TL;DR
- XRP surpassed $0.62, its highest since August, and remains bullish despite a slight drop to around $0.60, with positive market sentiment.
- Analyst Dark Defender predicts a potential rally to $0.66 by week’s end, with an optimistic long-term forecast of reaching $18.22 if it surpasses the $1.88 Fibonacci level.
- A more conservative prediction from analyst CrediBull sees XRP potentially rising to $0.90 by the summer of 2024, provided it maintains above the $0.40-$0.50 support zone.
XRP to Skyrocket by 3,000%?
Ripple’s native token – XRP – recently surpassed the $0.62 level (for the first time since August) and has been among the best-performing crypto assets in the past several weeks. Despite today’s slight plunge to approximately $0.60 (per CoinGecko’s data), the overall sentiment surrounding the coin remains bullish.
One popular analyst, using the X (Twitter) handle Dark Defender, believes XRP is poised for a rally toward $0.66 by the end of this week and a further explosion in the following months. They think its uptrend could continue all the way to $18.22, assuming it closes above the $1.88 Fibonacci target, which was set as “a short-term target.”
“We have one mid-level resistance @ $1.05 after eliminating $0.66. I don’t think XRP will stay long around the $1 level since the Sub-Wave 3 has 3 main targets: $1.88, $5.85 & $18.22 Par/SAR indicator is expected to turn green soon, which will add volume to the move. We are above Ichimoku in the weekly, which is positive,” the analyst surmised.
A More Realistic XRP Forecast
While the $18 price tag might sound a bit preposterous, another analyst (named CrediBull on X) laid out a somewhat plausible prediction.
In their view, XRP could soar to $0.90 in the summer of 2024, assuming it stays above the $0.40-$0.50 resistance level.
Those willing to find out whether Ripple’s token might head north in the remaining months of the ongoing year could take a look at our dedicated video below:
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.