TradingView analyst TehThomas has noted that XRP price is currently navigating an Ascending Channel, which could pave the way for a potential 20% upward shift. In the 4-hour timeframe, XRP has consistently respected this Ascending Channel, generating higher highs and higher lows—an important signal of an ongoing rally.

Particularly noteworthy is the Golden Pocket’s presence in XRP’s price action. This Fibonacci retracement area is commonly used to pinpoint potential support and resistance levels. It signifies an abrupt reversal in a cryptocurrency’s trend, heralding a potential aggressive rally.

TehThomas has suggested that XRP’s current Golden Pocket coincides with an imbalance zone, a sector of unfulfilled liquidity that prices generally revisit before resuming movement. The Golden Pocket for XRP is located between the 0.618 – 0.65 Fibonacci retracement level—a zone where the price often finds robust support before sustaining the trend.

As long as the XRP price maintains above the pivotal Fibonacci retracement level, which also serves as a critical resistance, the crypto’s bullish structure is likely to persist. If the bullish momentum continues, TehThomas anticipates XRP price to rally to a target between $2.8 to $2.9—a 29% price rise from XRP’s current price of $2.2.

However, TehThomas warns of short-term resistance on the 1-hour timeframe, which could trigger a significant pullback before the next upward leg. A confirmed breakout from the 1-hour imbalance timeframe could bolster XRP’s bullish momentum, aiding its projected move towards the Ascending Channel’s upper levels. But a failure could disrupt this bullish structure, causing a deeper correction toward lower support levels.

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