Pseudonymous crypto analyst and expert Dark Defender is back with another bullish prediction for the XRP price. This time around, the crypto analyst is extending his forecast for the cryptocurrency with the price target sitting considerably higher than his previous prediction.
Sending XRP Price To New $5.85 All-Time High
In the most recent XRP price prediction posted on X (formerly Twitter), crypto analyst Dark Defender has presented a bullish run for the digital asset’s price. The most recent prediction puts the coin’s price on a path to balloon 1,100% and reach as high as $5.85.
The analysis first alludes to the fact that the XRP price had closed the month of September with a Doji. Now, for those who might not know what a Doji is, it simply means that the price of the digital asset had closed the month in a similar range to what it started the month with. In this case, XRP started September at around $0.511 and closed at around $0.516; hence a Doji.
Dark Defender believes that XRP closing the month with a doji is positive, leading to a $0.66 retest in the short term. XRP has already broken the first resistance as pointed out in the chart.
But the XRP price will encounter the $0.55 level and a break above this point, the analyst says, will provide the momentum that the digital asset needs. “XRP will be above the weekly Ichimoku Clouds, which will be highly Bullish,” Dark Defender explains.
Morning US, afternoon EU & fijn avond Asia!#XRP closed the Sep candle with a doji.
I take this positive, as always, and expect a re-test towards $0.66 in a couple of days.Breaking $0.55 gives tremendous momentum since XRP will be above the weekly Ichimoku Clouds, which will… pic.twitter.com/OQCFoP49mD
— Dark Defender (@DefendDark) October 1, 2023
XRP finds support at $0.52 | Source: XRPUSD on Tradingview.com
Revising Previous XRP Predictions
This is not the first time that the crypto analyst will be presenting a bullish forecast for the XRP price. Back in August, Dark Defender also presented a similar forecast, and back then, the analyst said to expect a break toward $3 while using the wave trend as a basis for it.
Hi all. We set a historical pattern 3 months back & this week, #XRP stands fantastically at the same price level now.
I know it sounds crazy but check below.
The wave trend indicates we can still touch $0.58 & hit $3 (NFA) in the same week, says historical pattern.
Jeez. pic.twitter.com/byPwgriN8c
— Dark Defender (@DefendDark) August 14, 2023
Now, the target price for XRP is higher in the analyst’s latest forecast, presenting a possible new all-time high price for the digital asset of $5.85. For the resistance to this forecast, Dark Defender says the asset will first need to break $0.66, and then the next run-up will lead to $1.33.
As for when this new all-time high is going to happen, the chart shared by the analyst seems to go as far as 2026. This would suggest that this is what is expected to happen in the next bull market, and this is a 3-year timeframe.
Despite not having performed as well as other top cryptocurrencies, XRP remains the 5th-largest cryptocurrency with a market cap of $27.9 billion. Its price is up 5.74% in the last week to trade at $0.523 at the time of writing.