Analyst forecasts an imminent XRP upsurge that could skyrocket the asset by 439% to $3.39 within one week, citing historical trends.
Prominent XRP community analyst Dark Defender remains confident in XRP despite the bearish consolidation. The analyst’s latest insights into XRP suggest an imminent rally to $3.39 within one week. This projection aligns with historical trends.
Dark Defender’s recent analysis builds on a report shared by the chartist in May. Notably, citing information from a weekly chart, he identified a pattern followed by XRP in 2021 and a multi-year downtrend observed since the drop in April 2021.
As The Crypto Basic reported, the analyst predicted that XRP could rally to $3.82 anytime from May to August. This projected rally was contingent on XRP’s ability to break out of the multi-year downtrend. XRP was trading at $0.4273 at the time.
The Latest Analysis
Three months after the initial analysis, Dark Defender remains confident in his projection. The analyst’s latest post now forecasts a rise to $3.39 in one week. Although this is slightly lower than the initial $3.82 prediction, it is still a lofty target.
Hi all. We set a historical pattern 3 months back & this week, #XRP stands fantastically at the same price level now.
I know it sounds crazy but check below.
The wave trend indicates we can still touch $0.58 & hit $3 (NFA) in the same week, says historical pattern.
— Dark Defender (@DefendDark) August 14, 2023
At its current price of $0.6285, XRP is 47% up from its value at the time of the initial forecast. Dark Defender emphasized that XRP is now trading at the same projected price level during the initial analysis. This pattern suggests that the asset could be following the forecasted trend.
This reality triggered confidence that the forecast would materialize. As a result, he predicted further dips, leading to the $0.58 territory. However, Dark Defender believes XRP would skyrocket to the $0.89 resistance point following this dip.
He called attention to this resistance in the previous analysis. According to him, the $0.89 position is the major resistance stopping XRP from breaking the multi-year downtrend. He noted that XRP could finally break this point, soaring above the downtrend.
XRP Could Rise 439%
Following this breakout, the analysis projects that XRP would skyrocket further to $1.7394. This price point could serve as the launchpad for a rally to the ambitious $3.39 price target.
XRP is trading for $0.6285 at the time of reporting, having relinquished the $0.63 position. At this point, a rally to $3.39 would require a massive 439% increase. Due to the short timeframe projected for this surge, several market participants remain skeptical.