Crypto analyst Dark Defender has forecasted a notable rise in XRP’s price, predicting it could soar to $8 and detailed the potential triggers for such a dramatic surge. In his optimistic outlook, Dark Defender hinted at an even more spectacular high of $18 for the cryptocurrency.
Drawing parallels to the past, Dark Defender mentioned on X (formerly known as Twitter) that XRP could reach $8 if there’s a repeat of the 2017 bull run. During that time, XRP experienced an extraordinary rally of 61,000% over 280 days, peaking at its current all-time high of $3.84. The analyst expressed a strong belief that the XRP community is on the cusp of experiencing a similar bull run, describing the sentiment as a “deja vu of 2017.”
He further elaborated that, should such a run occur, the Fibonacci level of 361.80% would set an upper target of $18.22 for XRP’s Wave 3 impulsive move. The accompanying chart suggested that this projected rise to $8 or potentially $18 could happen between October 2023 and early 2025.
Dark Defender’s analysis of the current price action shed light on the critical support levels needed for XRP to achieve this meteoric rise. He noted that XRP has been consolidating in a range between $0.3917 and $0.6649. Additionally, he pointed out that on the weekly time frame, the relative strength index (RSI) dips for XRP have paralleled price dips, with a weekly RSI Golden Cross in place.
Highlighting the significance of the $0.6649 price level, Dark Defender stressed it as a “crucial marker” above the weekly Ichimoku clouds, which must be achieved before XRP can initiate its anticipated parabolic run. The analyst also identified $0.5286 and $0.4623 as critical support levels for XRP holders to monitor.
Another crypto analyst, Egrag Crypto, shared an even more bullish outlook, suggesting that XRP could enjoy a 5,000% price gain and rise to $27. For a more conservative estimate, he projected a 2,400% increase, bringing the price to $17. His predictions were based on Bullish Hammer Candle Stick formations, historically linked to significant price gains for XRP.
This isn’t the first time Egrag Crypto has predicted a rise to $27. In November of the previous year, he had similarly marked this price level as a plausible target, especially if XRP replicates its 2017 bull rally.
Currently, XRP is trading around $0.55, reflecting a decrease of over 2% in the last 24 hours, according to data from CoinMarketCap. The cryptocurrency continues to struggle to maintain its price, as shown in charts from Tradingview.com.
