Dark Defender, a well-known crypto analyst and trader, has made a bold prediction about the future of XRP. Based on historical price movements and technical analysis, Dark Defender believes that XRP is on the verge of a significant rally.
After reclaiming a critical support level of $0.40, XRP has shown signs of a slow rebound. The next key goal for the token is to maintain its bullish foundation by staying above the $0.425 mark.
In a recent tweet, Dark Defender used previous price patterns to predict a similar upward rise for XRP. With recent gains and a bounce at the 23.60% Fibonacci support level of $0.3917, XRP is initially aiming to break resistance at $0.50.
According to Dark Defender’s forecast, XRP is set to break out of a triangle pattern on the weekly chart, with targets at $1.88, $5.85, and $18.22. This potential breakout will be further validated by a breakout of the Ichimoku Cloud signal, which indicates a strong bullish trend for XRP.
Additionally, the RSI indicator suggests that selling pressure is decreasing and there is a possibility of a bullish price reversal for XRP.
Despite some opposing viewpoints, XRP has demonstrated resilience. As of now, XRP is trading around $0.4409, showing a 1.62% increase in the last 24 hours.
Furthermore, pro-crypto attorney Billy Morgan recently acquired XRP for approximately $0.40, indicating that some investors are becoming confident in XRP’s potential for a bullish breakout.
Overall, Dark Defender’s analysis and predictions suggest that XRP may experience a significant rally in the near future. However, it is important to note that cryptocurrency markets are highly volatile and unpredictable, so caution should always be exercised when making investment decisions.