Crypto Analyst Predicts XRP Price Surge of 2,300% to $14.6
In recent months, the XRP price has been steadily rising, and now it has managed to surpass the psychological level of $0.6. This bullish action in the crypto market has caught the attention of Dark Defender, a popular crypto analyst, who has made an interesting prediction for XRP. According to Dark Defender, if the XRP/BTC pair reaches a record high, the price of XRP could skyrocket to $14.61.
To make this prediction, Dark Defender analyzed the past performance of XRP against Bitcoin on the XRP/BTC pair. The analyst discovered that XRP has been underperforming against Bitcoin since mid-2023, with a decline of 60% since August 2023. Recent market dynamics have further exacerbated this underperformance, as Bitcoin continues to reach new all-time highs.
However, Dark Defender identified a support level on the XRP/BTC chart that may determine the future trajectory of XRP’s price. This support level has shown the formation of higher lows since 2015 and is currently at the 0.00000914 level. The price chart indicates a bounce over this support, which could lead to a breakout to the current high of 0.00024351.
The last time such a bounce occurred, XRP outperformed Bitcoin by over 5,000% throughout 2017 and early 2018. Dark Defender believes that if history repeats itself, it will be a significant awakening for XRP after six years.
When asked about the specific price point for XRP, Dark Defender clarified that the XRP/BTC pair can only increase when XRP appreciates against BTC. Assuming Bitcoin hovers around the $60,000 price level, a surge in the XRP/BTC pair to the 0.00024351 level would correspond to XRP reaching $14.61. If Bitcoin reaches $100,000 and maintains that price level, XRP could trade for over $20 with the same all-time high on the XRP/BTC pair.
Currently trading at $0.6205, a surge to $14.61 and $20 would represent increases of 2,250% and 3,120%, respectively, from the current price level.
Other crypto analysts have also predicted bullish price points for XRP. For instance, Jaydee, another crypto analyst, highlighted XRP breaking out of a six-year trendline, suggesting further upside potential. Additionally, Dark Defender previously predicted XRP to reach $1 in March, a level it hasn’t attained since May 2021.
While these predictions may offer hope to XRP investors, it’s important to note that investing in cryptocurrencies carries risks, and conducting thorough research is crucial before making any investment decisions.