XRP price is currently succeeded in establishing itself It is above the $0.6 psychological level. All cryptocurrencies market take optimistic action Last month. Predicting an interesting price range for XRP, popular cryptocurrency analyst Dark Defender revealed that the cryptocurrency could reach $14.61 if the XRP/BTC pair reaches an all-time high.
XRP Could Soar 2,300%
Dark Defender’s latest analysis of XRP’s price trajectory is based on the past performance of the XRP/BTC pair against Bitcoin. A closer look at the XRP/BTC chart shared by the analyst on X shows that XRP has been underperforming Bitcoin since mid-2023. XRP fell 60%. Compared to Bitcoin Recent market dynamics have further exacerbated the poor performance for Bitcoin as it continues to struggle against various price levels. Break an all-time high.
Interestingly, Dark Defender pointed out that the price action of this pair has now reached a support line that will determine the price trajectory of XRP in the coming months. The so-called support line is characterized by higher lows since 2015 and is currently at the 0.00000914 level.
The price chart recorded a bounce against this support to induce a huge percentage break to the current high of 0.00024351. The last time a rebound occurred, XRP outperformed Bitcoin by more than 5,000% across 2017 and early 2018. “It will be a six-year awakening,” the analyst said.
We had the orange arrow and the green arrow. #XRP/#BTC pair.
We’ve reached Support, Ultimate.
that much #purple The arrow is here.
It will be a 6-year awakening.
Some people can see it and some cannot. pic.twitter.com/yyqhwjopiX
— Dark Defender (@DefendDark) March 6, 2024
Dark Defender when asked about XRP price range He said. The XRP/BTC pair only increases when XRP increases in value against BTC. In a scenario where BTC starts hovering around the $60,000 price level, a surge in XRP/BTC towards the 0.00024351 level would be associated with XRP reaching $14.61. In a scenario where Bitcoin runs Reach $100,000 If this price level is maintained, XRP could trade above $20, the same all-time high in the XRP/BTC pair.
With XRP currently trading at $0.6205, a surge to $14.61 and $20 would represent increases of 2,250% and 3,120% respectively from current price levels.
Continued bullish sentiment on XRP price?
Other cryptocurrency analysts have predicted a bullish price for XRP in the near future. For example, cryptocurrency analyst Jaydee highlighted XRP. to escape The six-year trend line could indicate further upside.
Another technical analysis using Elliott Waves theory is Dark Defender. XRP expected to reach It was $1 in March, a level not reached since May 2021.
XRP price resumes uptrend | Source: XRPUSDT on Tradingview.com
Featured image from CNBC, chart from Tradingview.com
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