Peter Smith
● Crypto analyst The Great Mattsby recently tweeted that XRP looks like it's setting up for another strong monthly close above a critical Fibonacci level—a move that could signal a major shift in the long-term outlook. Based on the chart he shared, XRP is hovering around $2.58 right now, holding comfortably above that 0.886 Fib level at $2.25. What's interesting here is that this level has flipped from acting as resistance to now serving as support—a textbook bullish sign.
● "There's nothing better than previous resistance flipping to support," The Great Mattsby wrote, hinting that XRP's recent price action is likely to "make a lot of bears angry." It's clear that sentiment is shifting among traders who see the sustained hold above $2.25 as proof that the upward momentum is back after months of sideways movement.
● Technically speaking, XRP's monthly chart is looking pretty solid. The last several candles have closed higher, forming what looks like a continuation pattern following the mid-year rally that briefly touched the $3.31 area. If there's a pullback, the next major support sits around $1.61 at the 0.786 Fibonacci level. On the flip side, a clean break above $3.10–$3.30 could potentially unlock new multi-year highs.
● The Fibonacci zones shown in the chart back up this bullish setup. When price holds above the 0.886 line like this, it usually means the market is transitioning from a correction phase into an expansion phase. History shows that this kind of setup—especially when combined with high-volume closes and improving sentiment—often leads to strong rallies.
● The bigger picture is also working in XRP's favor. With increased legal clarity in the U.S. and renewed attention from institutional investors, XRP has strengthened its position in the crypto market. When you combine that with the strong technical signals, there's a real possibility we could see further upside momentum as we head deeper into 2025.
Peter Smith
