XRP enthusiasts anticipate a significant breakout as Dark Defender’s analysis projects a 538% surge to $3 within six weeks.
In an exciting development for XRP enthusiasts, Dark Defender, a reputable crypto market observer, has released an analysis pointing towards an impending breakout for the popular cryptocurrency within the next six weeks. The analysis suggests a significant price surge, projecting a 538% increase from current levels, with a target price of $3.
Dark Defender’s analysis reveals that Ripple has consistently adhered to a weekly pattern, which aligns remarkably well with the renowned Elliott Waves theory. This theory, widely utilized by analysts to predict future price movements, suggests that price trends follow a wave-like pattern consisting of five upward and three downward waves.
XRP’s historical pattern and the Elliott Wave theory both point to a short-term objective of $3 or more, according to Dark Defender’s research. In light of XRP’s recent breakout from a protracted downtrend, the anticipated wave is likely to start in about five to six weeks.
XRP Projected To Reach $3 With Historical Analysis
This projection echoes a previous analysis conducted by Dark Defender, which outlined a path toward $3.39 and identified August as the potential breakout month based on historical patterns. The prior analysis also highlighted the completion of a regular ABC corrective wave, with Wave C exhibiting a downward slope starting from June 13. Dark Defender has confirmed the completion of Wave C, emphasizing the importance of Ripple maintaining a price level above $0.46.
The analyst warns that if Ripple fails to defend the $0.46 territory, Wave C could potentially expand, leading to a price plunge to $0.39 in the coming days.
Nevertheless, Dark Defender urges XRP holders to remain patient and optimistic, as an explosive surge is anticipated. The market watcher has persistently set a target of $3 or more for XRP, initially forecasting this price goal last month.
However, it is crucial to exercise caution when approaching the market and make informed financial decisions after conducting thorough research. The analysis provided by Dark Defender should not be considered investment advice.
At the time of publication, the price of XRP is $0.4737. The price of the cryptocurrency has just increased after falling to yesterday’s low of $0.46. Despite the upswing, the price of XRP has dropped by 1.28% in the last day.
Stay tuned for further updates on XRP as the anticipated breakout approaches, potentially paving the way for significant gains in the near future.