XRP price has reached a market cap of $100 billion again, providing a bullish outlook for crypto, which has been one of the best-performing crypto assets in recent times. Crypto analysts like Dark Defender have provided insight into what could happen next for XRP.

XRP Price May Rise to the Next $5

In an X post, crypto analyst Dark Defender suggested that the XRP price could rise as high as $5 in the next leg of the uptrend. This comes as he noted that the initial $1.8 target for XRP in this bull run was met, leading to the crypto reaching a market cap of $100 billion.

With the initial target gone, XRP could reach $5.8, which is highlighted as one of the median targets on Dark Defender’s accompanying chart. Interestingly, the chart also highlights $18 as the average target, indicating that the coin could reach that level at some point.

Dark Defender also used his recently. Elliot Wave theory analysis To illustrate how XRP could reach $18 this market cycle. The chart showed that this parabolic rally would occur during the upward spike of Wave 5.

Meanwhile somewhere else x postThe crypto analyst warned about how critical the $1.8815 Fibonacci level is in the short term. He noted that XRP price touched $1.9508 and then returned to this Fib level. In line with this, he stated that the crypto should remain above $1.8815 for at least three candles.

According to Dark Defender, the first step is to stay above this level for 12 hours, then close above this level for 3 days. A sustainable close above this Fib level could confirm that this is an important support level and push XRP to new highs.

It is worth noting that in the midst of the recent XRP rally: Crypto reverses BNB Being the fifth largest cryptocurrency by market capitalization. Dark Defender believes that XRP could reverse Solana and become the fourth largest cryptocurrency by market cap. The analyst had previously boldly predicted that the cryptocurrency would reverse Ethereum at some point.

Double Digit Price Target on the Horizon

Crypto analysts such as Egrag Crypto and Mikybull Crypto have also suggested that a double-digit price target is on the horizon for the XRP price. Egrag Crypto stated in its analysis that FOMO would be sparked if XRP closes above the $2 level.

He added that if history repeats itself, XRP will likely trade in double digits between $20 and $27. From the accompanying chart, the analyst appears to be referring to the 2017 bull run, during which XRP recorded massive gains towards its current all-time high of $3.8 (ATH).

Crypto analyst Mikybull Crypto also noted in a post that the XRP price is giving off 2017 rally vibes. Based on this, the analyst predicts that XRP will reach $2 and then experience a pullback before continuing its “vertical hated rallies”, possibly towards a new cycle top of $10.

In another post, X told market participants to watch what happens after XRP breaks a new ATH. The crypto analyst added that the massive rallies of 2017 are about to be revealed before everyone’s eyes. While XRP is currently flying high, a recent CoinGape market analysis also raised the possibility of XRP rising. Crypto’s ATH is coming soon.

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Boluwatife Adeyemi

Boluwatife Adeyemi is an experienced crypto news writer and editor who covers topics related to DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has the ability to simplify the most technical concepts and make them easier for crypto beginners to understand. Far from writing, he is an avid basketball lover and a part-time genius.

Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.