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<p>XRP price has remained relatively flat this week, down a modest 1% to trade around $0.54. Technical analysis shows that XRP recently broke out of a descending channel it had been stuck in since late November, marked by the blue lines on the price chart.</p>
<p>However, the price has failed to see any significant pumps and if the current direction continues over the next few weeks, XRP could enter into a sideways trading channel.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="538" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-1024x538.png" alt="" class="wp-image-442343" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-1024x538.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-300x158.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-767x403.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-1536x807.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-2048x1076.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-285x150.png 285w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-666x350.png 666w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836-788x414.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-836.png 1507w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Notably, the 200-day moving average currently sits at $0.56. As a reminder, the 200-day moving average is a widely followed technical indicator that smooths out price action to identify long-term trends. With <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> still below this level, it indicates the asset remains in bearish territory from a long-term standpoint.</p>
<p>Popular crypto analyst Dark Defender <a href="https://x.com/DefendDark/status/1760258875616338130?s=20" target="_blank" rel="noopener noreferrer nofollow">offered</a> an optimistic take on where XRP is headed next. In a recent tweet, he noted <em>“When #XRP was 17 cents, and we were calling the $2+ in 2021, people felt that XRP would never appreciate. XRP hit almost $2 at that time. ‘We called it the most significant wave B in crypto. XRP is expected to hit $5.85 as the average point, and people will say the same at that time. Wave 3: this run is in play.”</em></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-1024x576.png" alt="" class="wp-image-442335" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-1024x576.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-767x431.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-1536x864.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-2048x1151.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-267x150.png 267w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-623x350.png 623w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-835.png 1366w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Defender sees the recent price action as the end of the corrective Wave 2, with key support at $0.5198 to $0.5066. From there, he expects XRP to break out and tear through the daily Ichimoku Clouds en route to hitting initial targets at $0.6649, $0.7707, and $0.9191.</p>
<p>However, he views $5.85 as the next major inflection point where XRP will see another wave of extreme bullish momentum, akin to when it ran to nearly $2.</p>
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<p>In Defender’s view, the current consolidation sets the stage for the next leg in XRP’s ongoing bull market. And if his wave analysis proves correct, $5.85 serves as the midpoint target for the massive Wave 3 that could send XRP to unprecedented highs over the long-term.</p>
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<p>The post <a href="https://captainaltcoin.com/ripple-analyst-predicts-5-85-xrp-as-next-target-in-ongoing-bull-run-but-theres-a-catch/" rel="noopener noreferrer nofollow">Ripple Analyst Predicts $5.85 XRP as Next Target in Ongoing Bull Run – But There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ripple Analyst Predicts $5.85 XRP as Next Target in Ongoing Bull Run – But There’s a Catch

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