Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto analyst Dark Defender has issued a bold outlook for XRP, stating on X that the asset is on a clear path toward multiple upside targets. His remarks come at a time when the asset bulls are trying to hold a support level at $2.42, with technical patterns suggesting the asset may be preparing for a significant breakout. 

XRP Faces Minor Resistance on the Way to $2.75, $5.85 in Sight

XRP’s price action is starting to see some positive note, recently pushing as high as $2.56 in a 7-day timeframe. Although it met resistance and reversed on a downtrend early last week, it eventually found support at $2.36 and started a fresh uptrend. This up-and-down movement is seemingly an average price action playout, but technical analysis on the daily candlestick timeframe chart shows that the price quietly changed a downward sloping resistance trendline into support at $2.36.

Now, the next outlook for the altcoin is an upward movement after this fresh uptrend above the resistance trendline. With this in mind, crypto analyst Dark Defender predicted that the cryptocurrency is on the road to $5.85. The analyst also highlighted, a closer price target at $2.75, though noting that XRP may experience some difficulty breaking through $2.55. 

The predicted difficulty at $2.55 is in response to its rejection last week. However, Dark Defender’s phrasing was straightforward; “XRP looks excellent,” reflecting strong conviction in the token’s current setup after his analysis.

Exponential Fibonacci: $5.85 Isn’t The Limit For The Altcoin

Dark Defender’s prediction of a $5.85 price target for XRP would see the crypto breaking above its current all-time high. However, this pales in comparison to the analyst’s long-term projection.

The projection to $5.85 is only one part of Dark Defender’s broader analysis. In a previous post, he outlined a more ambitious long-term scenario using exponential Fibonacci levels and Elliott Wave theory. According to him, the common belief that XRP cannot exceed $10 is a misunderstanding of exponential modeling. He argued that the altcoin is currently in an impulse wave 3 on a multi-year timeframe. If wave 3 fully extends during this phase, it could reach $77.7, with wave 5 targeting a three-digit price zone.

His roadmap emphasizes staying above the $2.3951 median, a level he says has been in play since November. From there, the chart suggests a run to $8, which could lead the asset toward a new range between $18 and $23. These projections are based not only on wave extensions but also on volume trends, RSI behavior, and repeating historical patterns, which the analyst believes all align to support an incoming rally.

At the time of writing, XRP is trading at $2.42.

Featured image from iStock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Bitcoin flirted around with the magic $100K number for a couple of months before selling off and falling all the way to $80K this week. This caused some investors to panic and rethink their bullish sentiment, but all’s not lost for crypto enthusiasts.

A recent Matrixport analysis says that although the current market dump might last a little bit longer, all the way through March and into April, that’s not exactly an issue considering the long-term potential Bitcoin’s been showing.

Let’s unpack why the current Bitcoin correction isn’t necessarily negative, or even unprecedented.

Reasons for Bitcoin Falling

Right off the bat, it’s important to note that the recent sell-off isn’t exclusive to crypto; the broader market, including the three US stock market indexes, fell sharply in the last five trading days.

The biggest catalyst for this has been Trump’s tariffs. While his initial announcement of reciprocal tariffs on Canada and Mexico rattled the markets, his recent reaffirmation of these tariff hikes added fuel to the fire, eventually driving $BTC to break its two-month-long channel towards the downside.

Understanding the effect of tariffs on investor sentiment is simple. Tariffs increase the price of goods, creating global tensions and disrupting supply chains. Put together, all this jacks up market volatility, which is what we’re seeing now.

As a result of this financial turmoil, the US dollar has strengthened quite a lot. The US Dollar Index (DXY) shot up for three days straight, signaling that traders are looking for a safer investment avenue.

As Matrixport said in its report, ‘A stronger US dollar causes this liquidity measure to decline, which suggests downward pressure on Bitcoin prices.’

Excellent Opportunity to Buy the Dip

With $BTC down, it’s no surprise that ‘buy the dip’ chants are echoing loud and clear. Investors, both short-term and long-term, are considering accumulating Bitcoin now that it’s available at a ‘discount.’

Plus, Santiment’s sentiment tracker found that the mentions of ‘buying the dip’ are at their highest since July 2024. It’s worth noting what happened in July-September 2024. Bitcoin claimed new highs, went sideways, threatened to dip lower but pulled back every single time, and then eventually rallied to fresh milestones.

We could be seeing an almost exact replica of this now, meaning the current dip could ultimately prove to be a healthy correction before the next leg up higher sets in.

Additionally, business legends like Michael Saylor have advised against selling Bitcoin. Then, Standard Chartered issued a $500K target for Bitcoin. So, all in all, the attitude is definitely positive for Bitcoin.

If you’re also looking to buy the dip and do so successfully, investing in crypto presales is one of the better decisions to make, as they’re not affected by market volatility.

While we’re at it, we’d suggest focusing on projects that are closely tied to Bitcoin (and the larger crypto market), seeing as that’s how you’ll be able to reap in handsome yields once the bull run kicks in. Enter BTC Bull Token ($BTCBULL).

BTC Bull Token – A Unique Altcoin to Rally Behind Bitcoin

BTC Bull Token is a new cryptocurrency that has taken the industry by storm. After all, it’s the ONLY project out there offering free $BTC airdrops as Bitcoin surges past new price points.

Simply put, once you’ve bought $BTCBULL tokens and stored them in Best Wallet, you’ll get free $BTC once Bitcoin crosses $150K, $200K, $250K, and so on.

Given that BTC Bull is directly tied to Bitcoin, it’ll undoubtedly benefit from the OG crypto’s growth. Additionally, the biggest reason we believe it could be the next crypto to explode is that it offers Bitcoin maximalists a cost-effective way to support Bitcoin’s rally.

Why Is $BTCBULL the Next 100x Coin?

Early investors won’t just see a price appreciation of their $BTCBULL tokens but also benefit from free $BTC, which is also only going to increase in value.

Speaking of $BTCBULL’s price, the token is also set to benefit from the project’s deflationary model. Essentially, the developers will burn a part of the total token supply once Bitcoin reaches $125K, $150K, $175K, etc. A continuous reduction in supply will inflate the token’s demand and ultimately boost its trading price.

What’s more, you also don’t have to worry about the project falling out of favor among crypto enthusiasts. That’s because the BTC Bull team has reserved 40% of the supply for PR and marketing. Not to mention that the fundamentals of the project itself, i.e., handing out free $BTC, are going to send the market in a frenzy.

Check out $BTCBULL’s whitepaper and X feed for more information.

Everything considered, the need for proper risk management never subsides. We urge you to only invest a small amount and then scale in once you’re confident in your investments.

Additionally, none of the above is financial advice, and you must always do your own research before investing.