HomeNewsXRP's September Doji: Is $0.66, $1.33, $1.88, or $5.85 in Sight?

XRP’s September Doji: Is $0.66, $1.33, $1.88, or $5.85 in Sight?

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  • Following a Doji candlestick in September, analyst foresees a bullish trend for XRP with targets at $0.66, $1.88, and ultimately $5.85.
  • Overcoming key resistance points is crucial for XRP’s stride towards these bullish targets, amid positive market sentiment.

Doji Indicator: A Prelude to Bullish Run?

The closing of September saw XRP presenting a Doji candlestick, a noteworthy event which has led cryptocurrency analyst Dark Defender to prognosticate a bullish trend for XRP. This pattern, characterized by identical opening and closing prices within a specific timeframe, denotes market indecision. Essentially, during the trading period, neither the bulls nor the bears took the helm.

Specifically, XRP commenced September at $0.5107 and concluded at $0.5148, marking a nominal 0.84% ascension, thus forming a Doji candle. The positive implication of a Doji lies in its placement; being bullish if the closing price towers above the candle’s midpoint, as was the case with XRP’s September closure. Dark Defender anticipates an upcoming re-test towards the $0.66 mark, with the breach past $0.55 being a critical juncture, as it would thrust XRP above the weekly Ichimoku Clouds, thereby furnishing substantial momentum.

Resistance Overcome: Pathway to New Peaks

The chronicle to this point hasn’t been a cakewalk. XRP transcended the initial resistance delineated by a green trendline from 2021, as it closed March at $0.5380, surging by 42% within that month. Post this breakthrough, it encountered the yellow resistance trendline at $0.91 in July, following a lawsuit triumph. The overcoming of this yellow resistance at $0.66 will unfurl the pathway towards $1.33.

Dark Defender’s diagram highlights $1.33 as a significant resistance point for XRP, depicted by a violet trendline that has been imposing since 2018.

Aiming for Uncharted Territory: $5.85

The analysis elucidates that upon surmounting the violet trendline and hitting the $1.8815 target, the stage is set for a new all-time high, with $5.85 being the initial target. This trajectory is supported by an upward red trendline since 2020, acting as a support level to deter further price descents.

At the reportage time, XRP trades at $0.5231, escalating by 1.32% in the last 24 hours. The projections for a bullish “Uptober” have set a positive tone for the month. However, achieving $5.85 from this junction necessitates a colossal 1,018% increase, setting a thrilling yet challenging venture ahead for XRP.

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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628