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Fibonacci Levels Indicate XRP Price Rally Will Continue For 80% Upsurge – What You Should Know

Press Releases Crypto News Bitcoinist Fibonacci Levels Indicate XRP Price Rally Will Continue For 80% Upsurge – What You Should Know

The XRP price is currently experiencing corrections after a dramatic six-week rally. Notably, the XRP price recently peaked at $2.82, reaching its highest level since January 2018, before retreating in the past 24 hours. This retreat has seen the XRP price decline by about 12% in the past 24 hours as the Bitcoin price broke above the psychological $100,000 threshold.

Despite the current correction, crypto analyst Dark Defender suggests XRP is still on track for further gains, with Fibonacci levels indicating an 80% price upsurge from the current price.

XRP Price Hits Key Fibonacci Levels Amidst Correction

Dark Defender, a popular crypto analyst, shared his insights on the social media platform X, explaining XRP’s price movements through Fibonacci levels while also revealing key price targets to look towards and key support levels to keep an eye on. The Fibonacci retracement and extension levels often serve as critical indicators of support and resistance during rallies and downtrends.

According to the XRP / U.S Dollar 4-hour candlestick price chart that accompanied his outlook, the ongoing correction began after XRP reached the 261.8 Fibonacci extension level. According to him, this pullback is not unexpected, given the recent rally. Interestingly, he also pointed out that the sideways movements are likely to continue before the rally resumes.

Source: X

Targets For The Price

In his post, Dark Defender emphasized that XRP’s bullish momentum remains intact despite the short-term correction. In terms of a price prediction, he highlighted two key targets at $2.92 an

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Author: Scott Matherson

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