XRP is trading around $1.34 as of Monday, down nearly 13% from its May 14 high of $1.54. But pseudonymous Korean analyst Ninedex sees a setup that could push the token well above $3 for the first time since 2018 — and possibly much higher.
The multi-year channel since 2013
Ninedex identifies a multi-year ascending channel for XRP that has held since 2013. The key support zone sits around $1.40, which aligns with the Fibonacci 0.382 retracement level. XRP moved from the lower channel to the middle channel during the 2017 crypto rally and briefly entered the upper channel in January 2018, above $3. That brief peak remains the all-time high.
Oversold bounce and golden cross
The weekly stochastic indicator for XRP bounced from 15 to 20 points. Ninedex calls that a historically rare oversold condition. Meanwhile, the MACD formed a golden cross on its EMA lines, with the oscillator moving into positive territory. That combination suggests upward momentum is building — at least on a technical basis.
Price targets: $5 and $20
Ninedex's primary price target for XRP is $5, based on a potential move to the upper boundary of the middle channel. The more aggressive scenario: if a breakout pattern from 2018 repeats, XRP could reach $20 by breaking into the upper channel. That would require a repeat of the parabolic move that briefly pushed XRP above $3 — a big if, but the pattern is there on the chart.
For now, XRP's ability to hold above $1.40 will be the first test of Ninedex's thesis. If that support breaks, the oversold bounce may fizzle. If it holds, traders will watch for a push toward the $1.54 high — and then, maybe, the upper channel.
