As XRP holders contemplate whether to continue holding onto their tokens, the underperformance of the crypto token has raised concerns within the community. Talks about potential manipulation have further added to the worries. However, amidst all the uncertainty, one crypto analyst provides a glimmer of hope for XRP’s future price.
Crypto analyst Dark Defender, in a recent post on their X platform, shared an interesting analysis that suggests XRP could reach $18 in the near future. Dark Defender points to XRP retesting the crucial price level of $0.6649, highlighting its significance. According to the analyst, an upward trend is expected from this level.
In addition, Dark Defender shared XRP’s monthly chart, indicating that it is currently trading above the $0.6649 level. This could potentially propel XRP towards the $1 mark. The analyst also identifies $0.88 and $1.05 as achievable targets in the short term.
Moreover, Dark Defender highlights the presence of a “5 Wave EW Structure” in the monthly chart, suggesting that XRP could reach $18.22 in the mid-term. However, the journey towards this target is not expected to be smooth, as XRP is likely to face strong resistance at $1.08.
The analyst believes that once XRP breaks through this resistance level, it will be a significant breakthrough. Using the phrase, “it will be Kaboom,” Dark Defender expresses optimism about XRP’s potential for growth.
According to the accompanying chart, XRP could potentially hit $18 sometime between July and October 2024. While it may take some time, this projection offers hope to XRP holders and enthusiasts.
The declining price of XRP has led to growing frustration within the XRP community. Influencers like Chloe have expressed their disappointment and, at times, even suggested selling their XRP holdings. Pro-XRP legal expert Bill Morgan has also questioned the reason behind XRP’s underperformance.
Morgan, in an X post, highlighted that despite gaining regulatory clarity, XRP has failed to outperform most other tokens in the top 10 by market cap. He further noted that XRP’s current price is lower than it was five years ago, adding to the confusion among XRP holders.
While the underperformance and potential manipulation concerns surrounding XRP have dampened the spirits of many holders, Dark Defender’s analysis offers a ray of hope. With the possibility of XRP reaching $18, albeit in the mid-term, XRP holders may find solace in the analyst’s optimistic outlook. However, it is essential to approach such predictions with caution, as the cryptocurrency market is highly volatile and unpredictable. Only time will tell whether XRP can defy its current challenges and rise to new heights.