Optimism surrounding the price of XRP is high, with top market analysts predicting an impending bullish run this year.
According to the Analyst, known on X as Dark Defender, the XRP/BTC Relative Strength Index (RSI) is currently at the same spot it was in the 2017 and 2021 bull cycles. According to him, this indicates that a major run is brewing this year.
XRP community members have expressed concerns over the past few weeks about the relative stagnancy of the coin compared to its peers. Nonetheless, the frustration from some of these XRP investors is gradually wearing off.
Analyst Gives New XRP Target
As an analyst with an interest in the XRP community, Dark Defender wades into some of the discussions that matter in the ecosystem.
In one of his recent posts on X, the analyst noted that while the focus is on On-Demand Liquidity (ODL) sales or Ripple’s programmatic sales of XRP, the digital currency is already preparing for the surge.
Dark Defender marked the pivotal point at $0.6649, a level XRP must flip. According to him, if the asset manages to breach this point, it might drive the price toward the short-term high of $2.
Great discussions on ODL or programmatic sales of #XRP are ongoing and created significant FUD where I had no impact.
Meanwhile, XRP preparing for the surge.
Just see the $0.6649 level & how quickly it escalated towards an all-time high and the $2 level previously.
All will… pic.twitter.com/IFnSYc6HFG
— Dark Defender (@DefendDark) February 18, 2024
Besides, the analyst is optimistic that a rally toward its previous All-Time High (ATH) of $3.1 can also not be ruled out.
XRP has showcased milder growth this year, rising from a low of $0.4903 to a high of $0.5785 in the past month. At the time of writing, XRP is worth $2.16 atop a 2.12% growth in the past 24 hours. With the encroaching bullish growth, the implication of the Dark Defender forecast might be resurfacing.
XRP Price Predictions
Besides the $2 target for 2024 projected by Dark Defender, top analyst EGRAG CRYPTO has also predicted a potential 7,000% surge for XRP, drawing on key technical setups, as reported earlier.
While XRP has the use case to pull this growth, the timeline remain the major controversy that shows the differences in most analyst’s forecast.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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