The past 24 hours have been difficult for XRP holders. A sharp 5.8% drop in prices has brought assets closer to a critical test About $2 support, Due to sales pressure that currently controls XRP trading volume. Though emotions are bearish, one analyst is confident in the long-term trajectory of cryptocurrency, predicting that Altcoin is still on track You’ll reach the newest ever.
Analysts highlight it as a breakout level with $2.222
Famous Crypto-Analyst Dark Defender I took it to social media platform x Even as the token is tackling short-term volatility, he repeats his bullish outlook for XRP. He said the tokens have reached the lowest Fibonacci levels after the recent recession, suggesting that this could be a major pivot point. He described $2.222 as an important level of resistance, suggesting that a breakout above could lead to a new wave of bullish momentum.
During his post, XRP was trading for around $2.18. This rejection marked the beginning of a new rejection. This ultimately lowered the XRP to the lowest Fibonacci threshold that he laid out in his previous predictions. However, Dark Defender added that Altcoin may not have been happening in the retracement phase yet. He said there remains a possibility that the current structure will drop further to the $2.04 previously identified as the final Fibonacci level.
For now, Altcoin has hovered around this $2.04 zone, making it a critical territory for the bull. Whether this level is retained or given it can determine the short-term direction of XRP price transfer.
Despite the bearish momentum, still $5 to $8 for XRP as a wave 5 target
in spite of Continuous price adjustmentsDark Defender maintained its forecast from the XRP price range of $5 to $8, matching this target with the ongoing fifth wave forecast completion of the Elliott Wave Count structure. The current wave structure suggests that April and May could be months where we are seeing explosive growth despite most traders now adopting a bearish attitude.
This bearish attitude is particularly notable for the fear and greedy index of the crypto market. This is currently at 24 fear levels. But the dark defender pointed out that bear market sentiment isn’t necessarily a bad sign. In fact, he explained it General bearish outlook It is owned by 90% of market participants As “great” It implies that it might set the stage for a surprising turnaround.
At the time of writing, XRP has traded for around $2.05, exceeding 5.7% in the last 24 hours and over 15.8% in the last week. Trading volumes also fell 17% over the past 24 hours.
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