Crypto analysts are predicting that XRP could emulate its staggering 2017 price gains. Dark Defender, a well-regarded crypto analyst, highlighted in a post on X (formerly Twitter) that XRP’s current trading pattern mirrors the 2014-2017 cycle. He emphasized the importance of the $0.3917 “Point of Control” (POC), the price at which most trades have occurred since 2014, as crucial for sustaining this potential rally.
Dark Defender notes that if XRP maintains this POC, it could replicate its 2017 performance, skyrocketing by 61,000% in just 280 days. He described the prospect of XRP reaching $5.85 and higher as “absolute art,” referencing historical patterns to bolster his claims.
Further reinforcing the bullish sentiment, Dark Defender pointed out that XRP’s daily and weekly Relative Strength Index (RSI) is significantly oversold, similar to conditions seen in March 2020 and November 2022, suggesting a potential for considerable price recovery.
Echoing these sentiments, analyst Mikybull Crypto also sees potential for XRP to exceed $4, based on its current price actions and overall market sentiment, which remains subdued. Similarly, analyst Javon Marks speculated a possible 39,000% price rally for XRP, aiming for an unprecedented high of $200, grounded in his Full Logarithmic Follow-Through indicator and historical data.
Dark Defender has also set an ambitious target for XRP, predicting it could climb as high as $18.22. This forecast is based on XRP hitting a significant Fibonacci support at the $0.3917 POC within the framework of the 5 Elliot Waves, with immediate targets at $1.88 and $5.85.
Currently, XRP trades at around $0.42, down by over 4% in the last 24 hours, as per CoinMarketCap. The market’s anticipation of a bullish reversal is high, with many watching the critical $0.3917 level to determine XRP’s future trajectory in the market.
