The recent surge in XRP price has caught the attention of many investors and analysts, with the digital asset briefly touching above $2.7 after a 9% increase on December 17. While the price was quickly rejected at this level, the bullish momentum on the daily timeframe chart continues to be evident. Dark Defender, a well-known crypto analyst and XRP advocate, recently shared his insights on XRP, highlighting key price levels that could potentially lead to a surge in price up to $5.85.
Dark Defender has been consistently bullish on XRP, even during its bearish phases, and he emphasized the significance of the $2.72 price level, which has acted as a support and bounce point for the digital asset. In a recent analysis, he pointed out that XRP has been following his predicted trajectory, with the price hitting the $2.72 target he shared two days earlier. This validation has further boosted his confidence in the current trajectory of XRP.
The breakout above $2.72 on December 15 from a downward-sloping resistance trendline that had been in place since December 3 on the 4-hour chart marked a significant event for XRP. Following this breakout, the price briefly touched $2.72 before facing rejection, leading to a short-term decline. Dark Defender’s technical analysis now points to $2.42 and $2.52 as critical support levels to watch. If the price breaches $2.52, $2.42 is expected to act as a crucial bounce point, potentially reigniting bullish momentum and setting the stage for another upward surge.
Looking ahead, Dark Defender outlined key price levels that XRP would need to overcome to reach new highs. Breaking above $2.72 and retesting the current 2024 high of $2.92 would be the first steps towards a potential climb to new price highs not seen in over six years. If XRP successfully surpasses $2.92, the next target would be $3.43, its current all-time high price that has remained unbroken for over seven years. From there, Dark Defender predicts continued bullish momentum that could drive the token to a long-term target of $5.85.
As of the latest data, XRP is trading at $2.51 with a market cap of $144 billion. Achieving a price of $5.85 would represent a 133% increase and a market cap of $351 billion. Despite bearish pressures, the XRP price chart shows strength and resilience, indicating potential for further growth in the near future.
In conclusion, the recent surge in XRP price and the positive outlook shared by Dark Defender suggest that XRP may be on the path to significant price appreciation. With key resistance levels and support levels identified, investors and traders will be closely monitoring XRP’s price movements in the coming days and weeks.
