XRP’s price action has got people talking. Top analyst Seth shared his thoughts on X (formerly Twitter) about where the price of XRP might be headed. He points out the strong support from XRP holders and notes how the price respects key technical levels. Seth thinks XRP could take a breather before making a push toward record highs.
However, after being flat from 2022 through 2024, the price of XRP had some upward momentum. The recent surge has thrown it up near its all-time high, where it’s now hitting resistance at the 0.786 Fibonacci level. Despite the bullish momentum, overbought conditions on the weekly RSI indicate that a short-term pullback or sideways movement could be on the horizon.
Historical data shows that XRP’s price has respected technical levels, with previous peaks exhibiting large wicks, signaling heavy selling pressure and strong buying support. The current price action suggests that the 0.786 Fibonacci level, around $1.87, could serve as immediate support if the price retraces.
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XRP Technical Analysis
The Fibonacci retracement levels on the chart provide a clear roadmap for potential support and resistance zones. In case of a correction, the 0.618 ($1.22) and 0.5 ($0.80) levels could act as significant support zones while maintaining the broader bullish structure.
The RSI, as highlighted in the tweet, shows overbought conditions with a likely target cooldown to 61. This scenario aligns with market behavior, where overbought levels often precede profit-taking or consolidation phases.
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XRP Market Sentiment and Whale Activity
The tweet also underscores the role of XRP’s robust community and whale accumulation. Large wicks in the price chart suggest substantial buying pressure at lower levels, potentially driven by institutional or large-scale investors. This behavior indicates a strong base of support, even during periods of market uncertainty.
Furthermore, if XRP’s price successfully consolidates and breaks its ATH, the next resistance targets could be the Fibonacci extension levels of 1.272 ($3.50) and 1.382 ($4.00). However, such a move would depend on sustained buying pressure and market sentiment.
With the community’s continued support and technical adherence, XRP remains a token to watch in the coming weeks.
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