The XRP price is gaining bullish momentum, with crypto analyst TehThomas predicting a potential 20% price increase. This optimistic forecast is rooted in the emergence of a key technical pattern known as the Golden Pocket, alongside robust support and resistance levels.
Golden Pocket Fuels Bullish Outlook for XRP
TehThomas, a TradingView analyst, highlighted that XRP is trading within a well-defined Ascending Channel on the 4-hour chart. This structure has been characterized by consistent higher highs and higher lows, indicating a strong and sustained uptrend.
The standout feature on XRP’s chart is the Golden Pocket, a critical Fibonacci retracement area between the 0.618–0.65 levels. Historically, this zone has proven to be a strong support area, often marking the beginning of aggressive bullish rallies.
XRP’s Golden Pocket also aligns with an imbalance zone—a region of unfilled liquidity where prices tend to revisit before resuming a trend. The analyst emphasized that XRP has previously bounced off this zone twice, signaling active buyer interest.
Price Predictions and Key Resistance Levels
TehThomas expects XRP to maintain its bullish structure as long as it holds above the Golden Pocket. If XRP sustains momentum, it could rally toward the 0.618 Fibonacci extension level, near the upper boundary of the Ascending Channel. This would translate to a price target between $2.8 and $2.9—a 29% increase from its current price of $2.2.
However, resistance on the 1-hour chart could trigger a short-term pullback. XRP recently faced rejection at the imbalance zone, indicating heightened selling pressure. A failure to break this zone could lead to a retracement back to the Golden Pocket on the 4-hour chart.
Conversely, a confirmed breakout from the imbalance zone would further solidify XRP’s bullish trajectory, paving the way for a strong rally toward upper resistance levels.
Short-Term Risks Amid Bullish Hopes
While the long-term outlook remains positive, the short-term resistance could temporarily stall XRP’s upward momentum. A lack of liquidity in the imbalance zone might lead to a correction before the next leg up. Traders are advised to monitor the key Fibonacci levels closely for potential breakout signals.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your own research before making any investment decisions.
Note: This article has been refined and enhanced by ChatGPT.
