Crypto Analyst Predicts Short-Term XRP Price Rally To $18
December 11 2023 - 10:00AM
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A crypto analyst has provided some optimism regarding the XRP price
as many contemplate whether or not to continue to hold on to their
XRP tokens. This comes as the crypto token’s underperformance has
been a cause of concern to holders, with talks about a potential
manipulation resounding through the community. XRP Price To Hit $18
In The Short-Term In a post on his X (formerly Twitter) platform,
crypto analyst Dark Defender shared an interesting analysis where
he noted that XRP could hit $18 soon enough. To back up his
prediction, he noted that XRP was retesting the $0.6649. According
to him, this level is “not a joke” as it is a very crucial one. An
upward trend is expected from that price level based on his
assertions. Related Reading: Crypto Market Experts Predict
When Cardano (ADA) Price Will Cross $7 Meanwhile, Dark Defender
also shared XRP’s monthly chart in his post. From the chart, he
noted that XRP was currently above the price level of $0.6649,
which he had earlier referenced. This happening could see XRP move
close to $1. On the chart, he highlighted $0.88 and $1.05 as
targets that will be “achievable shortly.” The rally, however,
doesn’t stop there, as the crypto analyst claimed the “5 Wave EW
Structure in the Monthly Chart is still in play.” This indicator
points to XRP hitting $18.22 in the short mid-term. The journey to
$18 isn’t expected to be all smooth, as he mentioned that XRP would
face a strong resistance at $1.08. The good news is that once
XRP is able to break from that level, “it will be Kaboom,” in the
words of Dark Defender. As to how soon XRP could hit $18, the
accompanying chart suggests that this could happen between July and
October 2024. Token price falls to $0.62 | Source: XRPUSD on
Tradingview.com A Growing Frustration In The XRP Community?
Over the weekend, a pro-XRP crypto influencer, Chloe, released an X
post where she voiced her frustration at XRP’s price decline and
stated that she had “sold it all.” Before that post suggesting that
she had sold her XRP holdings, she had made an earlier post where
she seemed very displeased with XRP’s price action. Related
Reading: Bitcoin Bull Signal Returns: Exchange Supply Hits Lowest
Level Since 2017 Although Chloe later came out to clarify that she
didn’t sell any “single XRP,” her earlier posts exemplify the
growing frustration in the XRP community. At the moment, many seem
puzzled by XRP’s abysmal price action. One of them is pro-XRP legal
expert Bill Morgan, who recently questioned the reason for XRP’s
underperformance. In an X post, the lawyer stated that XRP has
failed to outperform most of the other tokens in the top 10 by
market cap despite gaining regulatory clarity. Interestingly, he
noted that XRP’s price was higher five years ago than it is now.
According to Morgan, there needs to be a better explanation for
XRP’s price movement than just “saying it follows the market.”
Featured image from CoinGape, chart from Tradingview.com
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