The XRP Price Breaks Short-Term Target, Signals Bullish Trend
The XRP price has recently experienced a significant uptrend, catching the attention of investors and analysts. According to crypto analyst Dark Defender, XRP has surpassed the short-term price target of $0.66, indicating a bullish signal for the digital asset’s trajectory. Dark Defender tweeted, “We set $0.66 as a very short-term target, and now it’s broken in the 4-hour time frame. Congrats, who believed in it.”
Next Near-Term Price Target for XRP
Dark Defender emphasizes the importance of XRP maintaining its position above this level to confirm its bullish trend. The analyst suggests that there may be back-tests to $0.66 daily due to oversold conditions on the daily time frame. Additionally, Dark Defender expresses a strong bullish sentiment across various time frames, including the daily, weekly, and monthly time frames.
In terms of future price predictions, Dark Defender sees a 270% rally to $1.88 as the next short-term target. However, this is contingent upon XRP closing above $0.6649 first, which is necessary to reach a crucial Fibonacci Level of $1.88. Fibonacci levels are commonly used in trading to identify potential levels of support and resistance.
Long-Term Price Targets for XRP
If XRP breaks the $1.8815 level, Dark Defender sets a long-term target of $5.8563. The analyst explains that once this level is breached, the focus will shift towards reaching $5.8563 as the next target for XRP’s potential growth.
Dark Defender’s analysis includes an Elliott Wave pattern chart that illustrates specific price targets for XRP. This pattern consists of impulse and corrective waves, with XRP currently in wave 3. The analyst sets targets for this wave using Fibonacci extension levels, with the potential start of wave 3 marked by the recent break above $0.66. The ultimate target for wave 3 is above the 2.618 Fibonacci extension level at $5.88.
For wave 4, Dark Defender anticipates a corrective wave that will likely see the price retrace from the highs of wave 3 but not fall below $3.5. Wave 5 is expected to push the price up again, completing the Elliott Wave cycle. If Dark Defender’s prediction holds true, XRP could potentially reach a long-term target of $18.22, representing an increase of over 2,500% from current levels.
Hot Take: XRP Price Surges, Bullish Momentum Expected to Continue
The recent surge in the XRP price has exceeded short-term targets and indicates a bullish trend for the digital asset. With strong support across various time frames and potential price targets set by Dark Defender, XRP shows promise for further growth in the near and long term. However, it is important to monitor key levels and maintain price stability to confirm the bullish sentiment. As always, remember to conduct thorough research and consider market conditions before making any investment decisions.
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