The XRP price has been on a roll, with a gain of around 90% in the last seven days, providing a bullish outlook for the crypto. This bullish momentum might just be getting started as XRP is nearing the legendary 4.236 Fibonacci level, suggesting that a rally to $9 is possible. 

XRP Price Approaches 4.236 Fib Level With A Rally To $9 Possible

In a TradingView post, Crypto analyst Lane McMurtrey revealed that the XRP price is near the 4.236 Fibonacci level and predicted that the crypto could top at $9.4 following this development. The crypto analyst further explained why this level is critical when watching out for market tops for the crypto. 

According to the crypto analyst, in Fibonacci-based technical analysis, the 4.236 extension often represents a psychological and mathematical exhaustion for bullish moves. Lane McMurtrey stated that historically, when an asset hits this level, it leads to major profit-taking and exponential volatility. It also marks the beginning of a market reversal. 

For the XRP price, the crypto analyst noted that this level is calculated based on its market cap, not just the price. McMurtrey remarked that the market cap hitting 4.236 is often the ultimate signal of euphoria and the time to prepare an exit strategy. He predicted that the top could be around $9.4, providing market participants with insights into what levels they should start securing profits. 

The XRP price has significantly surged in the last couple of weeks and flipped USDT to become the third-largest crypto market cap. XRP is up over 300% year-to-date (YTD), but McMurtrey’s analysis shows that the crypto still has much more room to rally to the upside since he predicts that XRP will top at around $9. 

Price Could Still Go Much Higher

Crypto analysts like Dark Defender and Behdrak have predicted that the XRP price could go much higher and reach double digits. Dark Defender predicts that XRP will rally to $18 sometime next year. Meanwhile, Behdark predicts that the crypto could reach as high as $28 based on his Elliot Wave theory analysis. 

In a recent X post, Dark Defender provided an update on his $18 XRP price prediction. He stated that $2.1322 and $1.8815 are the next critical support levels to watch out for as XRP reached $2.9202, which happens to be a Fib level. The crypto analyst expects the crypto to range between $2.92 and $2.13 in the short term before another rally to the mid-target level of $3.9993. 

At the time of writing, the XRP price is trading at around $2.62, up over 2% in the last 24 hours, according to data from CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com

Leading crypto exchange Binance issued a crucial update on crypto Notcoin (NOT), Radiant Capital (RDNT), KAIA, and Aerodrome Finance (AERO) on Wednesday. Notably, the digital asset trading platform revealed that it is delisting certain pairs for two of the mentioned assets while expanding support for the other two. In turn, crypto market participants are speculating over the future price actions of these four coins amid a broader bull market.

Binance Issues Updates on NOT, RDNT, KAIA, and AERO

In an official Binance announcement dated December 4, the crypto exchange giant revealed that it is delisting NOT/BNB and RDNT/BTC on December 6 at 03:00 UTC. This decision by the exchange comes primarily to “protect users and maintain a high-quality trading market.” Further, the announcement revealed that Spot Trading Bots services for the abovementioned pairs are also to be discontinued on the same date and time. Overall, the delisting chronicle has raised severe concerns among investors, reducing the assets’ market visibility.

Simultaneously, in another announcement, the crypto exchange behemoth revealed that it is expanding trade offerings for KAIA and AERO tokens. The exchange is launching KAIAUSDT and AEROUSDT perpetual contracts on December 4 at 14:00 and 14:15 UTC, respectively. Users remain primed to enjoy 75x leverage trading these tokens. Overall, these enhanced trade offerings spark investor optimism, providing the assets with enhanced market visibility.

The leading cryptocurrency exchange‘s announcements on all four assets have set off mixed investor sentiments regarding prices. While the enhanced offering paves the path for further gains, the discontinuation of support has raised bearish sentiments.

How Are The Coins Delivering?

Despite Binance’s delisting announcement, RDNT price was up 13% and is sitting at $0.105. Its 24-hour low and high were $0.08658 and $0.1059, respectively. Even NOT price gained 7% to $0.009623. Its 24-hour low and high were $0.008376 and $0.009651, respectively. These tokens have defied usual market sentiments, although market watchers continue to monitor them.

Besides, KAIA price soared 2% intraday to reach $0.3573. Its 24-hour low and high were $0.2692 and $0.3754, respectively. AERO price witnessed gains worth 16% in the past 24 hours and is currently trading at $1.92. Its intraday low and high were $1.57 and $1.85, respectively.

Altogether, the rising actions could be the effect of a broader Q4 bull market. Nevertheless, market watchers continue to keep these coins on the radar for further shifts.

Also, it’s noteworthy that Binance announced delisting BAND, GTC, AVA, and other tokens in BTC pairs in another similar chronicle. The crypto exchange’s announcements appear to have a highly influential stance and remain much-eyed in the industry,

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.