Axelar

2024

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In a thrilling turn of events, a top crypto market analyst going by the name Dark Defender, recently proclaimed XRP, a Ripple-backed cryptocurrency, to be potentially gaining a bullish momentum ahead and reaching $1, propelling immense optimism across the crypto space. Following a nearly 20% rally witnessed by XRP over the last month, February, the analyst’s comments appear to have garnered noteworthy attention among <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">crypto</a> market enthusiasts.
Meanwhile, the token traded in red as of press time, fueling speculations surrounding the analyst’s remarks. Derivatives data parallelly stirred a whirlpool of bearishness for the token as of writing.
<h2 id="dark-defender-s-post-contrasts-xrp-s-market-dynamics">Dark Defender’s Post Contrasts XRP’s Market Dynamics</h2>
According to the post shared by the analyst XRP on X, the target to be scaled today was $0.6462. However, the Ripple-backed token hit only $0.6256, coming as insufficient. This statement fell in line with XRP’s bearish movement today. However, the analyst shared further vital insights into XRP’s market dynamics.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Today is 1 Mar, &amp; <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> closed the monthly by breaking the Orange.
 We target $0.6462 today &amp; hit $0.6258, but this is insufficient.
 MACD is Bullish to continue towards Ichimoku Clouds, targeting $1 first &amp; then $1.88 as the Fibonacci level<a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> will bend The Spoon above $1.88. <a href="https://t.co/KKuNRea3Sg" rel="noopener noreferrer nofollow">pic.twitter.com/KKuNRea3Sg</a>
 — Dark Defender (@DefendDark) <a href="https://twitter.com/DefendDark/status/1763512002985533830?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The analyst proclaimed the MACD to be bullish, continuing its movement toward Ichimoku clouds. This paves the path for the initial target of $1, followed by the target of $1.88 as the Fibonacci level, per the analyst’s statement.
This birthed a tidal wave of speculations among crypto market fanatics across the globe as even though the analyst spotlighted XRP’s mediocre performance, the&nbsp; claiming of a potential bull run for the token ahead nabbed global attention, as $1 comes as a crucial price point for XRP.
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<h2 id="xrp-price-slips">XRP Price Slips</h2>
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> noted a drop of 1.16% over the past 24 hours and is currently trading at $0.5926. However, aligning with the past month’s remarkable performance, with weekly and monthly charts showcasing a 10.57% surge and a 19.88% surge, respectively, the analyst’s remarks sparked curiosity.
However, <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/currencies/XRP" target="_blank">Coinglass</a>‘ data showcased a downtrend for the token, as its price dropped along with a plunge in volume and open interest. The open interest declined 6.57%, reaching $790.12 million, whereas volume slipped 24.85%, reaching $3.22 billion. This birthed mixed inferences for the Ripple-backed token’s run ahead.
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The post <a href="https://coingape.com/xrp-price-top-analyst-predicts-xrp-bull-run-to-1/" rel="noopener noreferrer nofollow">XRP Price: Top Analyst Predicts XRP Bull Run to $1</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price: Top Analyst Predicts XRP Bull Run to $1

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