CandleFocus Top Chartist Identifies XRP Major Hurdle in Channel B, Projects Long-Term Target of $27 if Resistance is Broken
2024-10-19
Author: Content Editor
Market analyst EGRAG has identified multiple resistance levels that XRP needs to break in order to rally to higher prices. The main resistance level is Channel B, which XRP has struggled to surpass for years. The first immediate resistance level is at $0.6450, and if XRP breaks through this, it will face a more challenging test at $0.85. If XRP can break above $0.85, it could reach $1.10, which is the upper boundary of Channel B and seen as the final major roadblock before a potential bullish cycle. If $1.10 is broken, targets of $7.57, $13.90, and ultimately $27.88 are possible. The immediate support for XRP is at $0.48. As long as XRP remains above this support and within Channel B, the possibility of a breakout remains. Currently, XRP is trading at $0.547.
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