Bitrabo Editorial
An analyst in the crypto space has projected a massive 2,900% surge in the price of XRP, the native token of the XRP Ledger, reaching $18. Despite previous negative sentiments and price drops, the analyst remains optimistic about XRP’s potential and has outlined an ambitious timeline for this significant price increase.
Predicted Timeline for XRP Price to Reach $18
In a post on X (formerly Twitter) on July 29, a crypto analyst known as ‘DarkDefender’ shared a bullish forecast for XRP hitting $18 in 2024. The analyst based this prediction on a three-month candle pattern from July to September 2024.
Dark Defender’s analysis points towards XRP reaching $18, marking a substantial 2,900% surge within the specified timeframe. This optimistic projection is underpinned by a key technical pattern observed in the XRP price chart.
Referring to his price chart spanning from 2014 to 2026, Dark Defender identified a symmetrical triangle pattern, which signifies decreasing market volatility and hints at a potential price breakout for the cryptocurrency.
Within the chart, the analyst labeled the downward trendline as “Ultimate Resistance” and the upward one as “Ultimate Support.” Despite XRP dropping below the support line, it managed to hold firm at the 23.60% Fibonacci retracement level of $0.3917.
Furthermore, Dark Defender highlighted the 70.20% Fibonacci level at $0.6649 as an immediate resistance, which could indicate a bullish trend if XRP surpasses this level. The 100.0% Fibonacci level at $0.9327 symbolizes a full recovery for the cryptocurrency from past declines.
The analyst also disclosed a mid-range target of $1.8817 at the 161.80% Fibonacci level, suggesting the potential for a post-breakout rally in XRP and signaling further bullish trends in the market. Additionally, the 261.80% Fibonacci level at $5.879 paints a powerful bullish scenario with substantial market support.
At the core of his analysis, Dark Defender pinpointed the 361.80% Fibonacci level at $18.2364 as the most optimistic target for XRP, requiring significant shifts in the market and a complete turnaround from bearish sentiments.
Positive Sentiment Surrounding XRP’s Potential in the Market
Alongside Dark Defender, other crypto analysts have maintained a positive outlook on the future price trajectory of XRP. Despite its historical price volatility and the ongoing legal battle between Ripple and the SEC, many analysts view XRP’s current price of $0.64 as a crucial resistance level that could potentially be breached.
A crypto analyst, Javon Marks, recently announced that XRP has broken out of a 2,351-day resistance and foresees a significant price surge in the cryptocurrency, setting an ambitious target of $150 with a projected climb of 21,000%.