According to technical analysis, Ripple's native token XRP may be on track for significant growth by mid-2025 with a target of $4.50.
Long-Term Ascending Channel
Since November 2024, XRP has been moving within an ascending channel on higher time frames. This channel has been confirmed with three major touchpoints, providing a foundation for a bullish long-term outlook. XRP's price action has remained within this channel in recent months, indicating a potential for significant price movement.
Key Support and Resistance Levels
The key support level is located at $1.97, aligning with the 0.618 Fibonacci retracement and value area low. Moving towards this level could be a critical moment for future price movement. Resistance is expected near the upper boundary of the channel as price battles with recent fluctuations.
Expected Price Behavior
If XRP continues to respect the channel structure, a short-term dip to $1.97 might present a good opportunity for buyers. Maintaining this level could trigger the next leg up towards the upper boundary of the channel, targeting $4.50 by mid-2025.
Keeping key levels in check, especially at $1.97, may significantly impact XRP's future behavior. Price movements and trading volumes at these moments will be crucial for confirming any breakout scenarios.
