Several analysts are expressing bullish sentiments toward XRP following its recent price surge. On March 11th, the cryptocurrency experienced a 20% increase, rising from $0.61 and briefly exceeding $0.7440, a notable deviation from recent trends.
This upswing positioned XRP among the top market gainers and might have earned it a spot on Forbes’ list of top 10 Cryptos to invest in.
According to CoinMarketCap, XRP is currently trading at $0.6991 and maintains a 6.20% weekly gain, while trading at levels last seen in 2023. Prominent crypto analysts, including Dark Defender, are highlighting the potential for significant further gains in the ongoing bull season.
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Analyst Projections: From $1.35 to an Ambitious $5.85
In a post on X, Dark Defender notes that the March 11th breakout aligned with positive signals from XRP’s 30-day candlestick patterns. The analyst emphasizes that XRP successfully cleared the vital resistance level near $0.6649.
Dark Defender believes confirmation within weekly and monthly timeframes is imminent, bringing XRP closer to the intermediate resistance target of $1.33 – an impressive 90% rally from current levels.
The analyst further predicts a potential target of $5.85 in the coming weeks. Reaching this milestone would represent an incredible 736.79% increase for XRP. Concluding his tweet, the analyst said “Expect Solid Strikes. April will be hot. Have an excellent day!”
Hi all. #XRP had the break-out yesterday, as we expected.
In the Monthly Time Frame, it is obvious the move has #started.
The huge Resistance of $0.6649 is broken in the Daily, & #confirmed
$0.6649 will be Confirmed for the Weekly & Monthly Frames.
Our targets are closer… pic.twitter.com/pgSJmfT0s6
— Dark Defender (@DefendDark) March 12, 2024
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An X user, CUTN Crypto, replying to Dark Defender’s post, expressed his doubt on the timeline the analyst predicted for XRP to get to $5.85, he said “Very unlikely. Although I could see it break all-time high and come a little lower than your target all in 2026. Just don’t like the path and timing.”
Notably, Dark Defender’s bullish outlook echoes that of other prominent analysts in the crypto space. Analyst Mikybull suggests a possible $6 price target for the cryptocurrency.
It’s crucial to remember that crypto markets are highly volatile, and these are analyst projections, not guarantees. As always, it’s essential to conduct thorough research and consider your risk tolerance before making investment decisions.
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