XRP Price Prediction: 600% Rally Incoming?
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Crypto analyst Dark Defender points to a bullish signal for XRP, a “Golden Cross” on the weekly RSI indicator, that previously triggered a massive 600% price surge in November 2024. This signal's reappearance, coupled with the recent break above a long-term resistance trendline, suggests a potential repeat of this dramatic price action. The analysis highlights the confluence of technical indicators, including the RSI crossover mirroring its behavior before the 2024 rally and a five-wave Elliott Wave structure suggesting XRP is entering wave III, typically the strongest phase of a bullish cycle. While the previous rally saw XRP reach $3.31, Dark Defender proposes more conservative price targets, estimating a potential move to $3.33 (a 43% increase from the current price of $2.34) or even $5.85 (a 150% increase), representing the 261.8% Fibonacci level. The analyst refers to $5.85 as a potential new all-time high. These targets are based on the observed patterns and technical indicators rather than a direct replication of the full 600% rally. The analysis underscores the importance of technical signals in predicting potential price movements and emphasizes the strong correlation between XRP and broader crypto market trends. It's important to note that all predictions are inherently speculative and should be considered within the context of the inherent volatility of the cryptocurrency market.
(Source: https://www.newsbtc.com/analysis/xrp/600-xrp-november-rally/)
