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XRP Price Breaks Out On The Daily Chart, Rise To $5.85 Is Possible If This Happens
In a recent analysis, Dark Defender has provided an update on the XRP price chart, indicating that it is poised for another upward surge. According to the analyst, a successful break above $2.72 and retest of its current 2024 high of $2.92 would set the stage for yet another increase in value.
The prediction suggests that once XRP breaks through these resistance levels, it will continue to rise towards new highs. In fact, if this occurs, Dark Defender predicts a climb toward an intermediate target of $3.43, which is its current all-time high price that has remained unchanged for over seven years.
Notably, the analyst believes that this upward momentum would ultimately drive XRP to a long-term target of $5.85. Such a move would represent a significant 133% increase in price and a corresponding market capitalization of $351 billion.
The current market value of XRP stands at around $144 billion, indicating a substantial increase if the predicted rise materializes.
To date, XRP has shown resilience despite bearish pressures, suggesting that it may be poised for another leg up.
Source: bitcoinist.com
