Crypto analyst Dark Defender has highlighted an vital indicator that might trigger the XRP worth to repeat its legendary price move from 2017. The analyst joins a number of different analysts who’ve steered that XRP might replicate its worth positive aspects from that bull run.
How XRP Price Could Replicate 2017 Price Gains
Dark Defender claimed in an X (previously Twitter) post that XRP’s present sample is an identical to the 2014-2017 sample and can stay so except the $0.3917 “Point of Control” isn’t protected. The analyst defined that this Point of Control (POC) refers back to the worth degree the place most trades have taken place since 2014.
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Therefore, with XRP sustaining this POC since 2014, the crypto token might replicate its historic worth acquire from 2017, when it rose by 61,000% in 280 days. In one other X post, Dark Defender additionally claimed that XRP’s present sample was an identical to the 2013-2017 sample he had beforehand highlighted. Considering this, he acknowledged, “It will be an absolute art to see $5.85 and above.”
Dark Defender additionally highlighted one other indicator that reveals XRP’s bullish prospects. He famous that the crypto token’s every day and weekly Relative Strength Index (RSI) is at “the bottom and oversold.” He added that the month-to-month RSI is on the identical degree as March 2020 and November 2022.
Crypto analyst Mikybull Crypto additionally acknowledged that XRP would possibly replicate its 2017 rally, given the present worth motion path the crypto token is following. He predicted that the crypt token might rise above $4 if this have been to occur. Mikybull Crypto added that he was assured about this state of affairs taking part in out for XRP as a result of the sentiment around the crypto token is bleak.
Meanwhile, crypto analyst Javon Marks additionally alluded to XRP’s worth acquire when he recently predicted that the crypto token might witness a 39,000% worth rally and rise to $200. He made this prediction based mostly on his Full Logarithmic Follow-Through indicator, which he famous was supported by historic information.
XRP To Still Rise To As High As $18.22
In his most up-to-date X post, Dark Defender again predicted that XRP might rise as excessive as $18.22. He acknowledged that the crypto had hit the most recent Fibonacci help of $0.3917 (additionally the POC) of the 5 Elliot Waves, with a goal of $1.88, $5.85, and $18.22 now in sight. He warned that any motion beneath $0.3917 might alter the construction he has been observing.
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Meanwhile, the crypto analyst talked about {that a} bullish reversal is on the playing cards for XRP, alluding to the truth that the crypto token’s weekly RSI hit the bottom factors, thereby signaling that XRP is an oversold space.
At the time of writing, XRP is buying and selling at round $0.42, down over 4% within the final 24 hours, in accordance with data from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com
