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XRP, a cryptocurrency backed by Ripple Labs, garnered significant investor interest today as its price rebounded following a noteworthy movement in the red. Intriguingly, amid this upward movement embarked upon by the Ripple-backed token, a renowned crypto analyst shared an optimistic prediction for XRP’s price ahead. 
The prediction, stating that XRP’s price target of $1.88 is within reach, quickly gained substantial attention across the broader crypto market. Let’s take a closer look at Dark Defender’s analysis of XRP’s price, which anticipates the token reaching $1.88 in the near future. 
<h2 id="span-data-preserver-spaces-true-dark-defender-says-1-88-price-target-getting-closer-span">Dark Defender Says $1.88 Price Target ‘Getting Closer’</h2> 
In a recent post, the analyst spotlights a detailed analysis of <a rel="nofollow" href="https://www.defenddark.net/post/target-1-88-getting-closer" target="_blank">XRP’s weekly time&nbsp;frame</a>, indicating that the cryptocurrency is edging closer to its target of $1.88, according to the Elliott&nbsp;Wave&nbsp;theory. The analysis highlights vital Fibonacci levels, with XRP managing to maintain its position above the critical 38.20% level&nbsp;at&nbsp;$0.4623. Despite the last Fibonacci Level at $0.3917 while XRP was in correction, the token’s current movement adds a bullish tint among investors. 
Further, attention was brought to a potential Triangle formation, with $0.5286 identified as a pivotal&nbsp;support&nbsp;zone (Blue Support) for the token. Should XRP remain above this support level, the analyst anticipates a breakout, potentially fueling the XRP’s price rally towards $1, marking the bottom of the Weekly Ichimoku Clouds.&nbsp; 
<img decoding="async" class="aligncenter wp-image-194973" src="https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Chart-Dark-Defender.png" alt="XRP Price Chart Dark Defender." width="635" height="342" srcset="https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Chart-Dark-Defender.png 1361w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Chart-Dark-Defender-300x162.png 300w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Chart-Dark-Defender-1224x659.png 1224w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Chart-Dark-Defender-768x414.png 768w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Chart-Dark-Defender-150x81.png 150w" sizes="(max-width: 635px) 100vw, 635px"> 
Moreover, the analysis suggests that following the topping of $1, Wave 3 targets could extend even further, with the token scaling $5.85 and $18.22, per the Elliott theory guidelines. These remarks appear to have ignited a sense of frenzy among crypto market participants globally, although it’s worth mentioning that Dark Defender also claimed <a href="https://coingape.com/xrp-1-april-analyst-upholds-forecast-despite-market-corrections/" target="_blank" rel="noopener">XRP to hit $1 in April,</a> which didn’t happen. Nonetheless, the analyst continues proclaiming that the $1 target is definitely ahead for XRP, piquing considerable interest. 
Also Read: <a href="https://coingape.com/shiba-inu-news-shibarium-hits-new-milestone-with-bor-heimdall-hard-fork/" target="_blank" rel="noopener">Shiba Inu News: Shibarium Hits New Milestone With Bor &amp; Heimdall Hard Fork</a> 
<h2 id="span-data-preserver-spaces-true-xrp-price-springs-span">XRP Price Springs</h2> 
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP token’s price</a> trajectory illustrated gains worth 2.34% in the past 24 hours and is currently trading at $0.5243. However, Coinglass revealed a 1.13% dip in XRP’s open interest, followed by a derivatives volume plunge of 40.68%. 
This primarily aligns with XRP’s highly volatile movement in recent days, further birthing mixed sentiments among crypto market traders and investors. Whereas, <a href="https://coingape.com/xrp-price-whale-shifts-60m-coins-ripple-files-motion-what-next/" target="_blank" rel="noopener">whale activity</a> surrounding the token is also on the rise, adding to the enigma surrounding XRP’s price action ahead.&nbsp; 
Also Read: <a href="https://coingape.com/robert-kiyosaki-potrays-crypto-market-crash-as-time-to-get-rich/" target="_blank" rel="noopener">Robert Kiyosaki Portrays Crypto Market Crash As “Time To Get Rich</a> 
The post <a href="https://coingape.com/xrp-news-analyst-predicts-xrp-hit-1-88-amid-price-rebound/">XRP News: Analyst Predicts XRP To Hit $1.88 Amid Price Rebound</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP News: Analyst Predicts XRP To Hit $1.88 Amid Price Rebound

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