2024-8-13 23:26 |
XRP bulls have their eyes peeled on a higher price point after the asset crossed its yearly high in mid-July but one analyst argues that a three-digit valuation is within grasp for the seventh-largest cryptocurrency.
Market analyst Dark Defender took to X (formerly Twitter) to share his long-term predictions for XRP, noting that the asset can reach an all-time high of $333 in the near future. However, the analyst failed to disclose a timeline for XRP to attain the ambitious price point but forward-looking optimists are eyeing the end of 2025.
“People think that I am here for 3, 5, or 18,” wrote Dark Defender. “I am here for $333 minimum.”
Dark Defender made the predictions, while XRP ranged between $0.61 and $0.63 after racking up impressive milestones since the start of July. The asset is still basking on a 35% rally over seven days, pushing XRP to a yearly high of $0.74.
The journey to $333 appears to be arduous for XRP, which has faced considerable regulatory headwinds for nearly four years. From its present levels, a climb to $333 will represent a 45,000% increase, but XRP will have to reach several milestones before arriving at Dark Defender’s forecast.
For now, XRP enthusiasts have their eyes peeled on the $1 mark with several traders expecting a breakout beyond $0.74 to fuel the push to a dollar valuation. However, other analysts are conservative with their estimates, urging traders to brace for a lengthy consolidation in the foreseeable future.
A bull pennant lights the wayDark Defender’s predictions for a stellar rally have been corroborated by several sources in the ecosystem, with Crypto Michael pointing to the appearance of a bull pennant pattern on the seven-year chart.
“In all my years of trading crypto, I have never seen a 7-year-long bull pennant,” wrote Crypto Michael. “We might be about to witness one of the most significant breakouts in crypto history.”
Crypto Michael argues that XRP’s recent upswing is expected to continue into the long term, while other community sleuths expect the birth of bullish god candles for the asset. Crypto analysis firm Santiment shares a similar outlook with previous analysts, noting that trader sentiments are predominantly bullish for the asset.
“Trader sentiment is following the price action,” read a Santiment report. “With XRP making an emergence this week, bullish narratives have erupted.”
Similar to Notcoin - Blum - Airdrops In 2024
Ripple (XRP) на Currencies.ru
|
