- XRP exhibits a cup & handle pattern in the daily timeframe, signaling potential growth.
- Analyst Dark Defender sets targets at $1.05 and $1.88, aligning with Elliott Wave analysis.
- The pattern’s success hinges on XRP staying above $0.5286 and closing above $0.6044 for two consecutive days.
Crypto Analyst Dark Defender’s Latest Projections for XRP
In a recent Twitter post, renowned crypto analyst Dark Defender shed light on XRP’s intriguing price movements. The cryptocurrency has formed a cup & handle pattern within the daily timeframe, igniting excitement within the crypto community.
Dark Defender’s analysis extends to setting ambitious price targets for XRP, namely $1.05 and $1.88, aligning with the Elliott Waves theory. The emergence of the cup & handle pattern further bolsters these optimistic predictions.
However, the question remains: can XRP’s handle extend towards the $0.5286 support level? Dark Defender emphasizes the need for XRP to close above the critical $0.6044 support for two consecutive days. At this juncture, the answer appears to be in the negative.
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Nonetheless, the primary market structure remains intact, and XRP continues to hold promise. Despite short-term fluctuations, XRP enthusiasts can look forward to a potential surge towards $1.05 and $1.88 in the near future.
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