In addition to the ongoing lawsuit between Ripple and the SEC, community expectations on the XRP network continue to create significant pressure. Despite the market’s value decline, the XRP community has long been dreaming of profitability and highlighting opportunities for XRP price recovery. Recently, an analyst made an extremely optimistic and perhaps fanciful prediction that XRP could increase by 3000% to reach $18. This prediction has caught the attention of not only XRP investors but also the entire crypto market. So, according to the analyst, how can the price increase by 3000%? Let’s take a look together.
Will XRP Price Rise?
After experiencing a weekly increase of over 2%, XRP is currently trading at $0.5211 and is in a relatively good position. However, despite the increase, this region where XRP has been stuck for years emerged after the general price decline, despite the weekly rise.
Despite Ripple’s XRP Token experiencing a notable rise in March within a very short period, it became one of the cryptocurrencies that most clearly reflected the market’s decline wave, quickly retracting and returning to its starting point. Additionally, a crypto analyst named this situation as the last price drop before an XRP price increase.
Coinskid, an analyst, suggested that before a potential rise in XRP price, there could be a retracement to $0.40 based on a five-wave price movement.
How Much Could XRP Be According to the Analyst?
Dark Defender, an analyst known for his analyses on XRP, made a prediction indicating a 3000% increase after examining the XRP/USD charts in a monthly timeframe. The analyst highlighted a distinct bull flag pattern that could trigger a sharp price increase before consolidations occur.
Dark Defender’s comment suggests that this bull flag formation could appear in different timeframes, including monthly, quarterly, and even semi-annual periods.
Dark Defender supported his analysis with the flagpole and Fibonacci extension levels. According to the analyst, it is possible for the XRP price to initially rise to $5 with a target of $1.88 and eventually move up to $18.23.
