Crypto Analyst Dark Defender Provided detailed analysis XRP Price Trends Using the Elliott Wave Theory, the analyst revealed in his analysis what to expect from the crypto token and where its price may ultimately head.
Related Documents
XRP Could Rise to $18 in the Next Upward Phase
Dark Defender Revealed on X (formerly Twitter) post XRP is currently Third wave Based on the chart structure he shared, the cryptocurrency token is targeting $1.88, $5.85 and $18.22 in this bullish wave. The chart also indicated that XRP could hit this $18.22 price target when the third wave is scheduled to be completed early next year.
In the fourth corrective wave, XRP could fall from the expected price of $18.22 to as low as $9. However, the crypto token will see a bullish move in the fifth wave, which Dark Defenders predicts: XRP Will Hit a New High of $36.76 When the time comes. XRP Holders According to the chart, this move won’t happen until 2026, so we may have to wait a while for such a parabolic rise to happen.
Meanwhile, Dark Defender also offered some insight into what XRP’s price might be in the short term. He said that market participants can expect XRP to reach $1.03 soon if it manages to break out above $0.66. Crypto analyst RLinda also Mentioned A breakout above the $0.6 range will pave the way for XRP.
Dark Defender added that XRP’s rise above 1.03 “represents an extreme bullish zone above the Ichimoku Kinko Hyo cloud on the monthly timeframe.” The analyst also highlighted the Moving Average Convergence/Divergence (MACD) monthly indicator, noting that this has turned bullish for the coin.
External decisions do not drive the price of XRP
The dark defender made the bold claim that XRP’s price is determined by patterns and not by outside decisions. He made the statement while discussing why the outcome of the recent lawsuit between XRP and cryptocurrency exchanges doesn’t really matter. U.S. Securities and Exchange Commission (SEC) Ripple did not impact the token’s price.
It is worth mentioning that despite Dark Defenders’ claims, XRP has risen by over 18% to $0.6. Judge Analisa Torres’ rulingThis ended the incident. Between the SEC and RippleHowever, since then, the price action has cooled and the move appears to have fallen short of the expectations of many holders. Previously, the outcome of the case was expected to be one of the catalysts that could easily propel the altcoin above $1.
Related Documents
XRP holders may just have to be patient. Crypto analysts like CrediBULL Crypto Confident The settlement of the SEC’s lawsuit against Ripple paved the way for XRP to hit an all-time high (ATH). This bull market.
Featured image from Pexels, chart from TradingView
