Crypto analyst Dark Defender has predicted a significant price surge for XRP, forecasting that it could rally to $8 in the coming months. This prediction comes as speculations rise around the potential approval of XRP exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Here's a closer look at what’s driving this optimistic outlook for XRP.
$8 Rally Prediction
Dark Defender shared a bullish outlook for XRP, forecasting it could reach $8, marking a new all-time high. He noted that XRP’s structure has remained consistent over the past 18 months, suggesting it could follow its expected path. Fibonacci levels, including $5.85 and $8.76, are key points of support and resistance.
Currently XRP Price trading at $2.46 as per Coinpedia Market data.
For a more detailed XRP price prediction, check out our full analysis!
XRP ETF Approval Impact
The potential approval of XRP ETFs by the SEC could significantly boost XRP’s price. ETF approval would likely attract institutional investors, increasing demand for XRP and pushing its price higher, potentially towards $8.
Bullish Outlook from Egrag Crypto
Analyst Egrag Crypto also predicts positive price movement for XRP. He highlighted XRP’s position above an ascending channel and indicated that key indicators like the Stochastic RSI and OBV signal increased buying pressure and a bullish trend.
With XRP ETF speculations and bullish technical indicators, XRP’s price may soon see significant growth. A rally to $8 is within reach if developments unfold as expected.
