XRP Price Heats Up! Prominent Crypto Trader Predicts $1 Target Next Soon

Since the beginning of 2024, XRP’s price has fallen by about 2.5%, while other top cryptocurrencies have gained around 60% during the same time. Despite this underperformance, XRP remains a prominent player in the crypto market, prompting optimism among analysts for its future trajectory.

Renowned cryptocurrency trader Dark Defender expects XRP’s price to surge to $0.93 or even $1, citing key technical indicators behind this bullish forecast.

XRP Aims For $1

In a recent analysis, crypto trader Dark Defender shared promising insights on XRP’s price movement, indicating a potential bullish trend ahead. 

Hi all. We have the daily close for #XRP above our previous Fibonacci Levels.

XRP ranges between $0.6044 & $0.6649,

and closed above $0.6044 3 days in a row signals we will hit $0.6649 in a day.

Remember, this level is the Primary level for the Move.

MAC-D also turned to… pic.twitter.com/PdQ7JSfbSs

— Dark Defender (@DefendDark) April 10, 2024

According to Dark Defender, XRP has recently closed above crucial Fibonacci levels, with the daily close consistently exceeding $0.6044 for 3 consecutive days. This development suggests a strong possibility of XRP reaching $0.6649 shortly, marking a significant uptick in its value.

Moreover, Dark Defender highlights the MAC-D indicator turning green, signaling further positive momentum for XRP. The trader predicts that XRP is likely to surpass $0.6649 and maintain its position above the Ichimoku Clouds, indicating a sustained uptrend.

While highlighting the importance of $0.6044 as a primary support level, Dark Defender sets ambitious targets for XRP’s price movement. Beyond $0.6649, the targets stand at $0.9327 and $1, reflecting growing interest among traders regarding XRP’s potential for substantial gains in the coming days.

Ripple Vs. SEC Lawsuit

While Dark Defender’s positive outlook offers hope, Ripple’s ongoing lawsuit with the SEC leaves sentiments divided. The legal dispute, overshadowing XRP, continues to impact market confidence. 

Why? It’s not big if Torres accepts the SEC’s argument that some of the XRP institutional investors suffered pecuniary harm because Ripple failed to disclose to them discounts offered to favored institutional investors. And we cannot really assess the strength of the SEC’s… https://t.co/2U51n8QRwj

— bill morgan (@Belisarius2020) April 12, 2024

Recent remarks by pro-XRP lawyer Bill Morgan add to the uncertainty. Morgan’s comment on institutional investors and the Second Circuit Court of Appeals underscores the complexity of Ripple’s legal challenges. Despite this, Dark Defender’s optimism hints at a potential breakthrough for XRP if it can overcome resistance levels.

XRP Price Action

Currently, XRP is trading at $0.60, with a 1.96% decrease, while its daily trading volume has dropped by 16.71% to $1.21 billion. 

SOURCE