Cryptocurrency XRP is ready to surge and according to Dark Defender, a renowned XRP analyst, the asset could soon stage a breakout and reach a price point of $3.82 this year. Taking to Twitter, Dark Defender cited the recent silence observed within the XRP camp as one of the indications that XRP is ready for a breakout. To illustrate, the analyst highlighted the weekly XRP chart suggesting the breakout will occur after 13 weeks from the current point, leading to late August 2023.
The speculated period of breakout corresponds to the speculated time frame for a resolution of Ripple vs. SEC lawsuit, which is speculated to be in late Q3 this year. If XRP posts a breakout, as Dark Defender suggests, the asset could tower over the crucial resistance line and attain a first target of $1.33 with the next target sitting at $3.82. Dark Defender previously forecasted a more bullish outcome for XRP with targets of $3.82, $22, and $150+ respectively.
Another famous analyst, Egrag, also forecasted an imminent rally for XRP with a 30,000% appreciation to a price point of $127. To begin with, Egrag suggested XRP has undergone multiple closes above the Gaussian Channel, hinting at an impending breakout that would take at least 75 days to consolidate. XRP is currently trading for $0.4264, marking a marginal gain of 0.16% in the last 24 hours.
Noah Davis
- 2023-05-15
XRP Set to Surge - Dark Defender and Egrag Forecast Impending Breakout
Dark Defender and Egrag, two renowned XRP analysts, have forecasted an imminent breakout in XRP’s price taking it to a price point of $3.82 and $127 respectively. If it posts the breakout, XRP is expected to reach a first target of $1.33.
