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Market analyst Bobby A recently presented four ambitious profit-taking targets for XRP, citing four important indicators currently aligning for a bullish breakout.
The latest analysis comes on the back of the recent XRP price recovery, as the altcoin pushes above the $0.90 price territory. Notably, the report centers on expanding Bollinger Bands, critical momentum oscillators and key Fibonacci levels.
XRP Bollinger Bands and Momentum Oscillators
The Bollinger Bands, which measure volatility, show a new phase of expansion after over a year of contraction. Historically, XRP has followed similar contractions and expansions with massive price surges.
The last two instances of this pattern, in 2017 and 2020, led to some of XRP’s most notable bull runs. For context, the altcoin rallied by nearly 60,000% to hit $3.31 in 2018 and by over 700% to claim $1.96 in 2021 following previous expansions.
Interestingly, Bobby A also presented three momentum oscillators whose alignment has historically preceded XRP’s largest price moves. The Relative Strength Index (RSI) is one such indicator, showing a pattern that closely resembles its behavior during past breakouts.
Particularly, each time the RSI retested its signal line below the 50 level and then spiked upward, XRP entered a strong bullish phase. This setup occurred before the 2017/2018 breakout and also before XRP surged in 2021.
In addition, the Stochastic RSI is showing bullish signs. Historically, when the Stochastic RSI dipped below the 0 mark, retested the signal line, and then crossed above it, XRP experienced a major rally.
Meanwhile, the MACD (Moving Average Convergence Divergence) indicator strengthens the case for a bullish breakout. During previous surges, the MACD line crossing above its signal line and the appearance of bullish histogram bars marked the start of strong upward trends.
All three momentum oscillators featured these patterns at the same time in the 2017/2018 market cycle, right before XRP spiked to $3.31. Further, these signals also came up in the 2020/2021 cycle, preceding XRP’s rapid surge to $1.96.
XRP Profit-Taking Targets on Fibonacci Levels
Now, all indicators are showing the exact same signs. The alignment of these indicators is particularly noteworthy because such a confluence has only occurred twice before in XRP’s history, both times leading to monumental price increases.
Meanwhile, XRP currently trades around $0.97, up 91% this month as it stages its own uptick. XRP has immediate support at the Fibonacci 0.236 level, roughly $0.8722.
Should the rally persist, and the price reclaim the $1 threshold, it would open the door to the next resistance levels at $1.34 and $1.72, corresponding to the Fibonacci 0.382 and 0.5 levels, respectively. These are important zones for bulls to conquer before XRP can aim for higher price targets.
Bobby A predicts further upside with Fibonacci levels on the 1-month chart, which outline ambitious but attainable profit targets. He identifies the first major target at $5.3, corresponding to the 1.618 Fibonacci extension.
From there, subsequent targets include $8.52, $11.73, and $13.72, all lying within a defined “take-profit zone” on the chart. These targets suggest XRP could see exponential gains in a manner similar to previous market cycles.
Amid the upsurge, XRP is also witnessing rising volumes. key component of sustained rallies. Volume increases often signal growing interest and momentum, and this trend is now visible on XRP’s chart.