Crypto Analyst Dark Defender Analyzes the Future Trajectory of XRP, Unveiling What Lies Ahead for the Cryptocurrency

Crypto analyst Dark Defender has analyzed the future trajectory of XRP, applying the principles of Elliott Wave Theory to unravel what lies ahead for the cryptocurrency.

Crypto analyst Dark Defender has applied the principles of Elliott Wave Theory to unravel the future trajectory of XRP, shedding light not just on the immediate fluctuations but on the grand tapestry of XRP's price journey. His analysis spans the short-term ripples and the long-term waves that will shape XRP's destiny in the years to come.

In his projection, Dark Defender has identified Wave 4 as a corrective phase that could cause XRP to dip to as low as $9, a stark contrast to the heady heights it scaled during Wave 3, reaching a peak of $18.22. This downturn, however, is not a cause for despair but a prelude to the next phase, Wave 5, where he foresees XRP surging to an impressive $36.76. This surge, however, is hinged on probability.

As XRP gathers momentum in the shorter term, several key price points are emerging. If it can breach the $0.66 resistance level, we could see a breakout to $1.03, setting the stage for new opportunities, according to RLinda.

Further bolstering this bullish outlook, Dark Defender emphasizes that XRP maintaining a price above $1.03 would signal its entry into an “extreme Bullish Zone” on the monthly Ichimoku Clouds. He also highlights a significant bullish turn in the monthly Moving Average Convergence/Divergence (MACD) indicator, reinforcing his positive forecast for the coin.

Interestingly, Dark Defender argues that XRP's price movements are dictated not by external events but by its inherent patterns. He points to the recent SEC vs. Ripple lawsuit as a case in point, noting that the legal outcome did not dramatically alter XRP's price. Yet, it's worth noting that following Judge Analisa Torres’ ruling, XRP briefly spiked by over 18% to $0.6, a move that fell short of the lofty expectations many had set.

For XRP holders, patience remains the key. While some, like CrediBULL Crypto, are optimistic that the resolution of the SEC case will eventually propel XRP to new all-time highs in the ongoing bull market, the road to those highs may require time and resilience.

As we eagerly await XRP's next move, let's not forget a new breakout coin that's making waves in 2024, promising early investors a piece of the crypto pie - Pawfury (PAW).

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