XRP is looking strong! After a solid bounce from a key buying opportunity, it’s showing serious bullish signs. One analyst even predicts a new all-time high – a price of $4!
The Case for $4 XRP
The price action has been building nicely since XRP dipped to between $0.85 and $1.00. Now, it looks like this upward trend will continue, potentially blasting past the $3 mark and heading towards $4.
An analyst group, Setupsfx_, on TradingView, points to a strong reversal from a crucial buy zone. This zone had a history of strong buying, rejections of lower prices, and large institutional orders. Their analysis shows a clean chart pattern, consistent with “Smart Money Concepts” (SMC). This includes accumulation, a “Break of Structure” (BOS), and periods of price manipulation before the current climb. Essentially, the chart shows a textbook example of a successful reversal from a buy zone.
There’s plenty of technical evidence backing this up: a clear “Change of Character” (CHoCH), higher highs after the recent low, a respected three-point trendline, and a respected Imbalance zone (IMB).
The Road to $4
XRP is currently trading just above $2.4, consolidating after its initial rally. Setupsfx_ suggests a period of secondary accumulation might happen before a push to $3. If the bullish momentum and trading volume continue, breaking through $3 could send XRP above $3.7 and towards that $4 target in the coming weeks.
The broader crypto market will likely remain volatile, but the analysts remain very bullish on XRP, predicting a roughly 66.6% increase to a new all-time high.
Smart Money Moves: When to Buy
Setupsfx_ isn’t just making predictions; they’re also giving trading advice. Their analysis shows ideal entry points, stop-loss levels, and buy zones.
They suggest an entry point around $1.6, with a stop-loss just above $1.4 to limit potential losses. For those who missed the initial entry, they’ve identified another good buy zone between $2.40 and $2.43, if the upward momentum continues.
