XRP is currently undergoing a correction after a six-week rally, having recently peaked at $2.82**—its highest price since January 2018. Despite a **12% drop** in the last 24 hours alongside Bitcoin surpassing **$100,000, analysts remain bullish. Crypto expert Dark Defender predicts an 80% surge based on Fibonacci metrics, highlighting key price targets and support levels.
Fibonacci Analysis: Key Price Targets
Using the XRP/USD 4-hour chart, Dark Defender identified:
- 261.8% Fibonacci extension level as the correction trigger.
- Price targets at $2.92** (27.5% increase) and **$3.99 (80% increase).
- Breaking $3.99** would surpass XRP’s **all-time high of $3.40, unchallenged for seven years.
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Critical Support Levels
- $2.27** and **$2.13 (161.80% Fibonacci level).
- The latter marks the potential end of the Wave C corrective phase (Elliott Wave theory).
Market Sentiment and Catalysts
- Current price: $2.30 (12.3% drop).
- Weekly gains: 351%, with bullish sentiment intact.
- RLUSD launch: Ripple’s stablecoin awaits NYDFS approval, adding optimism.
FAQ
Q: Why is XRP correcting after its rally?
A: Corrections are typical after sharp gains; the 261.8% Fibonacci level triggered this pullback.
Q: What are XRP’s next price targets?
A: $2.92** (27.5% rise) and **$3.99 (80% rise), with the latter breaking its all-time high.
Q: What supports XRP’s bullish outlook?
A: Strong Fibonacci metrics, Wave C completion, and RLUSD’s pending launch.
👉 Learn more about trading XRP with expert insights
Disclaimer: This content is for educational purposes only—not financial advice. Always conduct independent research.