Top analyst predicts 6,000% XRP price surge, names critical levels to watch – Times Tabloid

According to analyst Dark Defender (@DefendDark), XRP is on the verge of a potentially dramatic price increase with a prediction of as much as $36.76. This prediction is backed by the Elliott Wave Theory, a method that tracks price patterns in financial markets to predict future movements.

The current wave structure, as identified by Dark Defender, places XRP in the third wave of a five-wave sequence. The third wave is usually the strongest. Key price objectives based on Fibonacci levels include $1.88, $5.85, $18.22, and the final target of $36.76.

Signals from important technical patterns

One of the main indicators supporting this bullish scenario is the recent Dragonfly Doji pattern observed on XRP’s monthly chart. Known for heralding a potential trend reversal, this pattern suggests that XRP may have established a robust support level at around $0.40.

Another important technical indicator is the MACD (Moving Average Convergence Divergence) on the monthly chart, which has turned bullish, according to Dark Defender. The MACD crossover, where the short-term moving average crosses above the long-term moving average, is a strong signal of increasing bullish momentum and suggests the possibility of a sustained rally.

Notably, XRP also moves within a relatively narrow range, as shown by its Bollinger Bands. These bands narrow, which often precedes a significant price move.

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Resistance levels and possible breakouts

XRP’s path to higher prices will likely be influenced by its ability to overcome certain resistance levels. The first notable resistance is at $0.66. If XRP manages to break this level, the price could quickly rise to $1.03, according to analysts.

Dark Defender points out that the $1.03 level is of particular importance as it represents a major psychological and technical barrier and is located right above the Ichimoku cloud – a key indicator of market sentiment during the month.

XRP is trading at $0.5946, up 2.75% in the last 24 hours. XRP is still trading at the levels it reached before the final decision in the XRP lawsuit, disappointing many investors.

However, Dark Defender pointed out that XRP’s price has been primarily driven by its technical patterns rather than external factors such as litigation developments. This technically driven momentum suggests that XRP’s future price action will be closely tied to these identified levels and patterns.