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XRP Price To Hit $8 If It Holds This Crucial Support, Top Expert Predicts

Top experts predict XRP price surge to $8 highlighting crucial support levels, which have fueled market optimism amid a 5% dip in Ripple's native crypto today.
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XRP Price To Hit $8 If It Holds This Crucial Support, Top Expert Predicts

Highlights

  • A top expert predicts a potential XRP price rally to $8, sparking market optimism.
  • Another expert also echoed a similar sentiment, highlighting crucial support levels for Ripple's native crypto.
  • Despite these bullish outlooks, XRP price fell nearly 3% today.

XRP price continues to dip today, slipping over 5%, but it appears that the experts remained bullish on the future trajectory of the coin. For context, despite the recent dip, a top market expert hinted towards a potential rally for Ripple’s native crypto to $8, sparking market discussions. Echoing similar sentiment, another analyst also set a target of between $5 and $10 for the asset, further fueling market sentiments.

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Experts Remain Bullish Despite XRP Price Consolidating Below $3

Top market analyst Dark Defender sees a major XRP price surge on the horizon despite the recent pullback. In a recent post on X, he shared an updated daily structure of the crypto, emphasizing that the $3 level remains a crucial breakeven point.

According to him, Ripple’s native crypto is consolidating under this resistance and positioning itself for a breakout. He outlined a five-wave pattern, where the third wave targets $5.85, bringing the $8+ mark into play soon after. Dark Defender added that the bullish momentum is “closer than ever before.”

Source: Dark Defender, X

This technical projection has sparked discussions among traders, with many keeping a close watch on the asset’s support levels. The expert noted that maintaining stability at this stage is key to fulfilling the bullish outlook.

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Another Expert Echoes Similar Sentiment

Another expert XForceGlobal shared a macro XRP price action analysis, echoing a similar sentiment to Dark Defender. He highlighted the importance of protecting a key low to confirm a sustained uptrend.

Meanwhile, he pointed out inefficiencies in lower timeframes but asserted that a 50% bounce could trigger the completion of the fifth wave in his Elliott Wave count. His analysis aligns with the $5-10 target, though he remains cautious about distribution patterns.

While he acknowledged that Ripple’s native crypto has not yet met all criteria for a wave 1-2 development, he believes market conditions still favor an upward move. The post-triangle thrust measurement supports his original projection, making the $8 mark a realistic possibility if key levels hold.

Source: XForceGlobal, X
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Factors That Can Impact The XRP Price Ahead

XRP has recently recorded a sharp decline, especially after XRP Ledger (XRPL) faced downtime earlier this week. This appeared to have weighed on the investors’ sentiment, but the optimistic outlooks of the experts indicate a strong recovery ahead.

In addition, market participants are keeping close track of the XRP lawsuit developments, with the US SEC reassigning its top crypto litigator Jorge Tenreiro to the IT department. Notably, Tenreiro is one of the key figures in the long-running Ripple Vs SEC case and many other crypto cases. Having said that, this development indicates a potential shift in the crypto regulatory environment in the US under Trump’s presidency.

On the other hand, recently a top lawyer revealed when the US SEC can start dropping the crypto cases. This revelation has further bolstered the market sentiment. Considering all these aspects, a potential settlement or dismissal of the Ripple SEC lawsuit can significantly impact the XRP price ahead. In addition, a potential approval of an ETF for the crypto could also trigger a massive rally in the asset’s price.

How’s Ripple’s Native Crypto Performing?

XRP price fell over 5% during writing and traded at $2.40 while its one-day trading volume was down 25% to $7.37 billion. Notably, the crypto has touched a 24-hour high and low of $2.55 and $2.36, respectively. Further, XRP Futures Open Interest also fell 5% to $3.62 billion, reflecting the cautious stance of the investors.

Meanwhile, despite these gloomy movements, the experts have provided some relief to the holders. Besides, it also reflects the bullish outlook of the market participants towards the long-term potential of the crypto.

However, despite that, investors should tread cautiously when making their bets. For instance, a recent price analysis for Ripple’s native crypto hinted towards a potential crash to $1, which has also sparked discussions in the market.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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