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February 28, 2024
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XRP Price Prediction: Analyst Predicts Insane XRP Rally To $3 in 6 Weeks

The post XRP Price Prediction: Analyst Predicts Insane XRP Rally To $3 in 6 Weeks appeared first on Coinpedia Fintech News

A prominent market analyst Dark Defender has predicted an astonishing 538% surge for XRP, setting a target price of $3 based on historical data and Elliott Waves theory.

Market analyst Dark Defender has recently conducted a thorough analysis of XRP, leveraging historical data and the application of Elliott Waves theory. The results of the analysis are eye-opening, as Dark Defender predicts an astonishing 538% surge for XRP, setting a target price of $3. 

According to Dark Defender’s analysis, XRP’s price movements follow a consistent pattern on a weekly basis, in alignment with Elliott Wave Theory, which suggests that price trends follow a wave-like pattern with five upward waves and three downward waves.

XRP Price Analysis

Dark Defender indicates that both the Elliott Waves theory and XRP’s historical pattern support a short-term price target of $3 or higher that would start approximately five to six weeks from now, following XRP’s recent breakout from an extended downtrend.

Previous analysis by Dark Defender also indicated a structure leading to $3.39 and identified August as a potential breakout month, based on the historical pattern. The completion of a regular ABC corrective wave, with Wave C showing a downward trajectory from June 13, further supported the analysis. However, Dark Defender emphasized the need for XRP to maintain above the $0.46 level.

Dark Defender warned that failure to defend the $0.46 territory could lead to an expanded Wave C, potentially pushing XRP’s price to $0.39 in the coming days. Despite short-term fluctuations, Dark Defender advises XRP holders to remain patient and optimistic, expecting an explosive surge in the future. 

The analyst has consistently set a target price of $3 or higher for XRP, as initially forecasted last month. As of now, XRP is trading at $0.4705, recovering from a recent drop to the $0.46 level observed yesterday. Over the past 24 hours, XRP has experienced a 1.28% decline.

As XRP enthusiasts eagerly await the six-week timeframe, all eyes will be on the market to witness whether the anticipated breakout unfolds and the price targets are achieved.

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