Analyst Identifies the Only 3 Resistance Levels Stopping an XRP Uptrend
thecryptobasic.com 24 September 2024 11:09, UTC With bullish momentum swelling around the XRP market, crypto analyst Mr. Xoom has stated what he believes are the only three resistance levels hindering an uptrend.
In a tweet on Monday, Xoom insinuated that XRP needs to topple a few more levels to reach new highs. He stressed that there were just three major resistance levels that XRP needed to break to reach a new all-time high.
Xoom Points to Major Resistance Levels
According to Xoom, XRP’s major antagonistic levels were $0.65, $1.6, and its all-time high at $3.35. A sustained break above any of these levels could easily see XRP’s price surge to new levels.
However, Xoom argued that the aforementioned resistance levels were notable roadblocks, implying there might be small bumps for the altcoin between those levels. He insisted XRP would only face “a real fight” in these levels.
Notably, XRP has struggled to breach the $0.65 resistance for some time now. It has failed to sustainably trade above the price mark despite a short-lived surge to $0.93 in July 2023. The asset made an attempt at the resistance level on Saturday but was pegged back.
Nevertheless, Xoom insinuated that a break above the $0.65 level will see an almost seamless swing to $1.6. At the current market price, XRP will surge over 63% to trade at that level.
Furthermore, if XRP breaks above $1.6, the asset will target another 52% upswing to the $3.35 level, which is its all-time high.
Levels Amid Anticipated Uptrend
Xoom stressed on these levels a few weeks after stating that XRP was looking like a real treat. The crypto analyst featured a chart where XRP looked to be breaking out of a symmetrical triangle. The price pattern has been forming since the 2021 bullish trend.
Analysts have targeted an XRP price explosion when it finally breaks out from the multi-year triangle, with World of Charts speculating a test of its 2021 bull zenith at $1.9761. A surge of this magnitude would entail a 336% uptick from its current market price.
Meanwhile, XRP corrected over 3.5% after the rejection at $0.6 over the weekend, trading at $0.588. The asset is down less than 1% in the past 24 hours amidst a wider market correction.
