Renowned crypto analyst “Dark Defender” has forecasted a short-term bullish movement for the XRP price, with expectations that the cryptocurrency might hit the $0.66 mark this week. Sharing his insights on Twitter, the analyst referenced XRP’s 1-day chart, highlighting recent price dynamics and key technical indicators. “Hi there. XRP in the daily chart broke the initial resistance & back-tested it. We had a similar move on 13-Jul-23. The next Fibonacci level stands at exactly $0.6649. If we don’t see XRP below $0.50 support, we expect to hit $0.66 this week,” the analyst tweeted. A Deep Dive Into The XRP Price Analysis The chart presented by Dark Defender shows that on September 29, XRP experienced an upward breakout from an ascending triangle. The XRP price increase by 8% was driven by market participants’ expectations of Ripple’s Proper Party. Although “major news” failed to materialize, the price of XRP still managed to stay above the trend line. Related Reading: Expert Predicts Staggering 760% Surge For XRP Price: Here’s The Roadmap Historically, ascending triangles are considered continuation or consolidation formations, indicating a potential resumption ..
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