XRP Price Prediction: Could It Hit $1 Again?
The XRP price has been on a tear recently, but the rally has hit a bit of a snag. After hitting a high of $0.6378, XRP dropped by over 11%, making some folks a little nervous. But fear not, according to crypto analyst Dark Defender, this might just be a temporary dip.
XRP Price Could Be Headed to $1.03
Dark Defender, who seems to be pretty bullish on XRP, believes the price could be headed to $1.03. This prediction is based on Elliott Wave Theory and Fibonacci retracement levels, both of which are popular technical analysis tools.
The analyst sees an “ABC corrective pattern” playing out, which suggests that XRP could dip further to around $0.499 before resuming its upward trajectory. He’s also using Fibonacci retracement levels to find potential support and resistance points. One key resistance point is at $0.5891, and another at $0.8763. But ultimately, the analyst sees XRP breaking through those resistance levels and pushing towards the $1 mark, which was just barely missed after the Ripple vs. SEC case last year.
So, even with the recent dip, it seems like some analysts are still feeling optimistic about XRP’s future. But, as always, do your own research and make your own investment decisions. This is just one analyst’s opinion, and things can always change in the volatile world of crypto.
