XRP Will Hit $2.13 Before A Correction – Analyst Predicts Bullish Rally
XRP is trading just below the key $2 mark, a level that serves as a local top for the 2021 bull cycle. Prices have been steadily climbing on the back of bullish momentum and appear poised to move higher. Investors and analysts are keeping a close eye on the charts, looking for clear signals that could confirm a break above this key resistance level.
Related reading
This psychological price level is the focus of market participants, and a successful breakout could signal the start of a sustained rally. Top analyst and investor Dark Defender weighs in on XRP’s prospects, sharing a detailed technical analysis of the X. According to his insights, XRP is expected to reach $2.13 in the coming days before undergoing a brief correction. Dark Defender also expects further price gains following this pullback as XRP continues to attract bullish sentiment.
Confirm breakout A break above $2 could pave the way for new multi-year highs, while failure to break through this level could lead to short-term volatility. With its historical significance and current market dynamics, the $2 mark represents both an opportunity and a challenge for XRP. Now, all eyes are on whether the coin can reclaim this milestone and chart its way higher.
XRP attracts new demand
XRP surged over 50% this week as new waves of demand continue to push its price to new supply levels. The bullish momentum has sparked intense interest from investors and analysts, with many speculating on the coin’s next move.
Top Analysts and Investors Dark Defender Shared a detailed technical analysis of X, highlighting the changing market structure of XRP on the 4-hour chart. According to his insights, XRP may hit $2.13 soon and then face a potential correction.
Dark Defender’s analysis also identified key resistance levels on the 4-hour time frame. Notably, the resistance levels of $4.11 and $6.42 are consistent with his secondary price target of $5.85 following a retest of support at $1.88. These levels indicate a roadmap for XRP price action if the current rally maintains its momentum.
As XRP approaches these key price areas, the coming weeks will be key in determining its direction. Despite the dominance of bullish sentiment, the possibility of a correction or consolidation remains. A decisive break above $2.13 could open the door to new highs, but failure to hold key levels could trigger short-term volatility.
Related reading
Currently, XRP’s impressive performance and growing demand make it one of the most talked about assets in the cryptocurrency market.
Reaching multi-year highs
Since November 5, XRP has been trading at $1.88, a gain of 285% in less than 30 days. The price recently hit the key $1.95 level and has since entered a consolidation phase as it gathers momentum above the key $2 mark. This consolidation suggests that XRP is laying the necessary foundation for a potential breakout.
Price action remains clearly bullish, supported by strong market sentiment and growing demand. Analysts are keeping a close eye on the top of the cycle at $1.97, as a break above that level could signal the start of a new leg higher. Confirmation of a move above $1.97 would not only reinforce the bullish structure but could also push XRP to unknown highs, in line with predictions of a parabolic rebound.
Related reading
However, consolidation around these levels suggests XRP faces temporary resistance. Market participants are now eyeing key support areas to ensure that the current bullish momentum remains intact. If upward pressure continues, XRP’s next target could quickly surpass historical levels, cementing its position as one of the leading assets in the cryptocurrency space. Currently, XRP remains the focus of traders and investors as it approaches the $2 threshold.
Featured image from Dall-E, chart from TradingView
