In a recent YouTube video posted on Nov. 17, top crypto market analysts indicated XRP may be on the verge of significant upside price action.
In the video, Crypto analyst, Blockchain Backer, pointed to Bitcoin chart formations suggesting a major breakout above $40,000 is imminent. As Bitcoin often leads crypto markets, this could precede increases across altcoins like XRP.
Another analyst, Credible Crypto noted a falling open interest as Bitcoin grinds upward, indicating shorts being forced to cover due to persistent buying pressure. The analyst believes Bitcoin is now “ready to continue our journey up to $40,000 plus very soon.”
XRP-focused chart analyst, Dark Defender accurately predicted XRP hitting 60-70 cents on November 13th. He now sees XRP touching 87 cents to $1.05 “in the very short term,” stating “XRP is close to a parabolic move.”
A parabolic move refers to a dramatic, vertical price increase over a short timeframe, driven by surging demand. This price action is common in crypto bull markets.
Furthermore, Dark Defender cites XRP holding key support around 60 cents despite recent volatility. Other analysts also see a decisive break above 66 cents as a bullish signal potentially marking the end of the current downtrend.