Analyst Sets XRP Price Target At $6.5, These Dates Are Key

The XRP price is once again drawing the attention of analysts, with bold predictions suggesting a potential surge to $6.5. With momentum indicators flashing bullish signals and a key date highlighted, XRP could soon see a 200% rise from current levels to a new all-time high. A new technical analysis from ‘Cryptarch_,’ a pseudonymous market expert on TradingView, suggests that XRP is on the verge of a major price breakout to $6.5. The analyst marked an ideal entry point at $2.10, paired with a tight stop-loss at $2.00. This strategy reflects strong conviction in XRP’s bullish setup while managing downside risks. XRP Price Sets Sights On $6.5 ATH The TradingView analyst shared an XRP price chart, identifying the formation of a Descending Triangle supported by a break in the daily Relative Strength Index (RSI) downtrend. XRP’s RSI has been declining since late 2024, indicating weakening momentum. However, a recent upward cross into bullish territory hints at a possible trend reversal. Related Reading: XRP Price Eyes Recovery To $3 As Analyst Reveals How High The Price Would Be In Altcoin Season In his price chart, Cryptarch_ outlined a multi-stage move, where XRP is expected to rally upwards while bouncing across multiple resistance zones shown by the horizontal purple lines. The $2.49, $3.00, and $3.39 levels have been marked as the major resistance zones. Following the projected path highlighted by the yellow arrow on the chart, XRP is expected to first break out of the Descending Triangle before making a move toward the critical resistance zone at $3. This level holds significance, as it was the site for a major price pump on March 2, 2025 — a historical move that couldn’t serve as a strong indicator for future price action. Cryptarch_ surmised that the XRP price will likely struggle at the $3 resistance. After that, it is expected to bounce and move higher, possibly retesting current all-time highs. The goal of this bullish setup is to make $3 a strong support level. From there, XRP is projected to surge toward $6.5, with a potential upper price target of $6.82. While a higher surge would bring in better gains, the TradingView analyst suggests exiting the market at $6.5 to lock in profits safely before a major resistance zone is reached. Key Date To Watch Out For A key element in Cryptarch_’s bullish forecast for the XRP price is timing. According to his chart, Saturday, May 10, 2025, stands out as a critical date to watch. Related Reading: Forget XRP At $3, Analyst Reveals How High Price Will Be In A Few Months He marks this day as a potential inflection point, where XRP could either break above the $3 resistance zone with strong momentum or face a temporary rejection, triggering a potential pullback to $1.61. Interestingly, the Bitcoin price action also plays a major role in XRP’s future price outlook. Cryptarch_ disclosed that a breakout above $89,000 in BTC could serve as a catalyst, igniting a rally across altcoins, including XRP. It’s worth noting that Bitcoin has already cleared this critical level and is trading at $91,872 at the time of writing. Featured image from Adobe Stock, chart from Tradingview.com

Source: NewsBTC