XRP Price Targets $8 as It Reaches Key Technical Levels
XRP's price action has placed it back in a technical region highlighted on its long-term chart. The token is currently trading around $1.49, down about 5.1% over the past 24 hours.
The chart compares two large consolidation structures and focuses on multi-year compression patterns, Fibonacci-derived levels, and the 50-week exponential moving average (EMA).
According to the chart, XRP formed a broad contracting formation, moved outside that structure, and is now in the retest phase. The current pullback is occurring after the larger multi-year compression was broken.
The analysis identifies approximately $1.29 as an important support region and around $1.52 as a significant resistance area, alongside the ongoing test of the 50-week EMA.
The chart projects XRP's longer-term targets using Fibonacci extension levels. The first major extension is near $2.80, followed by the 2.618 extension around $4.20 and the 3.618 level near $5.85. The upper 4.236 extension corresponds to approximately $8.00.