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The famous anonymous cryptocurrency analyst known as Dark Defender has caused optimism among investors by predicting a potential bullish momentum for XRP, an altcoin supported by Ripple. The analyst’s statement that XRP is likely to reach the $1 level has attracted significant interest from the altcoin’s community, especially following the notable 20% rally that XRP experienced throughout February.
XRP Eyes $1 and $1.88 Targets
Dark Defender‘s assessment on social media platform X suggests that the popular altcoin may be on its way to $1 in the short term. The analyst highlighted a bullish trend in the Moving Average Convergence Divergence (MACD) indicator and mentioned that the Ichimoku Clouds signal a potential upward movement.
According to the analyst, XRP could potentially rise to $1 and may be on the verge of a strong move towards its next target of $1.88, based on Fibonacci levels.
Dark Defender’s prediction of a potential bull run for XRP, particularly targeting the significant threshold of $1, has sparked speculation within the altcoin’s community and attracted the attention of many investors.
Trading Volume and Open Interest Raise Concerns
Current data shows that XRP is trading at $0.5924, experiencing a slight decrease of 0.32% in the last 24 hours. The weekly price chart indicates a 10.86% increase in the altcoin’s price, while the monthly chart points to a 20.11% rise.
Despite Dark Defender’s optimistic view, data from Coinglass indicates a downturn in the XRP market. Both trading volume and open interest have decreased. Specifically, XRP’s open interest has fallen by 6.57% to $790.12 million in the last 24 hours, and trading volume has dropped by 24.8% to $3.22 billion. This decline on both fronts suggests a decrease in investor interest in the altcoin, signaling that short-term investors should be cautious.
