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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Crypto Analyst Predicts Multiple God Candles For XRP, How High Can It Go?

Scott Matherson
Scott Matherson
10 months ago
3 mins read
XRP

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A crypto analyst remains highly optimistic about  XRP Ledger’s native token, XRP, predicting the appearance of multiple God candles that could potentially propel the cryptocurrency into a strong bullish rally. 

Breaking Resistance Could Trigger God Candles

In an X (formerly Twitter) post on June 14, a crypto analyst identified as ‘Dark Defender’ provided a detailed interpretation of technical indicators and resistance levels that could signal a bullish uptrend for XRP. The analyst revealed that XRP has experienced a highly bullish reversal for the Fisher Indicator on the weekly chart.

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The Fisher Indicator is a versatile technical tool used to pinpoint trend reversals and highlight when prices have moved to the extreme. Based on this technical indicator, Dark Defender has revealed that the altcoin has broken through an initial price resistance at $0.04623, indicating strength and momentum in the cryptocurrency’s price movement. 

Sharing a price chart depicting XRP’s movements, the crypto analyst unveiled that the altcoin’s price is currently testing the interim Fibonacci levels at $0.5286. He expressed bullish optimism about XRP closing above the week’s candle around the $0.53 price mark. 

XRP
Source: X

Dark Defender also highlighted the next significant resistance level for XRP’s price. The analyst expects XRP to test secondary mid-level resistance points at $0.6044, as breaking this level would be a positive signal for a higher upward momentum for XRP. 

Interestingly, Dark Defender expects XRP to trigger God candles if it successfully breaks all the aforementioned resistance levels. He highlighted another key support level at $0.6649, labeling it the master fundamental level. The crypto analyst disclosed that it was crucial to not underestimate this level, signaling the potential for strong bullish surge in XRP if it surpasses this key threshold. 

The analyst has predicted multiple God candles that indicate sharp price increases for XRP, possibly opening up a path to “Heaven’s Stairway.”

Update On XRP Price Analysis

Amidst recent legal challenges with the United States Securities and Exchange Commission (SEC) and broader market downtrend, XRP has been displaying strong bullish signals and healthy price fundamentals. At some point this year, the cryptocurrency plummeted below the $0.5 price mark, experiencing unexpected price declines. 

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However, recently, the altcoin has been on a roll, recording multiple bullish surges that have pushed its price to its current value of $0.538. According to data from CoinMarketCap, XRP has soared by almost 30% over the past week and risen by another 1.41% in the last 24 hours. 

The cryptocurrency has been performing relatively well despite market volatility. Its recent gains have also positioned it at a critical point where its price could potentially surge above the $0.6 threshold. Additionally, with the Ripple vs. SEC legal battle nearing conclusion and a settlement on the horizon, XRP is poised to overcome bearish sentiment fueled by regulatory concerns. 

XRP price chart from Tradingview.com
Token price makes its way toward $0.6 | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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