XRP Price Breaks Out: Analyst Forecasts Impressive Rally to $5.85 If This Happens

XRP Price Breaks Out On The Daily Chart, Rise To $5.85 Is Possible If This Happens

In a stunning turn of events, the price of XRP has broken out on its daily chart, setting the stage for another upward surge towards higher resistance levels. According to Dark Defender, an analyst who has accurately predicted previous market movements, this breakout could be the catalyst that drives XRP to new heights.

The initial hurdle for XRP would be to break above $2.72 and retest its current 2024 high of $2.92. If successful in achieving this milestone, the token would open up the possibility of reaching new price highs not seen since over six years ago.

However, if the XRP price successfully breaks through the $2.92 mark, Dark Defender predicts a sure climb towards $3.43 as an intermediate target, which is currently its all-time high that has stood for over seven years. From this point, the analyst expects continued bullish momentum to propel the token to a long-term target of $5.85.

At the time of writing, XRP is trading at $2.51 with a market cap of $144 billion. Reaching $5.85 would represent a significant 133% increase in price and a corresponding market cap of $351 billion.

Source: bitcoinist.com