Crypto Analyst Says XRP Price Could Rocket 2,300% To $14.6, Here’s How
09 March 2024 - 11:10AM
NEWSBTC
The XRP price has now managed to position itself above the $0.6
psychological level, as the entire crypto market waddles in bullish
action in the past month. Popular crypto analyst Dark Defender has
predicted an interesting price point for XRP, revealing that the
crypto could reach $14.61 if the XRP/BTC pair reaches a record
high. XRP Could Skyrocket 2,300% Dark Defender’s recent
analysis of XRP’s price trajectory is based on its past performance
against Bitcoin on the XRP/BTC pair. A deep dive into the XRP/BTC
chart shared on X by the analyst reveals that XRP has been
underperforming against Bitcoin since the middle of 2023. XRP has
been down 60% against Bitcoin since August 2023. Recent market
dynamics have further exacerbated its underperformance against
Bitcoin, as Bitcoin continues to push against various price levels
to reach a new all-time high. Related Reading: 14-Year Old Dormant
Bitcoin Wallet Wakes Up To Crash BTC Price Interestingly, Dark
Defender noted that the price action of the pair has now reached a
support which will determine XRP’s price trajectory in the coming
months. The so-called support has the characteristics of the
formation of higher lows since 2015 and is now at the 0.00000914
level. The price chart noted a bounce over this support to usher in
an incoming breakout of epic proportions to the current high of
0.00024351. The last time a bounce happened, XRP would go on to
overperform Bitcoin by over 5,000% throughout 2017 and early 2018.
“It will be the awakening of 6 years,” the analyst said. We had the
Orange and the Green Arrows on the #XRP/#BTC pair. We reached the
Support, Ultimate. The #Purple Arrow is here. It will be the
awakening of 6 years. Some can see, & some can’t.
pic.twitter.com/yyqhwjopiX — Dark Defender (@DefendDark) March 6,
2024 When asked for an XRP price point, Dark Defender clarified
that the XRP/BTC pair increases only when XRP appreciates against
BTC. In the scenario that BTC starts to perambulate around the
$60,000 price level, a surge in the XRP/BTC to the 0.00024351 level
would relate to XRP reaching $14.61. In the scenario that Bitcoin
reaches $100,000 and sticks around this price level, XRP could
trade for over $20 with the same all-time high on the XRP/BTC
pair. With XRP now trading at $0.6205, a surge to $14.61 and
$20 would mean an increase of 2,250% and 3,120%, respectively, from
the current price level. Continued Bullish Sentiment For XRP
Price? Other crypto analysts have predicted bullish price points
for XRP in the near future. For example, Crypto analyst Jaydee
highlighted XRP breaking out of a six-year trendline which could
mean a further move to the upside. Related Reading: Crypto Analyst
Uses Historical Data To Show When The Bitcoin Price Will Reach
$207,000 In another technical analysis using the Elliott Waves
theory, Dark Defender predicted XRP to reach $1 in March, a level
that it hasn’t attained since May 2021. XRP price resumes uptrend |
Source: XRPUSDT on Tradingview.com Featured image from CNBC, chart
from Tradingview.com
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