Crypto Analyst Predicts XRP Price Explosion To Over $18

In
a
recent
analysis
provided
by
the
crypto
analyst
Dark
Defender,
a
compelling
case
has
been
made
for
the
potential
significant
rise
in
the
price
of
XRP.
Through
a
detailed
examination
of
the
XRP/USD
chart
on
a
monthly
time
frame,
as
sourced
from
Binance,
Dark
Defender
highlights
a
large
bullish
formation,
which
he
describes
as
a
“bull
flag”
across
multiple
longer-term
time
frames
including
monthly,
three-month,
and
six-month
charts.

XRP
Price
Gears
Up
For
Explosive
Move

The

analysis
shows
a
substantial
initial
upsurge
in
price
marked
by
a
green
arrow,
suggesting
a
strong
bullish
momentum
that
started
around
early
2017
and
peaked
later
that
year.
The
price
action
following
this
peak
is
what
Dark
Defender
identifies
as
a

bull
flag
pattern.
This
pattern
is
characterized
by
a
period
of
consolidation
following
a
sharp
movement
in
price,
resembling
a
flag
on
a
pole.

The
consolidation,
traced
with
a
red
descending
trend
line
and
a
blue
ascending
trend
line,
forms
a
converging
pattern
known
as
a
triangle,
which
typically
suggests
that
the
period
of
consolidation
is
nearing
an
end
as
the
lines
converge.
According
to
Dark
Defender,
this
suggests
a
breakout
is
imminent.

Related
Reading

“I
have
read
some
posts
that
XRP
had
a
bull
flag
in
the
daily
time
frame,
etc.
If
those
are
correction
bull
flags,
this
is
a
bull
flag,
too.
But
a
bullish
one.
It
is
in
the
monthly,
three-month,
and
six-month
time
frames.
If
you
know
a
bull
flag,
you
can
enjoy
your
coffee
today.
Cheers,”
he
stated.

In
his
forecast,
Dark
Defender
uses
the
flag
pole
and
Fibonacci
extension
levels
to
predict

future
price
points.
After
the
expected
breakout
above
the
red
resistance
line,
the
first
target
is
situated
at
the
161.80%
Fibonacci
level,
which
would
bring
XRP
to
approximately
$1.88.
A
further
ambitious
target
is
set
at
the
261.80%
Fibonacci
level,
priced
at
about
$5.86.

The
most
optimistic
target
lies
at
the
361.80%
Fibonacci
level,
forecasting
the
price
to
soar
as
high
as
approximately
$18.23.
Notably,
Dark
Defender’s
blue
line,
analogous
in
length
to
the
flagpole,
shows
that
the
XRP
price
could
rise
well
above
$18.

Different
Analysis,
Similar
Price
Targets

This
analysis
was
further

commented
on
by
another
renowned
XRP
community
analyst,
EGRAG
CRYPTO,
who
brought
attention
to
the
fact
that
the
flag
portion
of
the
pattern
extends
beyond
half
the
length
of
the
initial
pole,
a
structural
detail
that
might
typically
invalidate
the
bull
flag
designation.

Related
Reading

“I’ve
dabbled
in
this
analysis
before,
but
lately,
I’ve
become
increasingly
intrigued
by
the
potential
of
a

symmetrical
triangle
breakout.
What
caught
my
eye
is
that
the
Flag
is
extending
beyond
half
the
length
of
the
Pole
which
invalidates
the
structure.
Regardless
of
who’s
right
or
wrong,
hope
to
meet
in
the
near
future
and
being
multimillionaires.
Keep
up
the
fantastic
work,”
Egrag
noted.

Despite
this
technical
caveat,
EGRAG
CRYPTO
remains
positive
about
the
potential
of
a
symmetrical
triangle
breakout.
In
a
recent

analysis
of
the
weekly
chart,
EGRAG
elaborated
that
XRP
will
at
least
explode
towards
$1.5
if
price
breaks
out
to
the
upside
of
the
triangle.
On
a
broader
triangle
pattern,
EGRAG
expects
a
move
to
$5.89.

“XRP
Army,
STAY
STEADY!
There’s
a
mini
pump
to
$1.5
and
a
major
pump
to
$5.89
in
the
cards,
with
the
MACRO
pump
potentially
soaring
above
2
digits,”
he
stated.
Despite
their
different
approaches,
the
two
analysts
are
therefore
very
close
in
their
analyses.

At
press
time,
XRP
traded
at
$0.5189.

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