XRP has reclaimed and held above the pivotal $0.66 price territory, prompting market analyst Dark Defender to unveil next support and resistance levels to watch amid sustained optimism.
In a recent analysis on X, Dark Defender expressed satisfaction as XRP achieved the $0.6649 target. Notably, this milestone had been met with skepticism by some market participants.
The sentiment surrounding XRP had been different the previous week, with many anticipating a potential crash. Dark Defender highlighted the resilience of those who remain optimistic, emphasizing a relaxed stance and the absence of worries.
The analyst dismissed the notion that a $1 valuation for XRP was impossible. According to him, such skepticism was amusing. He stressed that despite initial skepticism, XRP successfully reached and even surpassed the first target of $0.6649, a level that had faced mockery.
Dark Defender emphasized that closing above this level in the daily timeframe would establish a new support, signaling positive momentum for XRP. Interestingly, the analyst then went on to highlight these imminent short-term support and resistance areas.
Next XRP Support and Resistance Levels
A few hours after the analysis, XRP has pushed further, currently changing hands at $0.6880 amid a 6.21% increase over the past 24 hours, with a volume of $1,824,453,780. The asset is now approaching the next resistance levels, having flipped $0.6649 into support.
Dark Defender identified the first key resistance levels at $0.7544, acting as a roadblock above the $0.75 threshold. Should XRP breach $0.7544, it would face the $0.8369 resistance. The next opposition would come in at $0.8888, as XRP completes Wave 3 of an ongoing 5-Wave structure.
The $0.8888 point serves as the last major roadblock before the much-coveted $1 threshold. Once XRP breaches $0.8888, it could face a smooth sail to $1.0507. Dark Defender has advised investors to look out for these levels, as they would serve as major hurdles to XRP’s uptrend.
Conversely, the analyst highlighted important support levels that could help XRP hedge against further dips amid a price collapse. The first support level now sits at $0.6649. If the bears overtake this point, XRP would need to hold the support at $0.6044, as this is the last line of defense below the $0.60 threshold.
However, losing $0.6044 could potentially bring XRP to the $0.5286 level. These support points are crucial for sustaining XRP’s current positive trajectory, helping to reduce potential downward pressures. XRP’s path hinges on demand and the prevalent trend in the broader market.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
