Dark

<p>The price of XRP, the digital asset of the Ripple payment network, has been consolidating between key Fibonacci levels in recent weeks. According to prominent crypto analyst Dark Defender, this current trading range r<a href="https://twitter.com/DefendDark/status/1712754807600021703?t=6zdKR1Uon29GYINxdWqiqA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">epresents</a> the most strategically important moment for XRP since May of 2017.</p>
<h2 class="wp-block-heading" id="critical-0-46-support-level-in-focus">Critical $0.46 Support Level in Focus</h2>
<p>In particular, Dark Defender is closely watching the $0.46 support level that has repeatedly rejected price declines. He believes this support zone will continue to hold, given how significant it is from a technical perspective. Failing to maintain the $0.46 level could be damaging for <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> in the short-term.</p>
<p>However, Dark Defender expects XRP to hold this floor. It aligns with the 2020 support established earlier and has proven resilient through multiple tests already in 2022. For these reasons, he anticipates XRP will stay range-bound between $0.46 and $0.53 until the next major move triggers.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-1024x576.png" alt="" class="wp-image-355037" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-1024x576.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-767x431.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-1536x864.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-2048x1151.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-267x150.png 267w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-623x350.png 623w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-334.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="consolidation-preceding-breakout">Consolidation Preceding Breakout</h2>
<p>In Dark Defender’s view, the longer XRP trades sideways in this range, the closer it gets to eventually breaking out and continuing its upside momentum. Periods of consolidation are common before cryptos embark on new bull runs. This tightening price coil suggests the market is gearing up for a powerful breakout.</p>
<p>The legal proceedings between Ripple and the SEC have also bolstered the long-term investment case for XRP. With recent rulings going against the SEC, optimism is growing that Ripple can ultimately prevail. This would remove the regulatory overhang that has weighed on XRP for over a year.</p>
<p>For now, the spotlight remains on the key $0.46 support level as Dark Defender and other analysts eye XRP’s next major move. The expectation is for consolidation between $0.46 and $0.53 to continue, with Ripple’s native asset maintaining this floor that is so critical from a technical perspective.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/analyst-reveals-the-ripple-xrp-price-level-to-watch-closely-its-the-most-important-since-2017/">Analyst Reveals the Ripple (XRP) Price Level to Watch Closely: It’s the ‘Most Important’ Since 2017</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Analyst Reveals the Ripple (XRP) Price Level to Watch Closely: It’s the ‘Most Important’ Since 2017

Table of Contents

CaptainAltcoin

Other articles published on Oct 13, 2023

Binance’s KYC Policies Under Scrutiny After Hamas Accounts Suspended

David Schwartz responds to Hoskinson’s take on SEC’s ETH decisions

Iraq Ready To Join BRICS After Banning Cash Withdrawals in US Dollar

What Will Happen If the SEC Does Not Appeal the Spot Bitcoin ETF Decision?

Blockchain Gaming Records $600 Million Inflows, Down 38% from Last Quarter: Here’s More

Humana Inc. (NYSE: HUM) Stock Near $500, Will Fresh Buying Begin?

Join our free newsletter for daily crypto updates!