After Bitcoin’s sudden price spike, the altcoins are following in its stead, rising above the occasion in a literal sense. XRP is also banking on the current price momentum, spiking by nearly 3% to trade at a pivotal level of $0.53.
By crossing the threshold of $0.50, XRP has crossed one major milestone and is now awaiting a trigger moment that it could seize to launch a breakthrough.
Also Read: A White Triangle Forms On Ripple XRP: How High Will It Trade Now?
Analyst Insights on Ripple: $1.88 On Cards For XRP?
Per Dark Defender, a notable crypto analyst on X, Ripple is poised to surge 250% to hit $.1.88 soon.
The expert’s ambitious claim stems from XRP’s recent price spike, which helped the token cross the $0.50 price level. Per Dark Defender, XRP may now move towards the $0.60 mark without encountering any friction by breaking its initial price resistance at $0.50.
Dubbed the initial Fibonacci resistance level, XRP has crossed the $0.50 mark, which can be referred to as a crucial juncture for the token to cross and make peace with. Per the expert, an XRP price rally is expected anytime, given the structure and momentum that support its hike toward $1.88.
“Hi all. We started the week by breaking the initial weekly resistance. #XRP has no obstructions until $0.6044, which is the initial Fibonacci resistance. We expected to see it last week, but it was again silent. Let’s see how it works this week. As we are all aware, this structure targets $1.88 first.“
What Do Technical Platforms Suggest?
While the Dark Defender’s compelling analysis stirs hopes within the crypto community, technical platforms like CoinCodex predict a new narrative. Per the platform, XRP may spike to hit $0.64 by June 20, after which investors can hope to see some crucial price action for Ripple.
“The price of XRP may rise by 20.70% and reach $0.646569 by June 20, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 76 (extreme greed). XRP recorded 13/30 (43%) green days with 2.38% price volatility over the last 30 days.”
Per Coincodex, Ripple may hit $1 by the end of 2024, trading around 1.66 in the process.
“XRP is forecast to trade within a range of $0.339014 and $1.669114. If it reaches the upper price target, XRP could increase by 211.38% and reach $1.669114.“
Also Read: Gold Prediction: What’s In Store For XAU? A New ATH Or A Price Decay?
However, the tables may turn for the better if the investors avail themselves of an elemental update on the Ripple vs. SEC case. This development can shift the pricing strategy around to either boost Ripple or tank it, depending on the repercussions of the legal case.