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A crypto analyst has one XRP price chartindicating a possible break above $10 if the prominent altcoin can replicate a fractal from the past. The analyst insists XRP Community to keep a close eye on this fractal, which highlights the need to monitor price movements in the coming weeks.
XRP price eyes $16 as analyst notes bullish fractal
An XRP supporter on X (formerly Twitter) known as ‘LUDXRP’ did just that issued a detailed chart analysis, which predicts that the XRP price could rise to a ambitious price target from $16.15. The analyst mentioned the presence of a historical fractal on the XRP chart.
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The fractal patternindicated by the blue circle in the chart, highlights significant upward movement in the XRP price. If XRP follows the movements of the chart and can replicate this fractal, this could be a significant price rally towards $16.15.
There are also several green horizontal lines shown on the chart, highlighting various resistance and support zones that could trigger a reaction in the air XRP price. When XRP is trading at $2.42, the horizontal trend lines above the current price are seen as crucial resistance levels.
The analyst highlighted intermediate price levels such as $2.8, $4.1, $7.6 and $12.7 as crucial resistance levels, which XRP must surpass before reaching the ambitious target of $16.15. Furthermore, the chart identifies $2 as a potential support level, warning that if the price falls below this level, it could lead to a possible price drop to $1.
With the possibility of breaking above $16, the XRP supporter has urged community members to keep a close eye on the fractal on the price chart. He emphasized the importance of XRP to maintain an uptrend within the blue circle, which could trigger his expected price increase towards $16.
XRP will see the ‘Face Melting’ rally this Christmas
A crypto analyst identified as the ‘Charting Guy’ on X has expressed optimism about XRP’s future price prospects. According to the analyst, XRP could experience a ‘face-melting’ soar to new highs by Christmas and the end of January.
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The analyst has stated that if XRP continues to follow the bullish trends from 2017, the market will likely consolidate for another two weeks until Christmas. He revealed that this bullish projection was mainly based on the fractal of XRP rather than relying on it Fibonacci levels.
In response to one remark From a member of the crypto community, the Charting man agreed that XRP would experience a string of strong green weeks by December 30, possibly driven by the Christmas hype or bullish sentiment surrounding the RLUSD stablecoin.
The analyst also agreed that January 20, the inauguration day of Donald Trump as President of the United States (US), could mark the XRP price top, which the market would likely view as a ‘sell the news event’.
Featured image created with Dall.E, chart from Tradingview.com