XRP price keeps getting stronger. The price is surpassing the $1.0 mark with a bigger gap. Some analysts believe that this is only the beginning, as the price is expected to go higher.
Armando Pantoja on X notes that XRP is currently moving past a crucial resistance and is targeting the 0.786 Fibonacci retracement level at $1.61. If this level is surpassed, the next price range to watch is between $2 and $2.10, which has not been seen since April 2021.
Ripple (XRP) Price Analysis
The chart analysis posted by Armando reveals an ascending triangle pattern. This shows a bullish continuation. XRP is currently trading at around $1.50, comfortably above key support levels at $1.192 and $1.108.
The Fibonacci retracement levels reveal that the 0.618 level at approximately $0.91 provided strong support during earlier consolidations, while the 0.702 level at $1.21 was breached during upward movement.
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Should XRP price successfully clear the $1.61 resistance, it could easily target the $2-$2.10 range, which is historically significant. Beyond this point, Armando sees an easy path toward $8, a long-term target driven by potential macroeconomic factors or regulatory developments that could favor Ripple.
The bullish momentum indicated by the breakout from the ascending triangle, along with a series of higher lows and increasing volume, supports the view that XRP might be on the cusp of a substantial rally.
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