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Crypto analyst Dark Defender has predicted that the $XRP price could rise to $8 and explained what could spark such a parabolic rally for the crypto. As part of his bullish prediction, the crypto analyst also revealed what could lead to $XRP rising to $18.
$XRP Price To Rise To $8 If Repeat Of 2017 Bull Run Occurs
Dark Defender predicted in an X (formerly Twitter) post that $XRP would rise to $8 if a repeat of the 2017 bull run were to occur. Back then, $XRP recorded a price rally of 61,000% in 280 days to its current all-time high (ATH) of $3.84.
The crypto analyst seemed confident about this 2017 price surge happening again, stating that the $XRP community is having a “deja vu of 2017 by standing weeks in front of the $XRP bull run.”
Dark Defender added that if a similar run is in place, $18.22, the Fibonacci level of 361.80%, is expected to be the upper target level of $XRP’s Wave 3 impulsive move. From the accompanying chart, this projected move to $8 and possibly $18 is expected to occur sometime between October and early 2025.
The crypto analyst also provided an analysis of $XRP’s current price action and highlighted critical support levels $XRP needs to hold above if it is to rise to this unprecedented height. Firstly, he noted that the crypto has been consolidating between $0.3917 and $0.6649. Meanwhile, in the weekly time frame, $XRP’s relative strength index (RSI) dips have formed a parallel with price dips. At the same time, the weekly RSI Golden Cross is said to be in place.
Dark Defender again highlighted the importance of the $0.6649 price level. He claimed that this level, above the weekly Ichimoku clouds, is a “crucial marker” that must be in place before $XRP makes its parabolic run. The analyst also noted that $0.5286 and $0.4623 are critical support levels, which $XRP holders should keep an eye on.
$XRP Could Rally By 5,000% And Rise To $27
Crypto analyst Egrag Crypto has also offered a more bullish price prediction for $XRP, suggesting that the crypto could enjoy a 5,000% price gain and rise to $27. As a more conservative price prediction, he remarked that $XRP could enjoy a 2,400% price gain and climb to $17. He made these predictions based on the Bullish Hammer Candle Stick formations, which he noted have historically produced massive price gains for $XRP.
This isn’t the first time Egrag has predicted that $XRP could rise to as high as $27 in this bull run. In November last year, he mentioned that this price level was a “plausible” target, especially if the crypto repeats its 2017 bull rally.
At the time of writing, $XRP is trading at around $0.55, down over 2% in the last 24 hours, according to data from CoinMarketCap.
