Ripple’s price has entered a consolidation phase known as the ‘Kangaroo Market,’ indicating a potential strong bullish movement. Analysts suggest that if key resistances are broken, XRP could first reach the $8.5 to $13 range and even surge to $27. Currently, Ripple is trading above a crucial support level at $0.888 Fibonacci ($2.30), signaling the start of an upward trend. Crossing the $2.30 to $3.37 range could pave the way for a significant price hike. Historical data shows that in 2017, Ripple had a remarkable surge after breaking the $1.618 Fibonacci level. If this historical pattern repeats, surpassing the $2.236 Fibonacci level could propel Ripple’s price to a mesmerizing range of $27 to $222. Ripple is currently trading at around $2.35 with key resistances at $2.50 and $2.70. The MACD and RSI indicators suggest a decrease in the bullish momentum. Failure to break the $2.50 resistance may lead to a drop to $2.20. Despite short-term challenges, analysts believe Ripple is gearing up for a significant bullish move. The ‘Kangaroo Market’ phase could be the starting point of a historic rally if historical patterns and technical analyses materialize.
