- Crypto analyst JD suggested a historical precedent for XRP’s 10x rally as a potential benchmark, which could propel its price from $2.64 to around $26.4.
- While XRP has previously defied similar patterns, he advised traders to remain vigilant and consider correction opportunities as DCA points.
Crypto analyst JD recently shared a technical breakdown of Ripple’s XRP price, pointing out a significant breakout and crucial market indicators. He underlined the fact that strategic profit-taking is necessary while cautioning against excessive market enthusiasm.
Crypto Analyst Spotlights XRP Price Technicals
JD mentioned his previous correct predictions and how XRP’s price skyrocketed tenfold from its $0.28 low in previous years. He described this level as the foundation for a strong rally, stating that those who followed his analysis had seen significant returns.
As indicated by JD, the XRP price has left a long-term symmetrical triangle pattern and appears to be well into a bullish trend. In his chart, he has noted Fibonacci retracement levels with 0.618 positioned at about $0.44 and the 0.786 level around $0.28. He indicates that both levels have previously supported pushing XRP higher.
JD identified a resistance zone, marking it as a potential point where traders might consider taking profits. His analysis also highlighted a bearish divergence, a scenario where XRP’s price forms a higher high, but the Relative Strength Index (RSI) creates a lower high.
Still, despite XRP’s history of ignoring similar bearish divergence in 2024, JD considered this a pretty standard formation warning of potential weakness in price. He asked: “Can we negate bearish divergence? IF NOT, red box may hit for another DCA opportunity!” This means that if the bearish divergence occurs, XRP could drop by correction, so another DCA opportunity may materialize.
However, amid the broader crypto market selloff today, XRP is down more than 16% and is currently trading at $2.30 with a market cap of $136 billion. Also, the Coinglass data shows that XRP futures open interest has tanked 35% to $3.7 billion while 24-hour liquidations have soared to $119 million.
Is $27 Target On Cards For Ripple Token?
JD refrained from specifying an exact target but referenced XRP’s historical 10x surge as a possible benchmark. With XRP currently trading at $2.64, a similar rally would push the price toward $26.4, aligning with projections from other market analysts who have set targets around $27. As previously mentioned in our report, the XRP TVL has also surged past $80 million and the growing ETF demand could serve as a further catalyst.
He reminded everyone of the need for strategic exits by cautioning traders about risks on the markets: “95% will get rekt this cycle! Let’s be the smart money (5%) who actually wins this time!” JD has always discouraged reckless market behavior and instead promoted structured trading methodologies like DCA, or Dollar Cost Averaging.
His latest technical outlook sheds light on the most important aspects of XRP’s price action with regard to monitoring the support levels and resistance zones and how bearish divergence would affect the trading. According to JD, if the Ripple token can reverse this divergence, it will be “the cycle top” at the current rally.
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