Analyst Predicts Potential Upsurge for XRP

Analyst Ali Martinez suggests a potential upward movement for Ripple (XRP), with a target ranging between $0.63 and possibly reaching $0.65. Martinez shared this viewpoint in a post on X, attributing it to observations from the Tom DeMark (TD) Sequential.

However, this optimistic outlook comes with a condition, as per Martinez. XRP must close above $0.57 for the prediction to be considered valid. The TD Sequential, used to identify bullish or bearish exhaustion with a 6 to 9-count price bar, indicated seller fatigue in XRP’s case, signaling a potential bullish reversal with red bars on the charts.

Despite this positive interpretation, the 4-hour timeframe depicted a bearish scenario, particularly near the $0.53 support level. If buyers fail to curb the selling pressure, XRP’s price could experience a short-term decline to $0.52. Additionally, insights from the Relative Strength Index (RSI) indicated previous unsuccessful attempts to sustain a bullish momentum.

The decisive factor for XRP lies in demand, acting as the catalyst for potential movements. Should the RSI reading witness a further decline, there’s a possibility of the token sliding down to $0.50. However, maintaining at least $0.54 or surpassing the $0.55 resistance level could propel the price back to $0.57, a zone of notable demand.

A breakthrough above $0.57 becomes pivotal, potentially paving the way for XRP to reach $0.63. Conversely, if XRP faces rejection at $0.55, it might consolidate within the $0.52 to $0.54 range.

Related: Former Ripple Director’s Timelines for First XRP ETF

Meanwhile, signals from the Awesome Oscillator (AO) align with a downward trend, transitioning from a positive to a negative region. Continued appearance of red histogram bars could signify a downward trajectory for the token.

In an extremely bearish scenario, where XRP falls below $0.57, a potential retest of $0.48 may occur. Conversely, a highly bullish condition increases the likelihood of a trendline breakout, potentially propelling XRP towards $0.65.