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The $XRP price has now managed to position itself above the $0.6 psychological level, as the entire crypto market waddles in bullish action in the past month. Popular crypto analyst Dark Defender has predicted an interesting price point for $XRP, revealing that the crypto could reach $14.61 if the $XRP/$BTC pair reaches a record high.
$XRP Could Skyrocket 2,300%
Dark Defender’s recent analysis of $XRP’s price trajectory is based on its past performance against Bitcoin on the $XRP/$BTC pair. A deep dive into the $XRP/$BTC chart shared on X by the analyst reveals that $XRP has been underperforming against Bitcoin since the middle of 2023. $XRP has been down 60% against Bitcoin since August 2023. Recent market dynamics have further exacerbated its underperformance against Bitcoin, as Bitcoin continues to push against various price levels to reach a new all-time high.
Interestingly, Dark Defender noted that the price action of the pair has now reached a support which will determine $XRP’s price trajectory in the coming months. The so-called support has the characteristics of the formation of higher lows since 2015 and is now at the 0.00000914 level.
The price chart noted a bounce over this support to usher in an incoming breakout of epic proportions to the current high of 0.00024351. The last time a bounce happened, $XRP would go on to overperform Bitcoin by over 5,000% throughout 2017 and early 2018. “It will be the awakening of 6 years,” the analyst said.
We had the Orange and the Green Arrows on the #$XRP/#$BTC pair.
We reached the Support, Ultimate.
The #Purple Arrow is here.
It will be the awakening of 6 years.
Some can see, & some can’t. pic.twitter.com/yyqhwjopiX
— Dark Defender (@DefendDark) March 6, 2024
When asked for an $XRP price point, Dark Defender clarified that the $XRP/$BTC pair increases only when $XRP appreciates against $BTC. In the scenario that $BTC starts to perambulate around the $60,000 price level, a surge in the $XRP/$BTC to the 0.00024351 level would relate to $XRP reaching $14.61. In the scenario that Bitcoin reaches $100,000 and sticks around this price level, $XRP could trade for over $20 with the same all-time high on the $XRP/$BTC pair.
With $XRP now trading at $0.6205, a surge to $14.61 and $20 would mean an increase of 2,250% and 3,120%, respectively, from the current price level.
Continued Bullish Sentiment For $XRP Price?
Other crypto analysts have predicted bullish price points for $XRP in the near future. For example, Crypto analyst Jaydee highlighted $XRP breaking out of a six-year trendline which could mean a further move to the upside.
In another technical analysis using the Elliott Waves theory, Dark Defender predicted $XRP to reach $1 in March, a level that it hasn’t attained since May 2021.
$XRP price resumes uptrend | Source: XRPUSDT on Tradingview.com