XRP appears to be hanging on the brink of an imminent uptrend, going by significant observations into its future price. The convergence of support and resistance levels reveals an imminent rise in prices. Despite the current volatility, XRP has demonstrated resilience, consistently achieving and surpassing key targets.
Crypto analyst Dark Defender has recently gone to the social media platform X (formerly Twitter) in order to offer his insights regarding the present trajectory pertaining to XRP’s price movement. Dark Defender’s analysis got deep into the complexities of the Weekly Heikin-Ashi Candles, a technical analysis tool that takes average prices through time giving a hint on probable move ahead in terms of the valuation of the token.
Dark Defender highlighted the significance of the conjunction between support and resistance levels, suggesting that a significant price movement for the token could be imminent within the next couple of weeks. On the one hand, a reminder by the analyst that he targeted the price for XRP at $0.89, although it was only at $0.27 at Wave 1. At the time, many doubted this, but eventually, it was reached.
The token has formed a new target for Wave 3 at $1.88, as per Dark Defender. The analyst once again re-emphasized that the critical support level at $0.6649 has held until now. Moreover, Dark Defender noted that the price structure they identified suggested a further expansion of Wave 3 towards $5.85, therefore adding another detail regarding the way the price of the token would potentially act out.
XRP Short-term Price Prediction
According to the latest data, the price of the token is trading at $0.547097, while it has had a 24-hour trading volume of $1.68 billion. The market capitalization for XRP stands at $29.85 billion. Over the last 24 hours, there has been a decrease of 2.40% in XRP price.
Changelly has published its recent Ripple price prediction that suggests the token’s value will rise by 23.91%. As per Changelly Forecast, by February 18th, the token could reach at least $0.7030. Technical indicators imply Ripple’s neutral bullish market sentiment of sentiment score at 55%. Similarly, the Fear & Greed Index, used to assess market sentiment, is reading 72 (Greed).
Drawing from historical price data, experts in the cryptocurrency field expect that by February 2024, the average token rate will be $0.666, while their lowest and highest anticipated values are $0.565 and $0.768, respectively. These numbers imply a potential ROI (Return on Investment) for XRP investors of approximately 34%.
XRP’s bullish movement as a whole indicates optimism in the market, with more gains expected within the next few weeks, according to experts. This optimistic view also supports an expectation of continued growth and potential returns for XRP holders.