On Wednesday, October 25, a prominent cryptocurrency analyst Dark Defender revealed that the price of XRP will go parabolic in the future, highlighting how it will happen and when it is expected to happen.
XRP Price Projection from Crypto Analyst
The XRP analyst recently contacted X (formerly Twitter). part his predictions and optimism about the XRP price goes parabolic and how it will happen.
In the Dark Defender
According to him, XRP price could be on its way to cross the $1 mark if it manages to break the $0.66 resistance level. And when this happens, the next resistance level will be $1.88.
The analyst’s recent projection presents a 210.64% price increase if the XRP price breaks the $1.88 resistance level, potentially pushing the cryptocurrency towards the coveted $6 mark.
An interesting aspect of analyst projections is the fact that his projections are based on an examination of XRP’s weekly market trajectory over the past two years.
According to Dark Defender’s chart, the trends already visible before the July surge appear to be resurfacing, indicating a possible bullish run for XRP between 2024 and 2025.
So far, the XRP analyst is not the only one who believes in a potential price for XRP. Several other experts have shown more confidence in XRP’s potential price increase this year.
In September, Wells Fargo executive Shannon Thorp predicted the price of XRP can go up to $500which presents a bullish concept for the cryptocurrency.
Another prominent figure in the crypto world who has expressed optimism about the price potential of 2017 will reflect. fractal in the coming weeks.
He left the result open and speculated that there is a possibility that XRP will outperform after a five-year consolidation period.
According to CryptoInsight, this is because most cryptocurrencies have now effectively entered their bull market after surpassing their previous peak, but XRP appears to have plummeted as the SEC’s lawsuit over Ripple was dropped.
However, a recent rally has one significant increase of 13% in the price of XRP over the past week, with a trading volume of $2.3 billion. The cryptocurrency is currently trading at $0.55 at the time of writing.
With the recent growth of XRP, the cryptocurrency appears to have surpassed some of the leading altcoins in the crypto market, such as Solana (SOL) And Chain link (LINK).
Featured image of AltcoinsBOX, chart by Tradingview.com