XRP Bulls Roar: Analyst Foresees Explosive Surge With ‘God Candle’ On The Horizon
April 18 2024 - 2:00PM
NEWSBTC
XRP investors are eyeing a potential price surge, and one analyst
forecasts an optimistic outlook for the cryptocurrency. Dark
Defender, a prominent figure in the XRP community, has drawn
parallels between the current market movement and the 2017 historic
rally. According to Dark Defender, this resemblance suggests a
significant upward trajectory for XRP, potentially culminating in
what he refers to as a “God Candle.” Related Reading: XRP Price
Recovery Could Soon Fade, These Are Key Levels To Watch Market
Analysis And Forecast: A Closer Look At XRP’s Future Dark
Defender’s analysis centers around the observation that the current
market dynamics echo the 2017 cryptocurrency boom, characterized by
substantial shifts in digital asset valuations. During this time,
XRP experienced a notable ascent from mere fractions of a cent to
over $3, reaching an all-time high in January 2018. Drawing from
this historical context, Dark Defender suggests that XRP’s current
sideways movement may indicate an impending surge, highlighting
consistent Fibonacci points as evidence of potential price targets.
This moment is not just a coincidence, it’s a Deja Vu. A Deja Vu
that takes us back to 2017, a time of significant shifts in the
cryptocurrency market. We had one of the most extended sideways but
the targets and the support Fibonacci points are still the same. I
have added the… pic.twitter.com/rnWanciV1i — Dark Defender
(@DefendDark) April 17, 2024 While recent market activity has seen
XRP’s value decline by approximately 22% over the past week, with
prices dipping from last Thursday’s $0.60 to as low as $0.44 during
the weekend, there are signs of resilience within the altcoin. In
the early hours of today, XRP exhibited a modest uptick, posting a
marginal increase of around 1.2% and reaching a 24-hour high of
$0.50. However, at the time of writing, the altcoin has retraced
back down by 0.4% with a current market price of $0.49. XRP Market
Sentiment Amidst this fluctuation, XRP whales have demonstrated a
bearish sentiment. Particularly, Whale Alerts, a whale transaction
tracker, has recently shared significant transactions on social
media platform X, highlighting the movement of large volumes of
tokens. One notable transaction involved the transfer of 158
million tokens valued at $77 million from a private wallet to the
Binance crypto exchange. This sizable transfer raised concerns
among investors anticipating a shift from a bearish trend to a
bullish surge. Additionally, another transaction involved the
transfer of 28.9 million XRP, equivalent to $14.2 million, to
Bitstamp. Despite the prevailing bearish sentiment, cryptocurrency
analyst Javon Marks, similar to Darkdefender, has revealed his
optimistic outlook on the altcoin. Related Reading: XRP Price Set
For 3,000% Rally To $22, Analyst Predicts Marks, previously
recognized for his bullish stance on the altcoin, recently adjusted
his predictions, envisioning a 400x surge in XRP’s price. His
forecast projects the altcoin to soar to roughly $288. With a Full
Logarithmic Follow through, prices of $XRP (Ripple) may be more
than poised for $200+. Prices of Ripple went on an over +108,000%
run in the 2017-2018 run and has since setup and broke out of its
largest resisting structure EVER! A mind-boggling, +33,030% run
from… https://t.co/RWklG3ALh0 pic.twitter.com/r1Jie98X9s —
JAVON⚡️MARKS (@JavonTM1) April 5, 2024 Featured image from
Unsplash, Chart from TradingView
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024