A crypto analyst has provided some optimism regarding the XRP price as many contemplate whether or not to continue to hold on to their XRP tokens. This comes as the crypto tokenโs underperformance has been a cause of concern to holders, with talks about a potential manipulation resounding through the community.
XRP Price To Hit $18 In The Short-Term
In a post on his X (formerly Twitter) platform, crypto analyst Dark Defender shared an interesting analysis where he noted that XRP could hit $18 soon enough. To back up his prediction, he noted that XRP was retesting the $0.6649. According to him, this level is โnot a jokeโ as it is a very crucial one. An upward trend is expected from that price level based on his assertions.ย
Meanwhile, Dark Defender also shared XRPโs monthly chart in his post. From the chart, he noted that XRP was currently above the price level of $0.6649, which he had earlier referenced. This happening could see XRP move close to $1. On the chart, he highlighted $0.88 and $1.05 as targets that will be โachievable shortly.โ
The rally, however, doesnโt stop there, as the crypto analyst claimed the โ5 Wave EW Structure in the Monthly Chart is still in play.โ This indicator points to XRP hitting $18.22 in the short mid-term. The journey to $18 isnโt expected to be all smooth, as he mentioned that XRP would face a strong resistance at $1.08.ย
The good news is that once XRP is able to break from that level, โit will be Kaboom,โ in the words of Dark Defender. As to how soon XRP could hit $18, the accompanying chart suggests that this could happen between July and October 2024.ย
Token price falls to $0.62 | Source: XRPUSD on Tradingview.comย
A Growing Frustration In The XRP Community?
Over the weekend, a pro-XRP crypto influencer, Chloe, released an X post where she voiced her frustration at XRPโs price decline and stated that she had โsold it all.โ Before that post suggesting that she had sold her XRP holdings, she had made an earlier post where she seemed very displeased with XRPโs price action.ย
Although Chloe later came out to clarify that she didnโt sell any โsingle XRP,โ her earlier posts exemplify the growing frustration in the XRP community. At the moment, many seem puzzled by XRPโs abysmal price action. One of them is pro-XRP legal expert Bill Morgan, who recently questioned the reason for XRPโs underperformance.
In an X post, the lawyer stated that XRP has failed to outperform most of the other tokens in the top 10 by market cap despite gaining regulatory clarity. Interestingly, he noted that XRPโs price was higher five years ago than it is now. According to Morgan, there needs to be a better explanation for XRPโs price movement than just โsaying it follows the market.โ
Featured image from CoinGape, chart from Tradingview.com
