As a seasoned Crypto Analyst with years of experience, I, Dark Defender, confidently predict that the XRP analyst, much like a phoenix rising from the crypto-verse, I, Dark Defender, believe that if the 2017 bull run repeats, I am confident that the price of XRP could rise to an astounding $8 and potentially even reach heights $18.
Crypto analyst Dark Defender has predicted that the XRP price could rise to $8 and explained what could spark such a parabolic rally for the crypto. As part of his bullish prediction, the crypto analyst also revealed what could lead to XRP rising to $18.
XRP Price To Rise To $8 If Repeat Of 2017 Bull Run Occurs
Dark Defender forecasted on his former Twitter post that the value of XRP could potentially reach around $8 if the conditions similar to the 2017 bull market recurred. During that period, XRP experienced a remarkable surge in price by about 61,000% within 280 days, reaching its all-time high (ATH) of $3.84
The cryptocurrency expert expressed a strong belief that another price spike like the one seen in 2916, predicting that the XRP community may be experiencing a “repeat” of the price surge of 2017, as they are positioned weeks ahead of what’sweeekly reminiscent of the XRP bull run
As an analyst, I noted that if a pattern similar to the one we’re currently observing persists for XRP, the Fibonacci level of approximately 361.80% above its current price, which translates to around $18.22, is predicted to serve as the upper target for Wave 3 of its impulsive move. Referencing the provided chart, this potential surge to roughly $8 and potentially $18 is anticipated to unfold some time between October of this year and early 2025
The crypto expert additionally offered insights into the current price trends of XRP and emphasized essential support points that it must maintain if it’s to reach this extraordinary peak. Firstly, he pointed out that the cryptocurrency has been experiencing a period of consolidation, with values fluctuating between approximately $0.3917 and $0.6649. In the weekly chart, the price dips of XRP have mirrored its relative strength index (RSI) dips. Moreover, it’s stated that the weekly RSI Golden Cross has already occurred
Once more, the Dark Defender emphasized the significance of the price point at $0.6649. He believes this level, sitting above the weekly Ichimoku clouds, is a “vital milestone” that needs to be reached before XRP embarks on its dramatic upward trend. Furthermore, he pointed out that $0.5286 and $0.4623 serve as important support levels for XRP investors to monitor closely
XRP Could Rally By 5,000% And Rise To $27
Cryptocurrency expert Egrag Crypto has given a more optimistic forecast for XRP‘s future value, estimating it could see a 50-fold increase and reach $27. As an alternative, more modest projection, he anticipates a potential 2,400% rise to $17. These predictions are based on the significant price increases traditionally associated with Bullish Hammer Candle Stick patterns in XRP’s past performance
This isn’t the first time Egrag has predicted that XRP could rise to as high as $27 in this bull run. In November last year, he mentioned that this price level was a “plausible” target, especially if the crypto repeats its 2017 bull rally.
Currently, as I’m typing this, XRP is approximately valued at $0.55. In the past 24 hours, it has decreased by more than 2%, based on information from CoinMarketCap
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2024-09-05 03:40