The price of XRP has seen some volatility in recent days, but remains above key support levels according to crypto analyst Dark Defender. In comments shared today on X, Dark Defender noted that XRP wicked down to $0.60 overnight but held above the important support level of $0.6131 that he had previously identified.
“We said the horizontal move is betw $0.66 & $0.61,” Dark Defender wrote, referring to his previous technical analysis. We discussed the latter; $0.61 is important.” This support did indeed hold, allowing XRP to bounce back up over $0.63 during today’s trading.
Dark Defender had expected a move up towards $0.73 on November 13th based on his analysis, which also proved accurate as XRP touched $0.71 briefly on Sunday.
He attributes this price action to the recent news around BlackRock’s potential entry into crypto, though his targets were identified beforehand.
Looking ahead, Dark Defender sees potential for XRP to reach up to $0.87 by November 19th. He pointed to the completion of a Wave 4 correction, which saw prices bounce between resistance at $0.66 and support at $0.61 over the past few days. With this correction complete, he believes XRP is poised for further gains, possibly to the $0.87 – $1.05 range in the near-term.
“XRP is close to a Parabolic Move.” he concluded.
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At the time of writing, XRP is trading around $0.63, down over 4% in the last 24 hours. The daily RSI reading of 58 indicates XRP is currently in a minor cooling off period after its recent bounce, but still well above oversold levels. If support continues to hold over the coming days, Dark Defender’s upside targets could be tested as predicted. As always, his views should not be considered financial advice.
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