Since the beginning of 2024, XRP’s price has fallen by about 2.5%, while other top cryptocurrencies have gained around 60% during the same time. Despite this underperformance, XRP remains a prominent player in the crypto market, prompting optimism among analysts for its future trajectory.
Renowned cryptocurrency trader Dark Defender expects XRP’s price to surge to $0.93 or even $1, citing key technical indicators behind this bullish forecast.
In a recent analysis, crypto trader Dark Defender shared promising insights on XRP’s price movement, indicating a potential bullish trend ahead.
According to Dark Defender, XRP has recently closed above crucial Fibonacci levels, with the daily close consistently exceeding $0.6044 for 3 consecutive days. This development suggests a strong possibility of XRP reaching $0.6649 shortly, marking a significant uptick in its value.
Moreover, Dark Defender highlights the MAC-D indicator turning green, signaling further positive momentum for XRP. The trader predicts that XRP is likely to surpass $0.6649 and maintain its position above the Ichimoku Clouds, indicating a sustained uptrend.
While highlighting the importance of $0.6044 as a primary support level, Dark Defender sets ambitious targets for XRP’s price movement. Beyond $0.6649, the targets stand at $0.9327 and $1, reflecting growing interest among traders regarding XRP’s potential for substantial gains in the coming days.
While Dark Defender’s positive outlook offers hope, Ripple’s ongoing lawsuit with the SEC leaves sentiments divided. The legal dispute, overshadowing XRP, continues to impact market confidence.
Recent remarks by pro-XRP lawyer Bill Morgan add to the uncertainty. Morgan’s comment on institutional investors and the Second Circuit Court of Appeals underscores the complexity of Ripple’s legal challenges. Despite this, Dark Defender’s optimism hints at a potential breakthrough for XRP if it can overcome resistance levels.
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Currently, XRP is trading at $0.60, with a 1.96% decrease, while its daily trading volume has dropped by 16.71% to $1.21 billion.
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