As a seasoned cryptocurrency analyst with over a decade of experience in the financial markets, I have seen my fair share of market cycles and their unpredictable nature. However, recent developments in the XRP market have piqued my interest and led me to concur with Dark Defender’s optimistic prediction of XRP reaching $10 by the end of this cycle.
Some crypto experts, such as Dark Defender, anticipate that the price of XRP might surge to double-digit figures during this market phase. Following the labeling of XRP as a ‘Zombie’ coin by Forbes earlier, there are now indications that it is reviving.
XRP Price To Reach $10 Despite Forbes Backlash
According to the forecast by cryptocurrency expert Dark Defender, the value of XRP might escalate to around $10 within the current market trend. Moreover, using the Elliot Wave theory as his analytical tool, he predicts that the crypto could surge even higher, potentially reaching up to $18 during the next year.
Right now, XRP’s value has been significantly increasing, surging more than 200% since last month. This strong upward trend has boosted its growth by over 290% so far this year, even though it started off the year slowly and faced criticism from sources like Forbes.
According to a recent market analysis by CoinGape, there’s a strong possibility that the price of XRP could rise to its previous all-time high of $3.8 as soon as this week. Meanwhile, Dark Defender continues to stand by his prediction of $18 for XRP and offers insights on what we might see in the crypto market in the near future.
According to the cryptocurrency analyst, the levels at $1.8815 and $2.1322 are significant points where XRP might find support. He also mentioned that for a brief period, the price of XRP could fluctuate between approximately $2.13 and $2.92. If XRP manages to maintain this range, the prediction is that it may subsequently surge towards a new mid-target value of around $3.9993.
Based on the analyst’s provided chart, if XRP reaches $3.9, the projected subsequent peak could reach $5.5. These intermediate goals might be reached within this month, with the larger target of $18 not expected until next year.
A Bounce From $2.19 Will Strengthen Bullish Continuation
In a recent blog post by cryptocurrency expert, Egarg Crypto, he presented an analysis of XRP’s price movement. He suggested that if the price rebounds from around $2.1970, it could potentially reach new highs, further bolstering the ongoing bullish trend.
As a researcher, I’ve been closely monitoring the price of XRP, and my current analysis indicates a potential drop if we breach the existing level, possibly down to approximately $1.6300. Yet, optimistically, I foresee XRP still managing to surge towards double-digit figures. Previously, my prediction for XRP’s potential high was around $27.
In light of recent forecasts, there’s been a significant surge in optimism surrounding XRP. This is due to Donald Trump’s decision to nominate Paul Atkins as the potential next chair of the US SEC. Known for his supportive views on cryptocurrency, Atkins might choose to withdraw lawsuits related to crypto, such as the one against Ripple, once he takes office.
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2024-12-04 23:24