$xrp
As the whole cryptocurrency market has been engaging in bullish activity over the course of the last month, the price of XRP has finally been able to successfully place itself above the psychological threshold of $0.6. Dark Defender, a well-known cryptocurrency analyst, has made a prediction about an intriguing price point for XRP. He has revealed that the cryptocurrency might hit $14.61 if the XRP/BTC pair were to achieve a record high.
The value of XRP might skyrocket by 2,300%.
The current research of XRP's price trajectory that was conducted by Dark Defender is based on the cryptocurrency's historical performance in comparison to Bitcoin on the XRP/BTC pair. After doing an in-depth analysis of the XRP/BTC chart that was published on X by the analyst, it was discovered that XRP has been underperforming in comparison to Bitcoin since the middle of 2023. Since August of 2023, the value of XRP to Bitcoin has decreased by sixty percent. Bitcoin is continuing to push against numerous price levels in order to hit a new all-time high, which has further compounded its underperformance versus Bitcoin. Recent market dynamics have further complicated the situation.
It is interesting to note that Dark Defender observed that the price action of the pair has now achieved a support, which will influence the price trajectory of XRP in the months to come. The so-called support is now located at the level of 0.00000914, and it has been exhibiting the characteristics of the construction of higher lows since the year 2015.
The price chart showed that there was a rebound above this support, which signaled the beginning of an imminent breakout of really epic proportions to the current high of 0.00024351. During the most recent instance of a bounce, XRP would go on to outperform Bitcoin by more than 5,000% for the all of 2017 and the beginning of 2018. In a statement, the analyst said, "It will be the awakening of six years."
When questioned regarding an XRP price point, Dark Defender stated that the XRP/BTC pair only grows when XRP appreciates versus BTC. That is the only time that the pair increases. In the event that Bitcoin cryptocurrency begins to fluctuate around the $60,000 price level, a spike in the XRP/BTC ratio to the 0.00024351 level would correspond to XRP hitting $14.61. With the same all-time high on the XRP/BTC pair, XRP may trade for more than $20 if Bitcoin hits $100,000 and remains at this price level. This would be the case if Bitcoin continues to hover around this level.
Will the bullish sentiment for the price of XRP continue?
Other cryptocurrency experts have forecasted that XRP would reach positive price milestones in the not too distant future. For instance, cryptocurrency expert Jaydee brought attention to the fact that XRP has broken out of a trendline that has been in place for six years, which may indicate that it will continue to go upward.
The Elliott Waves theory was used in another technical analysis conducted by Dark Defender, which forecasted that the price of XRP will hit $1 in the month of March. This is a level that it has not reached since May 2021.
