Analyst Dark Defender, a prominent figure in the XRP community, maintains unwavering confidence in the digital asset’s future despite recent bearish consolidation. Building upon his previous analysis, Dark Defender predicts an imminent rally for XRP, projecting a surge to $3.39 within just one week. Interestingly, this projection aligns closely with historical trends, adding weight to the forecast.
Analysis Built on Previous Findings
Dark Defender’s latest insights stem from a report he shared back in May, where he highlighted a pattern observed in XRP’s behavior during 2021. This pattern intersected with a multi-year downtrend that commenced after a significant drop in April 2021.
Utilizing this information, the analyst previously predicted a potential rally for XRP, anticipating a price target of $3.82 that could be reached between May and August. Notably, XRP was valued at $0.4273 at the time of the initial forecast.
Read Also: Top Analyst Forecasts XRP Price Surge to $11, Says $1.5T Market Cap is Attainable
Revised Projection and Current Position
Three months later, Dark Defender stands by his forecast, now projecting a rise to $3.39 within the span of a week. Although this revised figure is slightly below the original prediction, it remains a substantial target for XRP.
At the time of the prediction on the 14th of August, XRP was trading at $0.6285. This represents a 47% increase from its value at the time of the initial forecast and reaches the projected price level highlighted in the initial analysis. This alignment with the previously identified trend bolsters confidence in the forecast.
Hi all. We set a historical pattern 3 months back & this week, #XRP stands fantastically at the same price level now.
I know it sounds crazy but check below.
The wave trend indicates we can still touch $0.58 & hit $3 (NFA) in the same week, says historical pattern.
Jeez. pic.twitter.com/byPwgriN8c
— Dark Defender (@DefendDark) August 14, 2023
Breaking Resistance and Prospects for Further Growth
Dark Defender emphasizes the significance of the $0.89 resistance level, a notable obstacle preventing XRP from breaking free from its multi-year downtrend.
In his previous analysis, he drew attention to this resistance point and highlighted the potential for XRP to finally surpass it, propelling the asset higher. He predicts that following possible dips, XRP will surge towards the $0.89 resistance, and once broken, it will soar above the downtrend.
Read Also: Analyst Highlights Four Developments That Would Send XRP Price Up To $10
A Potential 440% Increase
In the event of a successful breakout, Dark Defender’s analysis foresees XRP skyrocketing to $1.7394, acting as a launchpad for a more ambitious rally toward the $3.39 price target. Notably, this would require a staggering 440% increase from its current trading position of $0.6285. Given the short timeframe projected for this surge, some market participants remain skeptical, questioning the feasibility of such a swift climb.
Please note: This information is based on the latest analysis available and represents historical patterns and projections. It is important to approach investment decisions with caution and consider multiple factors, consulting financial experts for personalized advice.
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