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.
- Top Analyst Identifies a “Red Flag” in Bitcoin (BTC) On-Chain Indicators
- Bearish Market Drags Down Bitcoin and Ethereum While This Altcoin Shines
- Investor Alert: Cardano (ADA) and Meme Moguls (MGLS) Surge Amidst Market Volatility!
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.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com