistance points at $0.6044, as breaking this level would be a positive signal for a higher
upward momentum for XRP
.
Interestingly, Dark Defender expects XRP to trigger God candles if it successfully breaks all the aforementioned resistance levels. He highlighted another key support level at $0.6649, labeling it the master fundamental level. The crypto analyst disclosed that it was crucial to not underestimate this level, signaling the potential for
strong bullish surge in XRP
if it surpasses this key threshold.
The analyst has
predicted multiple God candles
that indicate sharp price increases for XRP, possibly opening up a path to “Heaven’s Stairway.”
Update On XRP Price Analysis
Amidst recent
with the United States Securities and Exchange Commission (SEC) and broader market downtrend, XRP has been displaying strong bullish signals and healthy price fundamentals. At some point this year, the cryptocurrency
plummeted below the $0.5 price mark
, experiencing unexpected price declines.
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However, recently, the altcoin has been on a roll, recording multiple bullish surges that have pushed its price to its current value of $0.538. According to data from CoinMarketCap, XRP has soared by almost 30% over the past week and risen by another 1.41% in the last 24 hours.
The cryptocurrency has been
performing relatively well
despite market volatility. Its recent gains have also positioned it at a critical point where its price could potentially surge above the $0.6 threshold. Additionally, with the
nearing conclusion and a settlement on the horizon, XRP is poised to overcome bearish sentiment fueled by regulatory concerns.
Token price makes its way toward $0.6 | Source:
Featured image created with Dall.E, chart from Tradingview.com
