Analyst Expects $4.40 XRP Price to Come In Haste. Here’s why
Main Idea
A crypto analyst predicts that XRP could reach $4.40 quickly if it breaks key resistance levels, based on technical analysis involving Fibonacci retracement levels.
Key Points
1. Analyst ChartNerd identifies a 0.618 Fibonacci resistance level at approximately $3.2714 as a key hurdle for XRP.
2. Breaking the $3.27 resistance and a local high near $3.60 could confirm bullish momentum, leading to a target of $4.40.
3. The chart shows higher Fibonacci-based targets, including a 1.0 level near $3.6652 and a 1.618 extension level near $4.4051.
4. The analyst emphasizes that clearing the 0.618 Fibonacci level is necessary for the bullish scenario to be valid.
5. The prediction is conditional and based on technical prerequisites, with no guarantees of the outcome.
Description
Crypto analyst ChartNerd posted a technical update on XRP accompanied by an annotated price chart and a brief statement. In the tweet, ChartNerd wrote, “If $XRP can take out $3.27 and the local high of $3.60 on this impulse, I expect $4.40 to come with haste. The 0.618 FIB resistance must be cleared.” The chart attached to the post displays an annotated price structure that the analyst interprets as an impulsive run followed by an ABC correction and a potential bullish continuation. The analyst ...
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