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

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.

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.

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 XRP still below this level, it indicates the asset remains in bearish territory from a long-term standpoint.

Popular crypto analyst Dark Defender offered an optimistic take on where XRP is headed next. In a recent tweet, he noted “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.”

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.

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.

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

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.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!