XRP‘s price is maintaining its upward trend on February 28, and the analyst known as Dark Defender, who has been making notable XRP commentary recently, has stirred excitement in the crypto world by stating that Ripple‘s native token is approaching its third wave targets. According to a share made by the analyst on X, XRP is potentially moving towards price levels of $0.6462, $0.7707, and $0.9191.
Latest Status in the XRP Case
According to data provided by CoinMarketCap, XRP’s price experienced a significant increase today. This situation contributed to the optimistic outlook of crypto market traders and investors.
On the other hand, the SEC‘s objection to Judge Torres regarding the timeline for the resolution process has sparked rumors about Ripple’s legal disputes with the SEC and the potential impact on XRP’s price movement.
Impact of the SEC’s Objection on XRP
While rumors about the settlement continue to occupy the market, the SEC’s application for an extension of time increasingly strengthens the sentiment that significant announcements could be forthcoming. Consequently, the uncertainty surrounding the SEC’s case has led to a significant price movement in XRP.
According to a share made by the analyst in recent days, as mentioned above, XRP once again fell to its support level, igniting the fuse for the formation of the third wave. Following this event, the price level rose to the resistance indicated in orange (below).
This price increase paves the way for the third wave target level to be $0.6462 on March 1 and $0.7707-$0.9191 between March 10-13.
In response to the analyst’s share, some users emphasized the weakness of XRP’s rises compared to its price corrections, creating buzz within the community.
The analyst responded to this comment as follows:
XRP experienced an astonishing jump of 140,999% in 2017. This extraordinary rise must have a massive correction over 6 years.
What is the Current Price of XRP?
As of the time of writing, XRP’s price has seen a clear increase of 5% in the last 24 hours, finding buyers at the $0.5800 level. The token’s market value rose by 4% to $32 billion, while the 24-hour trading volume increased by 60.52% to $2.6 billion.
On the other hand, derivative data provided by Coinglass reflected a trend mirroring XRP’s price increase. Open interest rates saw a rise of 7.76%, while volume indicated a significant increase of 69.65%.
