XRP Price Analysis: Will XRP Reach $0.66 Level in the Near Future?
Last week, XRP followed the upward trend in cryptocurrencies and had a positive performance. The token reached its periodical peak of around $0.576 and managed to stay above $0.55. Data obtained from 21milyon.com revealed that the crypto asset experienced a price increase of approximately 12.7% in the last 14 days.
Well-known crypto analyst Dark Defender, who closely monitors XRP, shared a post on X to comment on the volatile price of XRP. According to the crypto analyst’s prediction, the price level of $0.66 for XRP is closer than expected. In addition, he mentioned that the crypto asset will encounter a type of support and resistance at certain price levels in his post.
Price Targets for XRP Support Levels
According to Dark Defender, the support levels are at $0.52 and $0.46. He believes that the first critical resistance level for XRP is at $0.66. A move to this level could mean that XRP is able to stay above the support level of $0.52.
In addition, the crypto analyst thinks that in the event of potential negative market conditions, a lower support level of $0.46 could act as a protective barrier.
At the time of writing, XRP was trading at around $0.55. This level indicates that it is trading above the first support level of $0.52, as determined. Maintaining above this level could be an indication of an upcoming price level of $0.66, as predicted by Defender.
The Future of XRP
According to Dark Defender, staying above the support levels will pave the way for moves to three resistance levels: $0.66, $1.88, and $5.85. His post and the included XRP price chart demonstrate how the possible price movement could occur for investors.
Considering the chart in the post, breaking above the support levels could lead XRP to reach $0.66. According to XRP investors, reaching $0.66 could propel the cryptocurrency to the next price level of $1.88 and set the stage for a possible XRP rally.
Finally, breaking the resistance level at $1.88 could herald the surpassing of XRP’s all-time high and the development of a new peak. According to Dark Defender’s calculations, the price target is $5.85. The timing of the price movement can be seen in the table. According to the shared table, these prices are expected to be reached between 2024 and 2025.