In a recent post on X, analyst Dark Defender highlighted XRP’s promising movements. Over the past 24 hours, the token has been forming a daily bull flag, indicating a potential for significant upward momentum.
XRP has seen a remarkable recovery. After dipping below $0.39, a nearly two-year low, the cryptocurrency has been on an uptrend since July 8. It first reclaimed the $0.50 mark and then reached a three-month high of $0.6366 on July 17. Following this surge, the token entered a phase of price correction and consolidation, trading between $0.59 and $0.62 over the past week.
XRP’s Road Ahead
Dark Defender anticipates a breakout from this pattern soon. At the time of writing, XRP has reached a new daily high of $0.6129, aligning with Bitcoin’s upward momentum as it nears the $70,000 mark.
Dark Defender predicts a 70% surge from XRP’s recent low, initially targeting $0.6649 before a significant push toward $1. This $0.66 level has been a tough barrier, but the analyst expects the token to overcome it during the breakout. Additionally, he identified a secondary resistance point at $0.87 on the 4-hour timeframe but remains confident these hurdles will soon be cleared.
Looking ahead, Dark Defender has set ambitious targets for XRP. In the short term, he aims for $1.88. On a longer scale, he envisions $5.85 and even $18, levels previously unseen for the token. Overcoming the identified barriers could pave the way for these unprecedented price targets.
Other market observers share this optimism. Some believe that the token recapturing its previous all-time high of $3.84 would create the momentum necessary for more ambitious price discovery.
As XRP continues to build momentum, traders and investors will be closely watching for a breakout. If Dark Defender’s predictions hold true, the token could be on the brink of a significant rally, potentially reshaping the landscape of the cryptocurrency market.