XRP Set for Potential Surge, Analyst Predicts $5.85 and Beyond

Crypto analyst Dark Defender has shared an optimistic forecast for XRP, predicting that the cryptocurrency is poised for significant price increases. This comes as XRP attempts to maintain its support level at $2.42, with indicators suggesting the asset could be gearing up for a substantial breakout.

XRP has recently seen a positive shift in its price action, with the value climbing to $2.56 over a span of seven days. Although it faced resistance and temporarily dipped, it rebounded after finding support at $2.36, initiating a new upward trend. This movement aligns with typical market behavior, but more importantly, technical analysis reveals that the asset has managed to convert a downward resistance trendline into support at $2.36.

As the trend continues to develop, Dark Defender forecasts that XRP is on track for a rise to $2.75 in the short term. However, the analyst notes that the $2.55 level could pose some challenges, as the price was previously rejected there. Despite this, Dark Defender remains confident in XRP’s future, describing its current setup as “excellent.”

In the longer term, the analyst’s projections get even bolder. Dark Defender believes that XRP could soar to $5.85, surpassing its all-time high. Yet, this is just part of a larger, more ambitious outlook. Using exponential Fibonacci levels and Elliott Wave theory, he suggests that XRP might eventually reach $77.7 in its current cycle, with a potential peak over $100 in the final stages. According to his analysis, maintaining a key support level of $2.3951 could trigger a move towards a price range between $18 and $23. This forecast is built on a combination of chart patterns, volume trends, and historical data, all of which point toward an imminent rally.