Since the start of the year, Ripple‘s (XRP) value has experienced significant ups and downs, causing uncertainty among its investors and the wider XRP community about its prospective direction.

XRP experienced a decline of 8% in the past week and 12% over the last month. At present, the currency is priced under $0.60, reaching a significant point where it has been trading laterally.

Optimistic Ripple Price Predictions Nonetheless

In spite of the current drop in price, well-known analyst Dark Defender continues to be optimistic about XRP and believes that prices above $1 are still potential goals for the cryptocurrency. Nevertheless, XRP may revisit prices below $0.54 based on the latest Fibonacci retracement level.

Dark Defender explained that his positive outlook is grounded in important technical signals such as Relative Strength Index (RSI) and Elliot Waves, plus past trends. He subsequently identified various price thresholds within these Waves and projected potential values of $0.97 and $1.5.

Dividing those into smaller parts reveals the targets as $0.9772 and $1.5048 for Wave 3, and $2.3172 for Wave 5. The values of $1.88 and $5.85 remain unaltered by these adjustments, but this clarification sheds light on distinct wave configurations.

In line with EGRAG CRYPTO’s viewpoint, two potential outcomes for XRP were suggested by the well-known analyst: a significant increase above $0.75 or a decline under $0.44. Nevertheless, Dark Defender is convinced that the asset will not drop below $0.50.

The Bitcoin halving at the end of April, an significant event for XRP‘s price and future, and the result of the ongoing Ripple vs. SEC case are two crucial factors. If Ripple loses in this legal battle, it could lead to stricter regulations for the crypto industry as a whole.

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2024-04-04 13:48