Crypto analyst Dark Defender has provided insight into how the XRP price can go up to $13. The analyst also suggested that the crypto token’s price could end up being well above that if other factors are taken into account.
How XRP will rise to $13
In a after on its X platform (formerly Twitter), Dark defender stated that the XRP price could reach $13 if the total crypto market cap reaches $23.24 trillion within a year. He noted how the crypto market has become more valuable year over year, as it rose from $816 billion a year ago to around $1.6 trillion today. As such, he expects a “third wave” to occur where XRP will rise with the tide.
The analyst also hinted that there is a possibility that XRP could go higher than $13 as this price level will be reached without taking into account its fundamentals. The foundations he was referring to were regulatory clarity and XRP’s utility. Gaining legal clarity on XRP is touted as one of its unique offerings and such that paints a bullish picture for the crypto token.
Going by Dark Defender’s projections, the XRP price could also double from the $13 price level by 2027, as the analyst estimates the total crypto market cap to reach $100 trillion by then. In a previous one afterthe analyst also raised the possibility of more institutional adoption of XRP, something that could also contribute to a significant increase in its price.
Token price starts another retrace | Source: XRPUSD on Tradingview.com
XRP Price Set to Take Advantage of Bitcoin’s Surge
Bitcoin rose to so high as $47,000 as approval of the Discover Bitcoin ETFs looks menacing. After BTC’s latest surge, crypto analyst CryptoInsightUK hinted that XRP could be next. He had previously laid out a bullish story for altcoins, including XRP, as he argued they could post significant gains if traders convert their gains into smaller market cap tokens.
He specifically noted that it could be time for XRP to shine, as the crypto token is closer than ever to a move upwards. Another reason why this move seems imminent is because the narrative in the crypto community is “terrible” for XRP, the analyst noted. As part of its 2024 predictions, CryptoInsightUk sees XRP rising to between $10 and $15 while BTC rises to $100,000.
He believes that the rally in the next bull run will be similar to that of 2017. Interestingly, the analyst had rather increased the possibility of XRP repeating a rally similar to 2017, when it posted a 61,000% gain.
At the time of writing, XRP is trading around $0.5724, up over 2%, according to facts from CoinMarketCap.
Featured image from Watcher Guru, chart from Tradingview.com
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