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<p>XRP has been under scrutiny as market analysts observe key indicators suggesting the potential for a price surge. An analysis by crypto analyst Dark Defender highlights the possibility of <a href="https://captainaltcoin.com/can-xrp-price-really-reach-27-ripple-analyst-reveals-path/" target="_blank" rel="noopener noreferrer nofollow">XRP reaching a target price</a> of $18.22, reminiscent of its historic 2017 bull run.</p>
<h2 class="wp-block-heading" id="strong-xrp-price-analysis-strong"><strong>XRP Price Analysis</strong></h2>
<p>In his tweet, Dark Defender emphasized the prolonged <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">consolidation of XRP</a> between $0.6649 and $0.3917, a range that has held strong support and resistance for the crypto.&nbsp;</p>
<p>The analyst pointed out that the weekly RSI dips have mirrored price movements, forming a bullish pattern. This parallel between price dips and RSI lows, coupled with a weekly RSI golden cross, indicates a potential upward trend.</p>
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   <p lang="en" dir="ltr">It has been a long time since <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> has been consolidating between $0.6649 &amp; $0.3917.<br><br>In the weekly time frame, RSI dips formed parallel with the price dips. Weekly RSI golden cross is in place.<br><br>We have consistently emphasised the importance of the $0.6649 level. This level,… <a href="https://t.co/qom6EF5IC3" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/qom6EF5IC3</a></p>— Dark Defender (@DefendDark) <a href="https://twitter.com/DefendDark/status/1830627642954993682?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 2, 2024</a>
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<p>Dark Defender’s analysis suggests that the $0.6649 level is a crucial marker <a href="https://u.today/ripple-ceo-teases-major-improvements-for-xrp-ledger" target="_blank" rel="noopener noreferrer nofollow">for XRP</a>. This level is positioned above the weekly Ichimoku clouds, an indicator often used to identify support and resistance.&nbsp;</p>
<p>According to the analyst, a breakout above this level could trigger a bullish run. This could lead to a target of $18.22, as predicted by the Elliott Wave Theory and Fibonacci retracement levels.</p>
<h2 class="wp-block-heading" id="strong-key-technical-indicators-strong"><strong>Key Technical Indicators</strong></h2>
<p>Dark Defender incorporates the Elliott Wave Theory as a means of analyzing charts by defining the market movements in the form of waves. The current forecast for <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> is that it is currently in the formation of Wave 3 which is the strongest wave of the five-wave pattern.</p>
<p>The analyst also notes that if this pattern goes through, XRP could repeat the same as in the year 2017 where the price of the token surged.</p>
<p>Furthermore, the primary Fibonacci retracement levels have been also included in the analysis including the 50% (0.5286) and the 61. 8% ($0. 6649) level. These levels serve as critical points of support and resistance, with the latter being essential for initiating a bullish breakout.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/how-much-will-cardano-ada-token-be-worth-when-bitcoin-hits-100k/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>How Much Will Cardano (ADA) Token Be Worth When Bitcoin Hits $100K?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-a-potential-bull-run-ahead-strong"><strong>A Potential Bull Run Ahead?</strong></h2>
<p>Dark Defender makes a strong case for a potential bull run. He does this by comparing the state of the XRP market with that of 2017.&nbsp;</p>
<p>The Elliott Wave projection, the RSI golden cross alignment, and the stock’s placement above the Ichimoku cloud all point to a potential price surge for XRP.&nbsp;</p>
<p>The analyst identifies $0.6649 as the key level to watch; a sustained breakout above this point could pave the way for XRP to reach the ambitious target of $18.22.</p>
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<p>The post <a href="https://captainaltcoin.com/is-xrp-price-ready-for-a-2017-like-bull-run-ripple-analyst-eyes-18-22-target/" rel="noopener noreferrer nofollow">Is XRP Price Ready for a 2017-Like Bull Run? Ripple Analyst Eyes $18.22 Target</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is XRP Price Ready for a 2017-Like Bull Run? Ripple Analyst Eyes $18.22 Target

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