Analyst Supports Forecast Despite Market Corrections
In a recent remarkable report witnessed in the cryptocurrency world, a prominent crypto market analyst who goes by the name Dark Defender revealed that the bullish trend for XRP to reach $1 in April continues and attracts great attention. This sentiment, which comes amid significant price corrections witnessed in the broader crypto market, has sparked a massive wave of frenzy among crypto market traders and investors globally.
Diving Deeper into $1 Analysis
According to Dark Defender’s latest analysis of XRP’s price action using weekly timeframe candlestick charts, the price of the ripple-backed asset has reached a level that was previously considered resistance but is now acting as support. This underscores the potential bullish momentum for XRP; New resistance levels are $0.6044 and $0.6649, and support levels are $0.5731, $0.5381 and $0.4623.
The statement shared by Dark Defender immediately attracted significant attention in the broader crypto market, as the analyst appeared to be extremely optimistic about this date for some time. As previously reported by parofix Media, Dark Defender had claimed that the token would reach $1 in April, just before the market witnessed the beginning of this year’s crypto bull run. Additionally, the analyst continued to exhibit a sense of confidence in the expectation of XRP’s increased price movement in the coming period, despite the numerous corrections witnessed so far. This is what gradually attracted attention in the analyst’s words.
Meanwhile, as the BTC halving approaches, the broader market remains optimistic about a potential bull run for altcoins as well, as altcoins are noted to follow Bitcoin’s broader uptrend. This further strengthened the basis for the analyst’s prediction across the crypto horizon. Additionally, XRP reflected this optimism with notable gains over the past day.
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XRP Jumps
As of writing, the price of the XRP token has increased by 2.72% in the last 24 hours and is currently trading at $0.5882. This increase in the price of the Ripple-backed token brings it closer to $0.6, further aligning with the analyst’s prediction and increasing optimism among investors.
But interestingly, the analyst claims that XRP will reach $1 in April, despite the SEC’s recent call on Ripple in the XRP case and seeking penalties worth $2 billion. XRP’s slow performance is mainly attributed to regulatory uncertainty between Ripple and the US SEC. Relatedly, this statement made by the analyst during the SEC’s last call also triggered a whirlwind of speculation.
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