Expert Concedes Neglecting XRP in the Past But is Currently Intriguing by the XRP Chart
In a recent post, Melker analyzed XRP’s pattern on the weekly timeframe and shared a graph indicating that XRP is poised to break through a significant resistance channel. Despite anticipating a potential rejection, Melker highlighted an imminent breakout on the horizon. He emphasized that regardless of one’s stance on XRP, the forthcoming price action is significant and deserves attention.
Expert XRP Charts
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This analysis coincides with XRP’s outperformance in the bearish market, with a notable surge of over 10% on Wednesday, briefly making it the best-performing cryptocurrency among the top 100. This recent surge has reignited interest in XRP, even among analysts such as Melker and Ali Martinez, who typically do not frequently comment on XRP’s price movements.
Melker identified critical resistance levels that XRP must overcome to achieve higher prices, including $0.75 and $0.93, with further barriers at $1.3 and $1.9 en route to $1.
Notably, analyst “Crypto Adict” also stressed the significance of the $0.75 level, cautioning against overly ambitious targets like $100 in light of more immediate challenges. The resistance at $0.75 had a noticeable impact in March when XRP briefly rallied to $0.744 but failed to sustain its upward momentum.
Ali Martinez echoed Melker’s views by underscoring the $0.93 price level as a crucial obstacle. Martinez emphasized that surmounting this level would mark the end of XRP’s nearly seven-year downtrend and potentially open the door to higher highs.
As of the latest update, XRP is trading just above $0.60 after briefly reaching $0.6556 yesterday, reflecting an 8% decline in the past 24 hours. XRP’s upward trajectory was interrupted by Bitcoin’s volatility, with the leading cryptocurrency retreating to the $63K range yesterday.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
