XRP acts in a tight consolidation phase and forms what analysts call a roll -up pattern. This pattern often precedes a strong outbreak. Caleb Franzen, founder of Cubic Analytics, said On Thinking Crypto-Podcast That XRP has produced higher highlights in recent months, but the price has fallen since then, allowing the market to reset for a possible next increase.
The technical analysis of Franzen points to important Fibonacci expansion levels. His objectives for the short term are around $ 4.40 and $ 6.00, while the wider structure of the highs and lows in the first quarter suggests potential levels around $ 5.40 and $ 11.55.
Support and resistance levels
- Critical support: $ 2.68
- Immediate objectives: $ 4.40 and $ 6.00
- Long -term range: $ 5.40 to $ 11.55
As long as XRP remains above $ 2.68, the bullish structure remains intact. A decrease to below that level would be a signal of weakness and could lead to the cropping of positions or adjusting exposure. By staying above support, the path remains open for higher goals.
Technical structure and market discipline
Franzen bases his analysis purely on price movements. He believes that the market structure offers the most reliable signal for both risk management and opportunities. The economy remains strong and flexible, even though it is not perfect.
The growth in important areas continues to support the rise in risky assets. The real GDP grew by 3.8% in the second quarter and is expected to reach 3.9% in the third quarter. Unemployment among people aged 25 to 54 is 3.8%, almost a record layer, and the labor participation improves.
Industrial production and retail sales both increase, while wages increase by around 4.1% year after year. These trends create a healthy climate in which the prices of assets can continue to rise. He added that even the government’s closure did not harm the markets, but perhaps helped.
Conclusion
XRP remains within its middle class structure. If the token retains support above $ 2.68, it can rise in the coming weeks towards $ 4.40 and $ 6.00. A persistent outbreak above these levels would open the door for a movement towards $ 11.55, which would mark a new high point in the next bullish phase.
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