XRP’s price recently hit multiyear highs of $3.66, but technical analysis suggests there’s still room for growth. Multiple XRP charts signal a potential “explosive” move, targeting $7-$20 if key resistances are broken.
Why it matters: If the latest technical analyses are accurate, a full bull phase may still be ahead for XRP. Several charts and indicators suggest that XRP has the potential to stage a parabolic rally in the near future.
The details:
- XRP’s price has risen significantly over the last week, climbing to a new record high of $3.66 on Friday, up nearly 90% from its April lows.
- The XRP dominance chart shows XRP is back at a weekly resistance level around 5.50%. If this resistance is broken, it could trigger a major upward move for XRP dominance.
- XRP is also showing bullish signs relative to Bitcoin. The XRP/BTC parity’s strong technical setup supports the view that XRP’s best run is yet to come.
- The monthly chart shows XRP price validating a bull pennant pattern. A monthly close above the upper trendline of the pennant at $2.55 could clear the path for XRP’s rise toward the pattern’s target, potentially reaching above $18.
What they’re saying:
- “Anytime $XRP.D broke the current resistance in the past, we saw a 2x shortly after. If history repeats after a successful break, this could land us near a target of $7-$10.” – Dom, crypto analyst
- “Target of $20+ for $XRP is a given. It shall happen by the end of this cycle.” – XRPunkie, trader
The other side: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
What’s next: If the key resistances are broken and the bullish technical setups play out, XRP could potentially stage a parabolic rally in the near future, with price targets ranging from $7 to $20 or higher.