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XRP Upward Trend Sparks Excitement: Analyst Predicts Next Price Targets

source-logo  cryptonewsland.com 29 February 2024 00:42, UTC
  • XRP’s price maintains an upward trend, with an analyst anticipating third-wave targets.
  • Rumors swirl regarding Ripple’s legal disputes, potentially impacting XRP’s price movement.
  • XRP experiences a significant price increase, accompanied by rising market value and trading volume.

On February 28th, XRP continued its upward trend, buoyed by Dark Defender’s optimistic forecast. The analyst, well-known in the cryptocurrency community, hinted that Ripple’s native token is inching closer to its third-wave targets, potentially reaching price levels of $0.6462, $0.7707, and $0.9191.

Buongiorno. #XRP visited our support levels and started to form the 3rd Wave by hitting mid-level Orange Resistance.

3rd Wave targets $0.9191.

Expected targets:

$0.6462 on 1-Mar

$0.7707-$0.9191 around 10-13-Mar.

Arrivederci!#ripple pic.twitter.com/t6NTORn5Ar

— Dark Defender (@DefendDark) February 28, 2024

However, amidst this positive outlook, the ongoing legal dispute between Ripple and the SEC introduces a level of uncertainty to XRP’s price movement. The SEC’s objection to Judge Torres’ proposed timeline for resolving the case has sparked speculation about the potential consequences for XRP’s value.

Despite these legal challenges, XRP’s price experienced a notable increase, fueling optimism among traders and investors alike. The expectation of a resolution in the SEC case has spurred heightened activity in the market, with many anticipating significant developments in the near future.

These recent events have reignited discussions among community members regarding XRP’s price performance relative to its historical trends. Some have noted the token’s subdued gains compared to its corrections, leading to debates about its long-term trajectory.

Addressing concerns about XRP’s price volatility, Dark Defender reminded the community of the token’s remarkable surge in 2017, suggesting that such rapid growth naturally entails significant corrections over time.

As of the latest update, XRP’s price has surged by 5% over the past 24 hours, reaching $0.5800. The token’s market capitalization has also increased to $32 billion, accompanied by a notable rise in trading volume.