Ripple (XRP) has shown promising signs as it successfully hit the predicted target of $0.52, according to renowned crypto expert Dark Defender. In a recent X post, Dark Defender provided a comprehensive update on the Daily Time Frame, shedding light on the current status and potential future movements of XRP.
As anticipated, XRP made a decisive move towards the $0.52-$0.53 range, aligning with the analyst’s earlier predictions. The precise target area of $0.5286 was not only achieved but surpassed, with XRP closing just above that level in the previous trading session. The analyst emphasized the significance of this accomplishment, pointing out a break in the Relative Strength Index (RSI), signaling positive momentum for the cryptocurrency.
“This is a great sign for $XRP, poised to challenge the $0.60 Resistance, represented by the orange line at the top,” Dark Defender asserted. The expert expressed satisfaction in observing the accuracy of the predicted levels, indicating a strong correlation between the technical analysis and XRP’s actual performance in the market.
While celebrating the success of reaching the $0.52 target, the analyst remains cautiously optimistic, highlighting a further milestone to monitor. “I am happy to see our levels are precisely working, but of course, will be more than happy to see XRP breaking $0.6649 first,” Dark Defender stated.
Breaking this level would signify a significant breakthrough and pave the way for the cryptocurrency to proceed with the initial Fibonacci Target of Wave 3, estimated at an ambitious $1.88. However, the analyst’s predictions add a layer of confidence for investors navigating the volatile crypto landscape, creating anticipation for the next chapter in Ripple’s market journey.
XRP’s latest Price Analysis
As of the latest data, the cryptocurrency is currently trading at $0.525674. The 24-hour trading volume has surged to $700 million, reflecting an impressive increase of 55.70%. However, despite the recent surge, it has experienced a slight decline of 0.88% in the last 24 hours and 0.61% in the weekly chart.
In the overall cryptocurrency rankings, the cryptocurrency holds the 6th position on CoinMarketCap. The cryptocurrency boasts a market capitalization of $28 billion.
Analyzing the market sentiment, technical indicators suggest a cautious approach as Bearish signals slightly outweigh Bullish signals, constituting 17% of the overall sentiment towards Ripple. Meanwhile, the Fear & Greed Index, a key metric gauging market sentiment, is currently positioned at 54, indicating a Neutral stance.
Related Reading | Hong Kong Receives First Spot Bitcoin ETF Application From Harvest Fund