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The ongoing Ripple and SEC lawsuit, as well as community expectations on the XRP network, continue to create significant pressure. Despite the recent market downturn, the XRP community has been harboring dreams of profitability for a long time and highlighting opportunities for the price to recover. Not long ago, an analyst made an overly optimistic and perhaps unrealistic prediction that XRP could surge by 3000% and reach $18. This prediction caught the attention not only of XRP investors but also the entire crypto market. Let's take a closer look at how the price could potentially increase by 3000% according to the analyst's perspective.
Will XRP Price Rise?
XRP is trading at a relatively good level at $0.5211 after a weekly increase of over 2%. However, despite this increase, the area where XRP has been trapped for years has emerged after a general price decrease.
Ripple's XRP Token, despite experiencing a remarkable surge in a very short period of time in March, became one of the cryptocurrencies that most clearly reflected the downward trend in the market and quickly pulled back and returned to its starting point. In addition, a cryptocurrency analyst referred to this situation as the last price drop before the XRP price increase.
Analyst named Coinskid stated that there could be a decline to $0.40 based on a five-wave price movement before a potential rise in XRP price.
According to the analyst, how much will XRP be?
Dark Defender, who attracts attention with his analysis on XRP, made a prediction indicating 3000% after conducting an analysis on XRP/USD charts in his monthly time frame review. The analyst highlighted a significant bull flag pattern that could trigger a sharp increase in price before consolidations occur.
According to the comment made by Dark Defender, this bull flag formation can occur in different time frames, including monthly sections, three-month periods, and even six-month periods.
Dark Defender showed support for the analysis he made with the flagpole and Fibonacci extension level. According to the analyst, it is possible for the XRP price to initially rise to $5 with a target of $1.88 and eventually move up to $18.23.
This is not investment advice.
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