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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

XRP Price Forms Descending Triangle On The Daily Chart, Why $1.95 Is Important

Scott Matherson
Scott Matherson
6 months ago
3 mins read
Why is XRP price up today

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Crypto analyst Dark Defender has revealed a pattern in which the XRP price has formed on the daily chart. In his analysis, he highlighted the $1.95 price level as being crucial as it could determine XRP’s next move. 

XRP Price Forms Descending Triangle On The Daily Chart

In an X post, Dark Defender mentioned that the XRP price has formed a descending triangle on the daily time frame. He added that a breakout is imminent in this pattern as long as $1.95 is protected.  The analyst highlighted $2.22, $2.72, $2.90, and $5.85 as the initial targets XRP could reach if the price breakout occurs. 

Related Reading: Ethereum Price Guns For A Mid-High Timeframe Reversal Against Bitcoin In Bullish Q1 2025

XRP Price 3
Source: X

Meanwhile, the crucial support levels for the XRP price are $1.95, $1.88, and $1.63. Based on an earlier analysis by Dark Defender, XRP could still rally to double digits in the long term. The analyst highlighted a bull flag that had formed on the daily chart, noting that it was similar to the one that had earlier formed on the 4-hour timeframe. 

Dark Defender stated that the bull flag that formed on the daily chart targets the Fibonacci Level of $5.85 and penetrates toward $10.1979. The crypto analyst remarked that this is a historical pattern approach and the Fibonacci Wave. He added that the last Fibonacci targets stand at $18.22 and $36, with no significant targets in between. 

XRP Price 2
Source: X

The analyst’s accompanying chart showed that the XRP price could reach these targets in the first half of 2025. While analyzing XRP’s yearly chart, Dark Defender stated that a God Candle awaits next year. This came as he noted that XRP had enjoyed a breakout year in 2024, having consolidated for around six years. XRP boasts a year-to-date (YTD) gain of over 228%. 

From An RSI Perspective

Crypto analyst Egrag Crypto provided insights into the XRP price action from a Relative Strength Index (RSI) perspective. The analyst stated that 74, 70, and 65 are the three key RSI levels to watch out for. In the most bullish scenario, he remarked that XRP needs to ideally reach 88 or even 96.5 and higher for the RSI curvature to continue trending upward. 

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XRP Price 3
Source: X

Egrag Crypto said it would be “incredibly” bullish if the XRP price bounces from the 74 range. Meanwhile, a dip to 70 could indicate bearish momentum. However, he added that a bounce from this RSI level is essential for continuing the bull run. 

Likewise, a dip to 65 is also bearish for XRP, but as long as the crypto doesn’t drop below this level, then a bounce would indicate a significant move ahead. The crypto analyst warned that closing below the 65 RSI level could signal the end of the bull run. 

At the time of writing, the XRP price is trading at around $2, down over 3% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com
Price remains above $2 | 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.

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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

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Ad discliamer

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