- XRP’s 6,800% rally target at $168 aligns with Fibonacci extensions, with $3.40 from 2018 reinforcing bullish levels, per Javon.
- Egrag Crypto notes XRP’s breakout above Fib Channel 0.236 at $0.75, suggesting potential moves toward higher Fibonacci levels.
- Short-term resistance at $2.70 and support at $2.33-$2.24 suggest consolidation, with mixed signals from Bollinger Bands and MACD.
According to analyst Javon, XRP’s last bull cycle achieved a massive 600x surge, pushing prices above the 2.414 Fibonacci Extension at $3.06. He projects a potential 6,800% rally in this cycle, estimating a target near $168.
Complementing this view, Egrag Crypto emphasized Fibonacci channels and key price levels across multiple timeframes, indicating critical targets and patterns shaping XRP’s bullish momentum.
Historical Trends and Fibonacci Levels
Analyst Javon pointed out XRP’s historical alignment with Fibonacci levels. The 1.618 level acted as resistance, while the 2.272 and 2.414 extensions define potential bullish targets.
Notably, the current price action reflects strength, with XRP surpassing the 1.00 level ($0.80-$0.90) and maintaining its upward trajectory. Historical price actions, like the 2018 peak at $3.40, reinforce Fibonacci levels’ reliability in forecasting critical zones.
Furthermore, a long-term ascending support trendline from 2014 and a breakout from a descending trendline (2018-2020) add to the bullish signals. These patterns, along with key resistance points, suggest XRP’s strong bullish setup, provided the $0.80-$0.90 support holds.
XRP on Different Timeframes
Egrag Crypto highlighted XRP’s movements across monthly, weekly, and daily timeframes. On the monthly, he noted XRP’s breakthrough of the Fib Channel 0.236 at $0.75, a bullish expansion. He suggested a close above this level could open ways toward Fib Channel 0.382, targeting higher levels.
On the weekly, Egrag highlighted two scenarios: a close above $2.60 could lead to an all-time high (ATH) rally, while a close below $2.44 might signal a pullback to $2.05. Meanwhile, the 3-day timeframe shows a bullish ascending triangle pattern, with a breakout potentially pushing XRP to $3.28 by late December.
On a daily basis XRP shows mixed signals, forming a symmetrical triangle with a 50/50 breakout chance. A bullish breakout could target $5, aligning with Fib Channel 0.382, while a bearish move might test support at $1.17.
Short-Term Signals
At press time, XRP was trading at $2.35, down by 5.73% in the past 24 hours but up by 115.57% in the past month. Shorter timeframes show resistance at $2.70 and crucial supports at $2.33 and $2.24.
Bollinger Bands are showing consolidation, with resistance near $2.72 and support around $2.27. While the MACD indicates bearish momentum, narrowing histograms hint at potential recovery. As XRP tests these levels, Javon and Egrag Crypto’s insights provide key levels to monitor.
