CandleFocus Analyst Says XRP Explosion is Coming After Breaking This Level
2024-10-15
Author: Content Editor
Analysts are predicting a potential price explosion for XRP after the cryptocurrency breaks a crucial Fibonacci level corresponding to a resistance zone. Despite XRP's lackluster performance in the short-term, analysts believe that once it surpasses the 0.236 Fibonacci retracement level, a significant price run is likely. This optimism is based on the observation that a similar occurrence in the past led to XRP's all-time high rally in 2018. Other analysts have also pointed to significant Fibonacci levels such as 0.5, 0.618, and 0.702 as points from which XRP has historically surged. The target price of $0.80 poses a formidable resistance for XRP and would require a gain of 48.78% from its current price. However, the current market sentiment and uncertainty surrounding Bitcoin's next move may weaken XRP's ability to achieve this target.
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