A Korean analyst says the XRP channel pattern suggests a $5 target.

crypthub

about 2 hours ago

Channel Structure and Price Outlook

Analyst Ninedex sees XRP potentially reaching $20 if it repeats the 2018 breakout from the upper edge of its long‑term channel. The token trades around $1.34, down from a recent $1.54 peak, but remains within a multi‑year ascending channel that has guided its price since 2013. A breakout above the channel’s upper boundary could trigger a sharp rally beyond typical expectations.

Support Zone and Historical Context

Ninedex identifies a strong support area just above $1.40, aligning with the Fibonacci 0.382 level and the lower boundary of the channel’s middle layer. This zone was built between 2022 and 2024 and has held for eight years, anchoring XRP’s status as a major asset. Historically the coin moved from the lower to the middle channel in 2017 and briefly entered the upper channel in early 2018 before settling back.

Technical Indicators and Targets

The weekly stochastic has risen from 15 to 20, a level historically signaling an oversold condition for XRP. Meanwhile the MACD has formed a golden cross, pushing the oscillator into positive territory and suggesting upward momentum. Ninedex’s primary price target is $5, with a secondary scenario of $20 if the token breaches the upper channel again.