Analyst Names Key Level for XRP Bulls
Summary
XRP has staged a massive multi-week recovery, surging over 47% in just seven days to test a critical structural ceiling around the $1.50 level. However, following an explosive, near-vertical rally off the August market lows, price action has once again arrived at a stubborn resistance zone. According to popular chart analyst Dom, known on the X platform as @traderview2, clearing this overhead barrier is the ultimate prerequisite for the cryptocurrency to unlock its next major leg upward toward the $1.80 range.
Key points
- XRP has surged over 47% in seven days to test the $1.50 resistance zone.
- The analyst Dom (@traderview2) identifies the $1.50 level as the key prerequisite for a move to the $1.80 range.
- XRP bulls have attempted to breach and hold above the $1.50 level on at least four separate occasions this year, with each attempt resulting in rejection.
- The asset dropped to a Value Area Low near the $1.00 mark in early August before staging a sharp V-shaped recovery.
- A long upper wick on the recent daily candle demonstrates strong buyer momentum tapping into liquidity above $1.50.
Timeline
XRP drops to a Value Area Low near $1.00
XRP stages a sharp V-shaped recovery surging over 47% in seven days
“If buyers can successfully consolidate and hold above this barrier, the $1.80 range becomes the primary destination.”
Background
XRP has faced repeated rejections at the $1.50 level in February, March, April, and May.
Why it matters
Clearing the $1.50 resistance is seen as the necessary condition for the next major upward move to the $1.80 range.