On Wednesday, October 25, a prominent cryptocurrency analyst Dark Defender revealed that the price of XRP will go parabolic in the future, highlighting how it is going to happen and when it is expected to happen.
Crypto Analyst’s XRP Price Projection
In the Dark Defender X post, there are two crucial support levels and three resistance levels for the digital asset, which include $0.52 and $0.46 for the support levels, while the resistance levels are $0.66, $1.88, and $5.85.
According to him, the XRP price could be on its way to surpass the $1 mark if it manages to break through the $0.66 resistance level. And when this happens, the next resistance level will be $1.88.
The analyst’s recent projection presents a 210.64% price surge if the XRP price breaks through the $1.88 resistance level, which will see the cryptocurrency potentially heading toward the coveted $6 mark.
One interesting thing about the analyst projections is the fact that his projections are based on an examination of the XRP’s weekly market trajectory over the past two years.
According to the chart posted by Dark Defender, the trends that were evident prior to the July surge seem to be resurfacing, suggesting a potential bullish run for XRP between 2024 and 2025.
So far, the XRP analyst is not the only one who believes in a potential price for XRP. Several other experts have shown increased credence about the XRP’s potential price surge this year.
In September, Wells Fargo manager Shannon Thorp predicted the price of XRP could go as high as $500, presenting a bullish concept for the cryptocurrency.
Another prominent figure in the crypto space who has expressed his optimism about the XRP price potential is CryptoInsight, drawing comparisons to the Bitcoin fractal from 2017. This is because the question that has been swelling among the crypto community is whether XRP will mirror the 2017 Bitcoin fractal in the coming weeks.
Leaving the result open-ended, he speculated that there is a possibility that XRP will outperform following a five-year period of consolidation.
According to CryptoInsight, this is because most of the cryptocurrencies now basically began their bull market after surpassing their previous peak, but the XRP seems to have plummeted due to the SEC’s lawsuit on Ripple being dropped.
However, a recent rally has shown a significant 13% surge in the price of XRP over the past week, with a trading volume of $2.3 billion. The cryptocurrency is currently trading at $0.55 as of the time of writing.
Featured image from AltcoinsBOX, chart by Tradingview.com