In a captivating narrative witnessed within the cryptocurrency realm, following leading analysts’ anticipation of XRP’s potential run to $1 in April, another remarkable prediction shared by the analyst Dark Defender appears to be gaining significant traction across the broader crypto market. In a post shared by Dark Defender dated today, April 8, the analyst claimed that the Ripple-backed token remains poised for a significant rising price movement ahead, indicating a breakout or a major change in trend based on the monthly timeframe analysis.

Concerning this, the analyst stated that $5.85 is potentially in sight, should the Ripple-backed token scale its wave three target of $1. This statement by the analyst echoed a sense of frenzy across the global crypto horizon, coming in the midst of notable corrections and consolidations witnessed in the crypto market.

Dark Defender’s Prediction of XRP To $5.85: What’s The Scoop?

Intriguingly, the analyst’s post shared on X spotlighted XRP’s current sideways pattern, wherein it tends to trade within certain price ranges ($0.49, $0.58, and $0.67) without significant price action shifts. To this, the analyst took a contrasting stance, stating, “April will bring about a significant change, with XRP potentially breaking through resistance levels,” piquing quite the investor attention.

Notably, Dark Defender unveils the next price targets for XRP, including a move towards $1 in the near future, followed by targets of $1.88 and an attention-grabbing $5.85.

Hey there. XRP is ready for the monthly break, which is imminent when you check the monthly time frame below.

I hear the ones; #XRP only goes sideways between $0.49, $0.58, and $0.67, right?

Yeah yeah, I think starting this Month, April, a lot of melting faces will be around.… pic.twitter.com/kqlhDEqpGy

— Dark Defender (@DefendDark) April 8, 2024

Meanwhile, another leading analyst going by the name Egrag Crypto highlighted “The Three Camel Humps,” pattern on XRP’s chart, likely referring to three key points or patterns in XRP’s price movement. The analyst states that breaking above 0.75 cents remains crucial for XRP, suggesting that XRP’s price’s topping of 0.75 cents indicates a strong upward momentum for the cryptocurrency, flagging out a potential bullish behavior in the market.

Whereas, similar to Dark Defender’s post on X, Egrag points out the current trading range for XRP, which fluctuates between 0.55 cents and 0.67 cents, and adds 0.40 cents as a crucial support level for the Ripple-backed token. In addition, the analyst sets a target price range for XRP between $1 and $1.3, somewhat coinciding with that of Dark Defender’s.

#XRP Analysis: The Three Camel Humps

A) Breaking Above 0.75c Signals Bullish Momentum
B) Current Range: 0.55c-0.67c
C) Support Holds Strong at 0.40c
D) Target Zone: $1-$1.3#XRPArmy STAY STEADY! Remember, the sun always shines in the morning. pic.twitter.com/DNkiMyXFoR

— EGRAG CRYPTO (@egragcrypto) April 8, 2024

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XRP Price Springs

As of writing, the XRP token’s price has noted a 1.79% jump in the past 24 hours and is currently resting at $0.6081. This jump showcased by the Ripple-backed token garnered noteworthy optimism among investors, aligning with the abovementioned analysts’ predictions.

Meanwhile, Coinglass‘ data underlined a strong market uptrend for XRP, as its open interest surged 6.20%, accompanied by a derivatives volume upswing of 74.12%. This further cemented XRP’s optimistic foothold in the market, aligning with the analysts’ prediction of a significant pump ahead. However, the highly optimistic level of $5.85 spotlighted by Dark Defender appears questionable in the short run, although the token might scale it ahead if regulatory hurdles for Ripple ease and the upcoming BTC halving sparks a broader uptrend in the market.

Also Read: Elon Musk Faces Probe In Brazil For Challenging Court’s Decision

The post XRP Price: Analyst That Claimed XRP To Hit $1 in April Says $5.85 In Sight appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am