2024

Dark

Coin

<p>Crypto trader and market analyst&nbsp;<strong>Dark Defender</strong>&nbsp;has predicted a massive surge in XRP price and expects it to hit $36.76. </p> 
<p>This forecast is based on the Elliott Wave Theory and suggests&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/10/analyst-sees-600-potential-gain-for-xrp-price-amid-legal-victory/">XRP</a>&nbsp;is in the third wave out of five within an upward trend. This wave is expected to push XRP past Fibonacci levels of $1.88, $5.85, $18.22, and finally, $36.76.</p> 
<p>The monthly chart also has a Dragonfly Doji pattern, a candlestick pattern signaling a reversal of the current downward trend. Looking at the same pattern on the daily chart, XRP may have formed a solid support at $0.40. This means that the coin could be heading towards its next major rally.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Hi all. Let me update the monthly time frame on <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a>. <br><br>1. I shared the timeline below almost a year ago, before the $0.93 run (we targeted it at $0.89 when XRP was around 28 cents).<br><br>2. Then, we discussed the possibility of touching $0.3917 and called it the last frontier.<br><br>3.… <a href="https://t.co/dF2GpMTA79">pic.twitter.com/dF2GpMTA79</a></p>— Dark Defender (@DefendDark) <a href="https://twitter.com/DefendDark/status/1821516422918414837?ref_src=twsrc%5Etfw">August 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-critical-xrp-price-levels-to-monitor"><strong>Critical XRP Price Levels to Monitor</strong></h2> 
<p>However, as XRP nears these projected highs there are some key levels that will be of interest. The focus now is on the $0.66 mark. A rise beyond this level may lead to a rapid climb to $1.03, a crucial resistance level. If XRP continues to trade above $1.03, it may enter into the highly bullish region and may lure more investors.</p> 
<p>The monthly MACD indicator has changed into green supporting the positive viewpoint as XRP is likely to continue its upward movement.</p> 
<h2 class="wp-block-heading" id="h-calls-for-caution-amid-rising-prices"><strong>Calls for Caution Amid Rising Prices</strong></h2> 
<p>On the other hand,&nbsp;<strong>Nick Valdez</strong>, an analyst from the Discover Crypto channel, suggested that XRP investors take profits. He emphasized that the price had surged following the lawsuit victory over the SEC. XRP rose 30% to $0.64 as Ripple secured a considerable cut in the SEC’s desired penalty. Valdez has noted that in the history of price action such a spike is usually followed by a retrace back to previous levels.</p> 
<p>Valdez&nbsp;<a href="https://youtu.be/Aw9sqCu0NRY?si=6CDkjzgzj0XYuG2g">highlights</a>&nbsp;the importance of being cautious, especially as XRP begins to retrace some of its post-lawsuit gains. He predicts that XRP might face resistance around $0.93, making it a challenging level to surpass in the current cycle. His analysis points to a potential stabilization of XRP’s price between $0.40 and $0.50 by mid-September.</p> 
<h2 class="wp-block-heading" id="h-short-term-outlook-and-historical-precedents"><strong>Short-Term Outlook and Historical Precedents</strong></h2> 
<p>The profit-taking strategy seems grounded in XRP’s price history. XRP price has shown quick reversals after similar spikes. For example, after a&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/09/ripple-vs-sec-could-elon-musk-add-xrp-to-x-payments-after-ripples-court-win/">court ruling</a>&nbsp;in July 2023, XRP’s price doubled within 24 hours but fell back to its pre-spike levels within a month. The current situation mirrors this pattern, suggesting that XRP could again return to lower levels.</p> 
<p>XRP is positioned within its Bollinger Bands and has a neutral RSI of 51.38, as per the current market sentiment. This suggests that the price could go either way, though the broader analysis leans bullish. To make informed decisions, investors and traders are advised to watch these indicators closely. </p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/12/market-analyst-predicts-xrp-price-rally-targets-36-76-peak/">Market Analyst Predicts XRP Price Rally, Targets $36.76 Peak</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Market Analyst Predicts XRP Price Rally, Targets $36.76 Peak

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 12, 2024

Bitcoin Price Struggles Below $60,000 Affect Altcoin Market

Crypto Market Value Soars 6.1% in July, DeFi TVL Up 3.5%

Tether dismisses Celsius’ lawsuit over $2.4 billion Bitcoin liquidation

Binance Labs Unveils First Batch of Projects in Season 7 Incubation Program

PlayFi to Launch Genesis Node Sale Early After 70K Transactions in One Week

Icebreaker Secures $5M Seed Funding to Build Blockchain Alternative to LinkedIn

Join our free newsletter for daily crypto updates!