MEXCXRP Price To $1.3 By August 2023? Analyst Predicts Significant Breakout
Dark Defender, a pseudonymous cryptocurrency analyst, recently shared their predictions for XRP’s price trajectory on Twitter. With a focus on key resistance levels and technical indicators, Dark Defender suggests that XRP is poised for a significant breakout by August.
XRP Price Analysis
In a Twitter thread, Dark Defender shared his bullish predictions regarding XRP’s price movement. The analyst noted that XRP successfully broke the $0.4696 resistance level, confirming their previous expectations.
Upon analyzing the daily and monthly charts, analyst emphasized the importance of the $0.50 price point as a significant milestone for XRP. They believe that breaking this level holds massive significance in reaching a major resistance point of $1.3 and potentially surpassing it.
He also highlights the historical and technical significance of the $0.50 threshold. While it could act as a potential sell-out point, he expressed optimism that once XRP surpasses $0.50, it will signal proximity to the $1.3 target.
Long-Term XRP Prospects
Another analyst reflects on the SEC lawsuit that has had a significant impact on XRP’s price action. The analyst acknowledges the historical predictions of XRP reaching prices as high as $20 to $30 in 2020, which ultimately did not materialize due to the regulatory challenges faced by Ripple.
What contributes to the analyst’s positive sentiment? He highlights the thriving development updates, user activity, and growing number of use cases on the XRPL (XRP Ledger) behind the many reasons to be bullish on XRP.
The analyst argues that despite skepticism, XRP possesses substantial underlying value and potential, with the market cap of Bitcoin and Ethereum serving as examples of what could be achieved.
The recent predictions by Dark Defender and another analyst shed light on the positive future trajectory of XRP. Currently, XRP’s price has experienced a notable 2.108% surge within the past 24 hours, reaching a value of $0.4729623.
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