Experts Identify Key Level XRP Needs to Break to Initiate Uptrend

Prominent cryptocurrency analyst Dark Defender has pinpointed a key price level for XRP that could signal the start of a significant uptrend.
In a recent X analysis, Dark Defender utilized Heikin Ashi Candles and the Fisher Indicator to identify shifts in trend. These tools help traders identify the direction of a trend by smoothing out price fluctuations, making it easier to spot consistent movements.
According to the analyst, the combination of these tools on the weekly timeframe clearly shows a potential trend reversal for XRP. Heikin Ashi Candles are designed to filter out market noise and present a clearer view of trends by averaging the open, close, high and low prices.
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Combination of key indicators
This approach allows traders to focus on broader trends rather than short-term fluctuations. The Fisher Indicator is used to identify the momentum and direction of price changes, further supporting this analysis and confirming a shift in trend.
Using these indicators, Dark Defender identified the key price level for XRP as between $0.6044 and $0.6649. This price range is crucial because it encompasses several important technical indicators.
One of these indicators is the Ichimoku Cloud, a tool that helps find support and resistance levels, trend direction, and momentum. Components of the Ichimoku Cloud closely correspond with the Fibonacci retracement levels within this price range.
Fibonacci retracement levels are based on key numbers determined by mathematician Leonardo Fibonacci, and traders use them to predict potential support and resistance levels. In this case, they reinforce the importance of the $0.6044–$0.6649 price range as a crucial area for XRP to break out of.
Furthermore, Dark Defender points out that the trend resistance line (represented as a dark red line on the chart) intersects with the Ichimoku Clouds and Fibonacci levels within this price range.
XRP needs to close the week above $0.6649
The convergence of multiple technical indicators at the same price level shows the importance of this area. A weekly candle close above $0.6649 will be a strong bullish sign, indicating that XRP has momentum to push towards the higher Fibonacci levels.
According to the latest analysis, XRP has broken through the lower boundary of this key price range to close the day at $0.52. This development is encouraging for bullish investors and suggests that XRP is about to break out of the $0.6049 price level and penetrate the overhead resistance at $0.6649.
According to Dark Defender, if this price level is breached on a weekly closing basis, it would signal a strong uptrend that could propel XRP to new highs.
Dark Defender also mentioned the correlation between this movement and the Elliott Wave Theory, specifically mentioning that XRP is currently in Grand Wave 3. In Elliott Wave Theory, Wave 3 is typically the most powerful and extended wave in a bullish market cycle, often manifesting as significant price increases.
Meanwhile, XRP is trading at $0.5245 and it would need to break above the 20-day SMA ($0.5269) and 200-day SMA ($0.5776) to push for a retest of Dark Defender’s initial interest level of $0.6049. A breakout of both moving averages could indicate strength in the bulls to carry them to $0.6049.
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