Market analyst Cryptoes points out the current difficulties for XRP as it deals with a significant resistance zone. As XRP faces a critical moment, experts highlight the need to overcome the $0.6345 hurdle for a potential 14% increase.
XRP needs $0.6345 close for 14% surge
XRP rebounded from its recent low of $0.5973 on November 30, rising 4.2% to $0.6226. However, facing resistance at $0.6348, Cryptoes emphasize how important it is for XRP to maintain its positive momentum and highlight the critical need for a close above $0.6345.
Meanwhile, CryptoS gist Two important price ranges on the chart are the green bar, a strong resistance area between $0.6226 and $0.6345, and the blue bar, which extends from the November 9 high of $0.7078 to the November 7 high of $0.7160, targeting $0.72.
However, this analysis is based on the formation of a cup and handle pattern on the daily chart, indicating a temporary pause before a return to the uptrend.
Cryptoes say XRP’s journey to $0.72 depends on a successful close of the $0.6345 area. XRP is currently trading at $0.6293 and remains within the green resistance zone, but would need a 14.4% rise to reach $0.72.
XRP’s Bullish Return to Sentiment
In a similar observation, the Chartists EGRAG Notes XRP returns to what he calls an “emotional state” as it approaches $0.6345. This state includes a wider price range from $0.63 to $0.70.
Previously,
EGRAG using a 4-hour chart highlights how important it is for XRP to close within the sentiment multiple times to maintain positive momentum. A move beyond this could activate a “macro range” positioned above $0.74, as previously reported by Coinpedia News.
Investor interest is growing amid broader market gains, with XRP up 1.74% in the last 24 hours and with 24-hour trading volume surging to $1,122,238,771. XRP’s market cap is now close to BNB’s current valuation.