XRP 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.
- Pudgy Party Hits 750K Downloads- Expert Predicts 400% “Bull Rally” for PENGU Coin
- Pi Network Update: Team Launches Faster KYC Solution Amid Rising Complaints On Token Claim Delays
- Glassnode Data Shows Bitcoin May Drop To $105.5K This Week, Here’s Why
- Co-Founder Predicts $1,000 SOL Price as Solana Treasuries Skyrocket to $4B
- REX-Osprey XRP ETF Debuts With Record $37.7M Volume as Analyst Projects Bullish Run
- Shiba Inu (SHIB) Price Prediction: Massive SHIB Burn and 80-Week Cycle Mirroring Past Rallies: Will History Repeat?
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
