- 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.
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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