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XRP price is currently trading at $3.22, with a 0.6% increase in the past 24 hours. Nevertheless, it has made a 10 percent gain over the last seven days. This was a result of the general upward trend in the cryptocurrency market, with Bitcoin and Ethereum hitting new records. As the Ripple token consolidates, analysts forecast a breakout level of $5.85 soon.
XRP Price Prediction: $3.33 Breakout and Short-Term Targets
In a recent analysis, Dark Defender discussed a major level of support and resistance regarding the price of XRP. He noted that XRP rebounded at exactly $3.33. The chart indicated that the Ripple token has been consolidating and could move towards the value of $3.05 should the $3.33 level not be broken.
According to the analysis, XRP’s price is targeted at $3.33, $4.39, and $5.85 in the short term, with strong support at $3.05 and $3.00. This indicates that as long as the price does not break the barrier of $3.33, it can still trade in a close range.
RSI also dipped on the chart, where XRP is in an accumulation stage before a breakout. The RSI and Fibonacci levels indicate a potential upward movement, with XRP price breaking above $3.33.
Moreover, this consolidation period provides upwards momentum, which might propel XRP over $5.85.
$11 Target and Fibonacci Extensions
Ali Martinez presented a more bullish version; his opinion was that the price of XRP might soar to $11 in the long term. He relied on the breakout of XRP of the bull flag in the weekly chart. Consolidation of the price happened after it rallied more than 580% to over 3.40, at under $0.50.
Martinez applied Fibonacci extensions, with targets set at $5.75 (1.272 extension) and $11.20 (1.618 extension), with $11 representing a potential all-time high.
In addition, Martinez backed this forecast by pointing out XRP robust on-chain metrics. The MVRV ratio, which recently flashed a “golden cross,” is historically linked to major price surges. Based on past instances, Ripple token could rise to $5 in the short term, with $11 as a long-term target.
Analyst Predicts Reversal: Breakthrough at $3.33
In addition, Tom Tucker noted a V-shaped reversal, meaning that XRP price was changing direction. He emphasized that XRP breakout above $3.27 suggested strong upward momentum.
Provided the altcoin price overcomes the resistance level at $3.33, Tucker estimated that it would reach $3.40 to $3.50. Such a breakout would validate a sharp rise in the short term.
XRP/ 1-D Chart | Source: X
Tucker pointed out the critical support at $3.20. This support area has served as a launching pad for XRP rally, and it needs to sustain it above this level to drive further gains. If XRP price holds above $3.20, it could drive the price further up, providing the foundation for a breakout toward $3.50.
Legal Momentum Drives XRP Price
In the meantime, Jireon, in his analysis, says that XRP price is within an ascending channel, which is a common bullish structure. The price of XRP was already resting on the upper side of this channel and it had the capacity of extending upwards before encountering resistance.
The other news he mentioned is that Ripple’s legal issues are also significant. Now that the legal overhang has been removed, XRP price may increase, and the road to $4 will be possible.
XRP/USD 1D Chart | Source: X
Jireon believed that due to declining legal issues, XRP price has greater upside potential. The positive resolution of Ripple legal battle is expected to boost investor confidence, and XRP bullish structure further supports this move.
