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XRP has been one of the most engaging assets in the cryptocurrency world from the past to the present. The case between Ripple and the SEC is also said to have the potential to determine the fate of XRP and even the entire cryptocurrency world. So, can XRP return to $1 after December 23, 2021? A well-known analyst recently shed light on this issue.
How Much Will XRP Be Worth?
Bitcoin‘s (BTC) surge past the significant price target of $62,000 to touch $64,000, along with the general uptrend in the cryptocurrency market, could make XRP’s rise towards the $1 goal seem unsurprising.
In this context, a post shared on February 29 by the recently famous Dark Defender stated that XRP token, having surpassed the psychological resistance level of $0.60, could be targeting $1 according to its formation.
Especially when talking about the Ichimoku clouds formation, it refers to a collection of technical analysis (TA) indicators that not only show support and resistance levels but also indicate momentum and direction.
This indicator reflects a nine-period average, while also showing a 26-period average, the average of the two emerging averages, a 52-period average, and a lagging closing price line.
On the other hand, the market movement called Bullish hammer is another indicator that appears and suggests that an asset has reached its bottom level and indicates a reversal of a trend, potentially showing an upward movement for XRP, above the orange line in the graph above.
XRP Price Analysis
While all this is happening, XRP’s price also moved in this direction, starting to trade at a price level of $0.6037 with a 5% increase in the last 24 hours. XRP’s price increase over the last seven days is expressed as 11.91%, and a monthly price performance review reveals that investors have gained 14.68%.
XRP’s trading volume in the last 24 hours also increased by 45% and exceeded $3.8 billion. Meanwhile, its market cap also increased by 5% reaching the level of $33 billion.
Considering all these circumstances, it is possible to see that XRP’s price could be marching towards $1, especially if BTC continues its positive price movement and if there is favorable news from the Ripple-SEC case.
