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- XRP closed at $2.96, its strongest level in two weeks, sparking bullish sentiment.
- Analysts see a repeat breakout pattern, with potential targets of $4–$10.
- Key resistance sits at $3.05–$3.20; support remains at $2.6.
XRP has re-emerged as a top crypto to watch, with analysts eyeing a massive end-of-year breakout. After weeks of consolidation, the token closed at $2.96 on Sept. 7, marking its strongest finish this month and its highest close in two weeks.
Market Veteran Calls $10 XRP Possible
Well-known market commentator Heisenberg believes XRP’s latest setup mirrors past breakout cycles that drove sharp rallies. His analysis suggests that if XRP clears resistance between $3.05 and $3.20, it could quickly target $3.8 to $4.2, with the possibility of stretching to $10 by year-end.
Heisenberg noted that XRP has repeated a three-step pattern several times: a parabolic rally, a downward-sloping trendline, and then another explosive breakout. Since July’s peak above $3.6, XRP has cooled off, but the Relative Strength Index (RSI) now sits at 48.86, a neutral level that allows room for fresh upside momentum.
Also Read: WEF Names XRP Ledger in Debt Tokenization: Could This Be XRP’s $10 Trillion Opportunity?
Technical Picture and Key Levels
Currently, XRP’s major support sits at $2.6. A breakdown below this level could weaken the bullish case. However, as long as the token stays above that floor, the chart favors another upside move.
Analysts argue that XRP’s resilience is a positive signal. Gordon, a veteran trader, believes XRP has been consolidating long enough to prepare for a sharp rally to $6. Similarly, analyst Hov sees XRP at a tipping point, suggesting either a third bullish wave or continued sideways movement.
CryptoInsightUK also highlighted XRP’s relative strength against gold, pointing out a bounce from support, a bullish RSI cross, and a rejection at the 0.702 retracement—all signs of underlying strength.
With technical indicators cooling off and multiple analysts aligning on a bullish outlook, XRP may be primed for another breakout. The key test lies just above $3.05, and if history repeats, double-digit XRP could be more than just speculation.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
