A crypto analyst has shared a XRP price charthinting at a possible breakout above $10 if the prominent altcoin can replicate a past fractal. The analyst urges XRP community closely monitor this fractal, highlighting the need to monitor price movements in the coming weeks.
XRP Price Targets $16 as Analyst Spots Bullish Fractal
An XRP supporter on X (formerly Twitter), known as ‘LUDXRP’, has released a detailed graphical analysis, predicting that the price of XRP could rise to a ambitious price target of $16.15. The analyst mentioned the presence of a historical fractal on the XRP chart.
He fractal patternindicated by the blue circle on the chart, highlights a significant bullish movement in the price of XRP. Following the chart movements, if XRP can replicate this fractal, it could trigger a significant price rise towards $16.15.
Multiple green horizontal lines are also displayed on the chart, highlighting different resistance and support zones that could trigger a reaction in the XRP price. With XRP trading at $2.42, horizontal trend lines above its current price are considered 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 overcome 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 mark, it could lead to a possible price drop at $1.
With the possibility of breaking above $16, the XRP supporter has urged community members to closely monitor the fractal on the price chart. He highlighted the importance of XRP maintaining an upward trend within the blue circle, which could trigger its projected price increase about $16.
XRP will see “Face Melting” rally this Christmas
A crypto analyst identified as the ‘charts guy’ at X has voiced optimism about future XRP price prospects. According to analyst, XRP could experience a ‘face melt’ reach new highs at Christmas and at the end of January.
The analyst has stated that if XRP continues to follow past bullish trends seen in 2017, the market will likely consolidate for another two weeks until Christmas. He revealed that this bullish projection was primarily based on the XRP fractal rather than relying on fibonacci levels.
In response to a comment From a member of the crypto community, the Charting guy agreed that by December 30, XRP would experience a series of strong green weeks, potentially fueled by holiday hype or bullish sentiment surrounding the RLUSD Stablecoin.
The analyst also agreed that on January 20, the opening day of Donald Trump as President of the United States (US), could mark the peak price of XRP, which the market would likely consider a “news selling event.”
Fountain: NewsBTC.com
