Cryptocurrency analyst Dark Defender has shared insights into the price potential of XRP, suggesting that the price could rise to $18 based on Elliott Wave theory analysis. The analyst's chart illustrates when XRP might reach this double-digit price target.
XRP Price Target
According to Dark Defender, XRP is currently in the third wave. The chart he created shows that this upward move could take this cryptocurrency to $5.80. He believes that this $5 increase could happen before the end of the year.
After this increase, a correction is likely to occur, with XRP's price potentially dropping to around $4. This correction will set the stage for this cryptocurrency to rise again towards the target of $18 by mid-2025.
Expectations from other analysts
"I predict that XRP will fluctuate between $2 and $2.10 in the near future. This volatility will allow XRP to easily surpass $1.61 and reach $8." – Armando Pantoja
Ali Martinez and CrediBULL Crypto also predict that XRP will rise in price, forecasting that the price could soon reach $2. CrediBULL Crypto notes that XRP's monthly Relative Strength Index (RSI) is approaching the overbought zone for the first time in three years.
"The rising RSI indicates enhanced momentum and further upside potential. Therefore, after reaching $2, XRP is expected to move towards a new all-time high."
Cryptocurrency analyst Javon Marks has provided an optimistic outlook for XRP. He stated that after breaking the low timeframe range, XRP began signaling significant strength.
Therefore, he believes that the strong upward trend may continue above $3, while advising caution with exaggerated figures like $18, suggesting a market capitalization of nearly $1 trillion when considering the circulating supply.
With these positive developments, the price performance of XRP is seen as a noteworthy move that needs to be closely monitored in the cryptocurrency market. Closely monitoring the future price movements of XRP may be very important for investors.
