Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible

by

As an analyst with over a decade of experience in the cryptocurrency market, I find these predictions intriguing and somewhat plausible, given the current bullish sentiment surrounding XRP. Dark Defender’s analysis aligns with my own observations of the XRP price chart, and his prediction of double-digit prices seems reasonable considering the parabolic rally we saw last month.

Crypto analyst Dark Defender revealed that a weekly bull flag has appeared on the XRP price chart. The analyst further explained why XRP could hit double digits in this market cycle following this development. 

Weekly Bull Flag Appears On XRP Price Chart

In an X post, Dark Defender stated that a weekly bull flag has now appeared on the weekly XRP price chart. He noted that this bull flag had earlier appeared on the daily chart when XRP was at $0.70, as the crypto targetted the $1.88 price level, which it eventually rallied to. With this bull flag on the weekly, the crypto analyst predicted that XRP could rally to double digits. 

The chart alongside suggests a potential rise for XRP prices up to $11 as it surges out of this bullish pattern called a flag. This projected peak is estimated to occur in early 2025, somewhere within the months of January to March. Keep in mind that Dark Defender has warned investors to anticipate some fluctuations or sideways movement along the way. Nevertheless, this analyst remains optimistic about the final price objectives remaining unchanged.

Drawing from Dark Defender’s past observations, it appears that the $11 mark may not represent the peak for XRP prices in this current bull run. Instead, he projected potential gains as high as $18 for the crypto. Currently, XRP is maintaining a steady, sideways trajectory – exactly as he had cautioned might happen. In fact, XRP experienced a significant parabolic surge last month, with a price increase of an impressive 281%.

Nevertheless, the price of XRP has taken a breather this month, as it gathers strength for its upcoming surge. Previously, Dark Defender pointed out the levels at $2.13 and $2.27 as significant points to observe, as XRP fluctuates within its range. Simultaneously, the analyst identified potential targets of $3.9 and $5.5 that XRP might aim for during its next upward movement.

An “Optimistic” Target For XRP

In a recent post about X, crypto expert Ali Martinez expressed an “optimistic” viewpoint suggesting that the price of XRP could potentially reach $48.12. On the other hand, he also mentioned a more cautious estimate at $8.40 for XRP. These forecasts were made as Martinez noted that XRP appears to be underpriced following its breakout from a large, multi-year symmetrical triangle, which he pointed out in the accompanying chart.

In another discussion, he shared that the price of XRP has created three successive bull flags in its 4-hour graph. Given this, Martinez suggested that investors should anticipate a revisit to $2.25 to buy at a discount, with XRP potentially reaching $4.40 during its next surge. If it reaches $4.40, this will set a new record high (peak) for XRP.

presently, the value of XRP is approximately $2.18 per token on current market exchanges, marking a decrease of more than 11% within the past day, as reported by data from CoinMarketCap.

Read More

2024-12-11 05:10