Analyst Dark Defender recently analyzed the XRP price, suggesting that a major price increase could be imminent for the crypto token. Interestingly, the analyst predicts that XRP could rise to $18 when this parabolic move occurs.
How will XRP price rise above 18 USD?
Dark Defender stated in an X (Twitter) post that XRP price could rise to $18.22 when Wave 3 occurs. He believes that Wave 3 will initially see the XRP price rise from $1.88 to $5.85 and then possibly continue the move to $18 thanks to the Fibonacci levels, “which can scale in levels multiplier”.
He also mentioned that the usual ABC correction has completed while noting that the only thing that could “damage the current balance is the possibility of wave C extending.” The accompanying chart shows that he is referring to XRP possibly falling back to $0.391. A decline to that extent could hinder the realization of Wave 3 goals.
However, Dark Defender claims that XRP staying above $0.528 would make this less likely. Meanwhile, the crypto analyst revealed that he will “discuss the possibility of a Wave 4 retracement and the possible completion of Wave 5” once the market reaches those Wave 3 targets. He previously outlined how Waves 1 and 2 ended at prices of $0.932 and $0.436, respectively.
Wave 1 occurred in July 2023 when Judge Analisa Torres ruled that XRP itself was not a security, after which the token rose to $0.90. On the other hand, Wave 2 closely followed Wave 1 as XRP lost momentum shortly after, falling to as low as $0.39 in the process.
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