Renowned crypto analyst Dark Defender has provided a detailed analysis of XRP’s recent performance. In a recent X post, the analyst highlighted that XRP has shown a notable increase of 67.56%, rising from $0.3814 to $0.6378. This sharp increase has been tracked on a 4-hour time frame structure update.
The analysis suggests that the current ABC wave pattern could take around two days to complete and might extend to $0.499. The analyst also identified a minor resistance level at $0.87, with more significant resistance at $1.03. As of now, XRP is trading at $0.5834, showing a 6.39 drop in the last day.
Another respected analyst, Crypto Yoddha, has expressed optimism about SUI’s market position. In a recent X post, Yoddha stated, “Feels like the bottom is in! Now the recovery starts.” This sentiment comes after a period of declining prices, indicating that SUI might have reached its lowest point and could now be poised for a rebound. The recovery phase is anticipated to begin soon, with the potential for significant gains as the market adjusts.
As of press time, SUI is trading at $0.8493, marking a 2.25% decline in the past day. Despite this recent dip, SUI has shown resilience with a 10.98% increase over the past 7 days. SUI has maintained a robust 24-hour trading volume of $137,254,757, indicating sustained investor interest and market activity.
Another cryptocurrency, WIF, is showing signs of bullish momentum. According to the analyst, World of Charts, WIF is running at 25% profit and testing crucial horizontal resistance levels. At press, WIF is trading at $2.47, indicating a 12.60% upward movement in the last 24 hours.
The analyst highlighted that WIF could target the descending channel trendline once this resistance is cleared. The overall outlook for WIF remains exceptionally bullish, with projections sending it towards the $6 mark.
These analyses draw attention to cryptocurrency’s volatility and the profit-making potential of particular currencies. As investors and traders look for these cryptocurrencies in their search for recovery phases, key resistance levels need to be monitored carefully.
Market conditions should be considered, and investors should investigate the issues on their own before making an investment. The cryptocurrency market is quite unstable, and one needs to take certain approaches and be more cautious while investing in it.
