Analyst Forecasts XRP to Reach New Record High of 1100%

Analyst Forecasts XRP to Reach New Record High of 1100%

Pseudonymous crypto analyst Dark Defender has made an optimistic prediction for the price of XRP, foreseeing a significant increase. This latest forecast surpasses his previous prediction, with a price target set much higher.

Dark Defender’s recent XRP price prediction suggests a remarkable 1,100% price surge, potentially driving XRP to reach $5.85.

The analysis begins by highlighting that XRP closed September with a Doji, indicating that the cryptocurrency’s price at the end of the month was in a similar range to its starting price. Dark Defender sees this as a positive sign and anticipates a short-term retest of $0.66 for XRP, as the cryptocurrency has already surpassed its initial resistance.

However, the analyst notes that XRP will face a challenge at the $0.55 level, and breaking above this point will provide the necessary momentum. Dark Defender points out that XRP will rise above the weekly Ichimoku Clouds, which is considered highly bullish.

This isn’t the first time Dark Defender has made a bullish prediction for XRP. In August, the analyst forecasted a potential rise to $3, using wave trends as a basis for the prediction. In the current forecast, the target price is even higher, with the possibility of XRP reaching a new all-time high of $5.85. Dark Defender suggests that XRP will need to break through $0.66 first, followed by a run-up to $1.33, to achieve this.

The chart shared by the analyst implies that this new all-time high may occur by 2026, suggesting it could take place during the next bull market, with a three-year timeframe in mind.

Despite not performing as strongly as other top cryptocurrencies, XRP remains the fifth-largest cryptocurrency, boasting a market cap of $27.9 billion. At the time of writing, XRP’s price has risen by 5.74% in the past week, currently trading at $0.523.

About Maria Morgan

Maria Morgan is a full-time cryptocurrency journalist at Coinography. She is graduate in Political Science and Journalism from London, her writing is centered around cryptocurrency news, regulation and policy-making across the glob.

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