XRP held a key support level just above $1.00 through the weekend after slipping to $1.02 on Friday, and several analysts now expect a sharp upside reversal. Dark Defender points to an oversold weekly RSI, while Gerla flags a bullish divergence and a possible reclaim of $1.08.
XRP has defended a support level just above $1.00 through the weekend, and several analysts now expect the token to reverse sharply higher. The token slipped to $1.02 on Friday, perhaps due to the delay of the CLARITY Act at the end of the week, but it did not break below the level.
Dark Defender sees a weekly RSI bottom
Popular analyst Dark Defender argues that the drop into $1.02 pushed XRP's RSI into a deeply oversold zone on the weekly chart, which he reads as a sign the RSI has bottomed. He frames the move as the sub-wave structure within the Grand Wave, pointing to the completion of a major correction. As a result, Dark Defender has turned bullish, saying investors should "expect the strongest reversal in history" once XRP reclaims the $1.05 zone, a level still being tested from below.
Gerla eyes a reclaim of $1.08
Fellow analyst Gerla points to a similar setup, arguing that XRP swept the lows and bounced straight off major support. He notes that the price printed a lower low while the RSI charted a bullish divergence, with the long-term trendline holding as well. Gerla says that as long as XRP stays above $1.02, it has a shot at reclaiming $1.08, which he believes could send the token into a serious reversal.
Long-term targets stretch into double digits
Other bullish voices, including ChartNerd and EGRAG CRYPTO, have laid out long-term charts pointing to a bigger breakout for XRP, with targets in the low- to mid-double-digit range. Those levels look far-fetched given current market conditions, though the analysts remain aligned on the expectation that targets will land in that range.
Source: CryptoPotato
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