XRP has staged a significant recovery in the last few days, following a prediction by prominent crypto analyst Dark Defender (@DefendDark) that the coin would soon reach $1.88.
While XRP has not yet reached the predicted target price, it has shown positive momentum and is currently trading at $0.5228, showing a 9.39% increase over the past 24 hours.
Dark Defender’s analysis is based on Fibonacci retracement levels, which are used to identify potential support and resistance zones. According to Dark Defender, the $0.3917 level was a critical support level for XRP, and a bounce from this level could signal a significant upward trend.
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The analyst’s prediction appears to be aligned with the price action of XRP. The coin almost fell below this level in early July 2024 and has been on an upward trajectory since then. This confirmation has bolstered the faith of many in Dark Defender’s predictions, and the analyst has laid out a path that the digital asset might follow.
XRP’s Potential Trajectory
Dark Defender highlights what he described as a God Damn Bullish Bar on the weekly chart of XRP. This bar represents a significant price increase, following a period of consolidation. The analyst believes that this bullish bar is a sign of renewed momentum for XRP.
The analyst believes that the $0.6649 level is a key resistance level that XRP needs to break through to continue its upward trend and potentially reach these targets.
If XRP can break above $0.6649, the next target according to Dark Defender is $1.88. This is the level that the analyst predicted XRP would reach by July 14, 2024. However, as mentioned earlier, XRP has not yet reached this target.
Dark Defender believes XRP could climb to $5.85. He highlights this as Wave 3 of the current Elliott Wave pattern XRP is undergoing. However, he poses an intriguing outcome, suggesting that Wave 3 has a final target of $18.22, representing a 3,300% increase from the current price.
If XRP can reach the first target at $1.88, Dark Defender predicts a correction to $3.09 before the digital asset continues its upward trend.
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It is important to note that Dark Defender’s prediction does not guarantee future price movements. The cryptocurrency market is highly volatile and influenced by various factors, including regulatory changes, news events, and overall market sentiment.
However, with the excitement in the community following the anniversary of the court ruling that determined XRP’s security status, investors expect big things for XRP, which could be the start of a big move.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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