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The price of Ripple XRP may rise by 200% to reach $6.5: 📊
Cryptarch_ on TradingView has a detailed chart indicating that XRP is forming a descending triangle, which typically precedes significant breakouts.
It also pointed to a shift in the Relative Strength Index (RSI), which had been declining for months but has now started to rise. This indicates that momentum is shifting in favor of buyers, suggesting a potential upward trend.
Cryptarch_ published a trading plan: buy XRP at $2.10, and set the stop loss at $2.00. This setup reflects confidence in the bullish trend, while limiting potential losses in case the market moves against the trade.
In his price chart, Cryptarch_ drew a multi-stage upward path for XRP, where the price will rise while testing multiple key resistance levels, indicated by purple horizontal lines. These levels are critical at $2.49, $3.00, and $3.39.
Among them, the $3 level is fundamental, as XRP recently saw a significant rise at this price level on March 2, 2025. The ability to break this level and stay above it will make it a very strong support zone, paving the way for another move towards the $6.5 target.
The analyst expects the price of Ripple to rise to $6.5, with the possibility of reaching a slightly higher target at $6.82. However, it is advised to close at $6.5 to secure a safe profit before facing another strong resistance point.
One of the dates to watch is Saturday, May 10, 2025. This is the day when XRP might break through the resistance level at $3 and rise, or be rejected and fall to $1.61. This date may determine whether the bullish predictions will come true or be delayed further.
The performance of Bitcoin is also crucial here. If Bitcoin maintains its rise at $89,000, it could drive the altcoin market in general. Currently, Bitcoin is trading at $91,872.