A cryptocurrency analyst has predicted a massive 2,900% surge to $18 by XRP priceXRP Ledger's native token. Despite the previous bearish sentiment and price drops, the analyst maintains a Optimistic outlook on XRP potentialoutlining an ambitious timeline for this dramatic increase in value.
Timeline for XRP price to hit $18
In an X (formerly Twitter) mail On July 29, a cryptocurrency analyst identified as 'DarkDefender' shared a bullish projection on when XRP will hit $18 in 2024. The analyst provided an update on XRP Price based on a three-month candlestick pattern from July to September 2024.
From his analysis, Dark Defender forecasts the price of XRP to reach an ambitious price target of $18, increasing by 2,900% within the aforementioned time frame. He has based his bullish predictions on a Key technical pattern It is located within the XRP price chart.
In his chart depicting the price of XRP from 2014 to 2026, Dark Defender pointed out a single symmetrical triangle patternwhich is formed when two trend lines converge. Typically, the symmetrical triangle pattern indicates decreasing market volatility and signals the potential for a downtrend. imminent breakup in the price of a cryptocurrency.
On his price chart, Dark Defender has labeled the descending trend line as the “Maximum Resistance” and the ascending trend line as the “Maximum Support.” According to the analyst, the price of XRP fell below this support line, but maintained support at the 23.60% Fibonacci retracement level of $0.3917.
The 70.20% Fibonacci level at $0.6649 is considered an immediate resistance, which could signal an uptrend if XRP breaks out of this level. The 100.0% Fibonacci level at $0.9327 represents a complete resistance. Cryptocurrency recovery after past falls.
Dark Defender also shared his mid-range target of $1.8817, at the 161.80% Fibonacci level. According to the analyst, this level suggests the possibility of a post-breakout rally in XRP, indicating strong potential for More bullish advantages in cryptocurrency.
Additionally, the 261.80% Fibonacci level at $5,879 suggests a Powerful bullish scenario Backed by significant market support. At the core of its analysis, Dark Defender indicated the 361.80% Fibonacci level at $18.2364 as the most bullish target for XRP. It is important to note that a price increase to this level requires significant market changes and a full recovery of Bearish sentiments.
The market remains excited about XRP's potential
Including Dark Defender, other cryptocurrency analysts have remained bullish XRP Price Outlook. Despite its past price volatility and the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC), many analysts consider The current XRP price of $0.64 is a crucial resistance level that could be broken.
Cryptocurrency analyst, Javon brands announced that XRP has officially broken through a massive 2,351-day resistance. As a result, it anticipates an imminent surge in the cryptocurrency’s price, revealing an ambitious target of $150 and a 21,000% upside.
Featured image created with Dall.E, chart from Tradingview.com
