Ripple price has been seeing some upward movement again. However, it will face some resistance at key levels on its journey to greater heights. A technical analyst from the Impossible Analysis YouTube channel noted that the price could be going to $5 but mentioned some key levels to watch on its way there.
ImpossibleAnalysis notes XRP strong bullish momentum while identifying potential correction points. The analyst emphasizes a consolidation phase between $0.340 and $0.327, suggesting this range needs to be cleared for continued upward movement.
Key Resistance Targets and Support Targets for XRP Price
ImpossibleAnalysis maps out several important resistance levels using Fibonacci retracement tools. After breaking above the current consolidation zone, XRP faces its first major resistance at $0.378, followed by a second critical level at $0.444. The analyst suggests these levels could act as stepping stones toward the ambitious $5 target.
According to ImpossibleAnalysis, breaking above $0.350 could trigger a significant price surge toward the $4 range. The analyst emphasizes maintaining support above $0.215 as crucial for the overall bullish structure. For shorter timeframes, he identifies $0.296 and $0.273 as key support levels that must hold to maintain upward momentum.
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In his technical breakdown, ImpossibleAnalysis warns that dropping below $0.273 could signal the end of the current upward trend. He specifically cautions that breaking below $0.272 would likely trigger a larger downward movement toward the $2 region, potentially invalidating the bullish scenario.
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