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XRP Price To $8: Analyst Says Repeat Of 2017 Could Drive Rally

Scott Matherson
Scott Matherson
9 months ago
3 mins read
XRP Price

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Crypto analyst Dark Defender has predicted that the XRP price could rise to $8 and explained what could spark such a parabolic rally for the crypto. As part of his bullish prediction, the crypto analyst also revealed what could lead to XRP rising to $18. 

XRP Price To Rise To $8 If Repeat Of 2017 Bull Run Occurs

Dark Defender predicted in an X (formerly Twitter) post that XRP would rise to $8 if a repeat of the 2017 bull run were to occur. Back then, XRP recorded a price rally of 61,000% in 280 days to its current all-time high (ATH) of $3.84.

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The crypto analyst seemed confident about this 2017 price surge happening again, stating that the XRP community is having a “deja vu of 2017 by standing weeks in front of the XRP bull run.”

XRP 1
Source: X

Dark Defender added that if a similar run is in place, $18.22, the Fibonacci level of 361.80%, is expected to be the upper target level of XRP’s Wave 3 impulsive move. From the accompanying chart, this projected move to $8 and possibly $18 is expected to occur sometime between October and early 2025. 

The crypto analyst also provided an analysis of XRP’s current price action and highlighted critical support levels XRP needs to hold above if it is to rise to this unprecedented height. Firstly, he noted that the crypto has been consolidating between $0.3917 and $0.6649. Meanwhile, in the weekly time frame, XRP’s relative strength index (RSI) dips have formed a parallel with price dips. At the same time, the weekly RSI Golden Cross is said to be in place.  

Dark Defender again highlighted the importance of the $0.6649 price level. He claimed that this level, above the weekly Ichimoku clouds, is a “crucial marker” that must be in place before XRP makes its parabolic run. The analyst also noted that $0.5286 and $0.4623 are critical support levels, which XRP holders should keep an eye on. 

XRP Could Rally By 5,000% And Rise To $27

Crypto analyst Egrag Crypto has also offered a more bullish price prediction for XRP, suggesting that the crypto could enjoy a 5,000% price gain and rise to $27. As a more conservative price prediction, he remarked that XRP could enjoy a 2,400% price gain and climb to $17. He made these predictions based on the Bullish Hammer Candle Stick formations, which he noted have historically produced massive price gains for XRP.

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XRP 2
Source: X

This isn’t the first time Egrag has predicted that XRP could rise to as high as $27 in this bull run. In November last year, he mentioned that this price level was a “plausible” target, especially if the crypto repeats its 2017 bull rally.  

At the time of writing, XRP is trading at around $0.55, down over 2% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com
XRP price struggles to hold up | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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