Cryptocurrency analyst Dark Defender (@DefendDark) has issued a bullish forecast for XRP, predicting a substantial price surge. According to Dark Defender, XRP is forming a daily bull flag, a bullish technical pattern on the daily chart, indicating a potential breakout and subsequent rally.
XRP has experienced a notable recovery since its decline to a two-year low of $0.39. The price has steadily increased since July 8, culminating in a three-month high of $0.6366 on July 17. Following this peak, the asset has consolidated within a narrow price range.
Dark Defender believes that XRP is on the verge of breaking out from this consolidation phase. If successful, the analyst anticipates a 70.2% price increase from the recent low, with an initial target of $0.66.
Overcoming the $0.66 resistance level is crucial in XRP’s journey. Dark Defender has previously identified how the $0.66 level could send XRP to $0.93 and also identified additional resistance at the $0.87 level on the four-hour chart. Despite these potential obstacles, the analyst maintains an optimistic outlook, suggesting that XRP can surpass the resistance.
Based on that analysis, Dark Defender believes that XRP could reach $1.03, suggesting the $0.66 level is just a starting point for XRP.
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How High Can XRP Climb?
If XRP successfully breaks through these resistance points, Dark Defender envisions an even more substantial price increase. The analyst has outlined potential targets of $1.88, $5.85, and even $18.22. The latter price levels represent unprecedented territory for XRP, and achieving them would require sustained bullish momentum.
It is important to note that these are ambitious price targets. However, Defender’s bullish sentiment is shared by other market analysts. Some analysts have set targets as high as $100, and others have set even more bullish targets, suggesting XRP is headed for unprecedented levels soon.
While the cryptocurrency market is volatile, and past performance does not indicate future results, Dark Defender’s analysis provides a potential roadmap for XRP’s price trajectory. Numerous factors could lead to an XRP surge. Dark Defender believes the final ruling will come in August, and potentially pave the way for the highly anticipated XRP surge.
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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