According to CryptoPotato, Ripple (XRP) has experienced significant price fluctuations since the start of the year, causing uncertainty among its holders and the XRP community. The cryptocurrency has seen an 8% and 12% drop on a weekly and monthly basis respectively, and is currently trading below $0.60, a critical level marked by a phase of sideways consolidation.
Despite the recent downturn, popular analyst Dark Defender remains optimistic about XRP's future. He believes that the cryptocurrency could still reach levels above $1. This bullish analysis is based on key technical indicators such as the Relative Strength Index (RSI) and Elliot Waves, as well as historical data. Dark Defender has divided several price levels into different waves and has forecasted prices of $0.97 and $1.5. He further breaks down these targets into smaller chunks, with Wave 3 at $0.9772 & $1.5048 and Wave 5 at $2.3172. However, these predictions do not alter the $1.88 or $5.85 targets, but they do provide an understanding of different wave structures.
Another analyst, EGRAG CRYPTO, has outlined two possible scenarios for XRP in the coming months: a surge above $0.75 or a dip under $0.44. However, Dark Defender does not foresee a scenario where the asset falls below $0.50.
Two significant events that could influence XRP's price and future are the Bitcoin halving, scheduled for the end of April, and the outcome of the Ripple vs. SEC case. If Ripple loses the case, it could lead to a redefinition of the entire crypto industry with the introduction of stricter regulations.