The XRP price has become one of the strongest performing crypto assets of the recent period, reaching a market value of $100 billion. Crypto analyst Dark Defender made some predictions about the future of XRP, making some predictions about how its price could potentially shape up. Here are all the details about these developments…
XRP Price Could Rise to $5 Level
On Saturday, the XRP price climbed to $1.93, surpassing its 2021 high of $1.92. According to CoinGecko data, the last time XRP reached $1.93 was in January 2018, just after it hit its all-time high of $3.40. This development occurred almost seven years ago. Crypto analyst Dark Defender has stated that XRP’s price could rise to $5 in its next phase. This comes after XRP surpassed its initial target of $1.8, which also led to the crypto reaching the $100 billion market cap mark. With the initial target achieved, XRP has the potential to climb to the $5.8 level that Dark Defender noted. Interestingly, the chart also hints at the possibility of a rally to $18. Dark Defender emphasized the expectation of a parabolic rally to reach this level and used the Elliot Wave theory to show how XRP could rise to $18. The chart predicts that this rally will be followed by a strong move called “Wave 5.”
Dark Defender noted in another X post how critical the $1.8815 Fibonacci level is in the short term. He noted that the XRP price returned to this level after reaching $1.9508 and emphasized the importance of staying above this level. The expert stated that XRP should stay above $1.8815 for at least three candles. As a first step, it was stated that XRP should stay at this level for 12 hours. Then, it is stated that a 3-day close should be made above this level. If continuous closes occur above this Fibonacci level, it is stated that this level can be confirmed as a strong support and XRP can reach new highs.
Amid its recent rally, XRP has surpassed BNB to become the fifth-largest crypto asset by market cap. Dark Defender predicts that XRP could overtake Solana to take fourth place and at some point surpass Ethereum. Likewise, analysts Egrag Crypto and Mikybull Crypto have also made bold predictions about XRP’s future.
Egrag Crypto noted that if the XRP price rises above the $2 level, the FOMO (Fear of Missing Out) effect will kick in. If history repeats itself, it is possible for XRP to trade between $20 and $27. Referring to the 2017 bull run, Egrag stated that XRP could make huge gains on its way to a new all-time high (ATH) of $3.8.
Crypto analyst Mikybull Crypto similarly suggested that XRP could return to its 2017 rally sentiment. Mikybull also noted the possibility of a pullback to a new high of $10 after XRP reaches $2. In another post, the analyst urged market participants to watch XRP before it breaks a new ATH, noting that major rallies could occur again.
These predictions for XRP suggest that the crypto asset could make a significant splash in the market and attract the attention of investors.