- XRP’s 2024 rally from $0.50 to $3.40 forms the basis for a possible repeat of its earlier 6.8-fold gain.
- The $1.73 breakout level stands ahead of higher Fibonacci targets at $6.08 and $9.24, with $8.60 as the projected price.
- XRP has rallied from $1.26-$1.31, indicating a recovery, but it is not without its challenges, as resistance levels and trading volumes are crucial.
The weekly chart of XRP indicates a potential reversal and a significant drop in price, with traders closely monitoring to see if buyers can secure key resistance levels.
XRP’s Current Setup Resembles Its 2024 Rally
Diana (@InvestWithD) says XRP could repeat its 2024 surge, when the token rose from around $0.50 to $3.40. Her chart compares that rally with recent price action and points to a possible liquidity sweep and bullish change in market structure. She places a potential future target near $8.60.
Orange circles mark the two periods Diana compares. The first examples are price action that occurred prior to the 2024 rally, and the second are a few days of consolidation that followed a downward trend.Both areas show price struggling before a possible upward move, though that similarity alone cannot confirm another rally.
XRP has broken from its previous levels of resistance and is trading below multiple weekly resistance levels. The down pattern is caused by selling pressure, which has restricted recovery attempts. The chart is unable to confirm a bigger move to the upside until buyers are able to push above the highs close by.
Liquidity sweep – When the price breaks below a previous low range and then rises. The shift may provoke stop-loss orders and entice speculators hoping for additional losses. A bullish change of character would need a clear break above a previous swing high to support the reversal argument.
XRP Must Break Above $1.73
The post identifies $1.73 as the level that could confirm a breakout. A sustained move above it would show that buyers have pushed through an important price barrier. If XRP fails to reclaim that level, the bullish setup remains unconfirmed.
Trading volume is another factor in the analysis. Diana refers to a large volume spike as part of the potential setup. Stronger volume during a breakout would show greater participation, while a price rise on weak volume could prove difficult to maintain.
The derivatives chart shows sharp changes in long and short positions during August. These shifts occurred alongside a rapid increase in XRP’s price. However, the bars show changes in trader exposure, not a reliable forecast of the next move.
XRP remained in a range mostly from $1.30 to $1.55 until the end of August and September. The price rallied again in September and early October, but then pulled back. The moves indicate that trading does not always result in a permanent rally.
The intraday chart shows XRP recovering from roughly $1.26-$1.31, with a reported daily gain of 1.89%. Trading volume reached $1.66 billion as the price approached resistance near $1.32. Holding above $1.29 would help preserve the recovery.
XRP’s $8.60 Target Faces Several Hurdles
The post arrives at the target by multiplying $1.27 with the 6.8x gain during the 2024 run-up. Her estimate was $8.60, and the result is approximately that. This estimate assumes a similar percentage increase, but the market is not guaranteed to repeat that performance.
Her chart places Fibonacci extension levels near $6.08 and $9.24 around the proposed target. The $6.08 level would be an earlier test if XRP climbed substantially. Reaching $8.60 would require the token to move through several resistance areas along the way.
The first major test remains the $1.73 breakout level. Failure there could leave XRP trading within its current range or expose lower support. A drop below $1.29 would also weaken the recent intraday recovery.
Care must be taken in reading leveraged positioning, too. Significant shifts in long and short time frames may follow dramatic price swings but do not guarantee the trend. Traders would need to assess price action and volume together.
For now, Diana’s $8.60 target depends on XRP repeating the scale of its 2024 rally. If she keeps pressing higher than $1.73, she will be vindicated, but if she fails again, the move will remain unconfirmed. The next reaction around resistance will show whether buyers can make further progress.
