Cryptocurrency analyst Dark Defender (@DefendDark) has sparked discussion within the XRP community with a recent post suggesting a potential price breakout in April. His analysis focuses on the monthly chart, indicating a possible break above a historical resistance level.
Dark Defender called out the community members criticizing XRP and saying the digital asset only moves sideways. According to Dark Defender, they argue that XRP has been confined within a range of roughly $0.49 to $0.67 for a significant period.
However, this range can be interpreted as a form of resistance, where price increases have historically been met with selling pressure pushing the price back down. Here’s why Dark Defender believes April could be the breakout month for XRP.
Hey there. XRP is ready for the monthly break, which is imminent when you check the monthly time frame below.
I hear the ones; #XRP only goes sideways between $0.49, $0.58, and $0.67, right?
Yeah yeah, I think starting this Month, April, a lot of melting faces will be around.… pic.twitter.com/kqlhDEqpGy
— Dark Defender (@DefendDark) April 8, 2024
Is April the Breakout Month?
The core of Dark Defender’s prediction hinges on the potential for XRP to finally overcome this resistance in April. He believes technical indicators on the monthly chart signal a potential breakout, suggesting a more significant upward price movement.
Should the breakout occur, Dark Defender outlines potential price targets. The first target is a move towards $1, which would represent a significant increase from XRP’s price of $0.6185 at press time.
Following a potential breakout to $1, Dark Defender expects more from XRP, suggesting additional price targets of $1.88 and even $5.85. These targets reaffirm the analyst’s predictions of $1.88 and $5.85 and have bolstered the bullish sentiment in the market.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
A Look at Other Predictions
While Dark Defender’s analysis offers a bullish perspective on XRP, it’s essential to look at opinions from other analysts. For XRP, most predictions are currently bullish. Some believe XRP can reach as high as $1,000 in a few years, suggesting Dark Defender’s $5.85 target could be a breeze for XRP.
Although XRP has performed poorly since the start of the lawsuit with the U.S. Securities and Exchange Commission (SEC), the digital asset has a history of massive surges. The Most notable is its surge of over 65,000% in 2017, culminating in its all-time high of $3.84 in January 2018.
Massive surges are not new for XRP and Dark Defender’s prediction of a potential breakout in April has generated excitement within the community.
Meanwhile, another prominent analyst recently predicted that XRP could soon mirror its 65,000% surge from 2017, and predictions like these are increasing the excitement for an imminent bull run. If Dark Defender is right, April will be the month things finally turn around for XRP.
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