Since the beginning of the year, the Ripple (XRP) price has experienced a rollercoaster of ups and downs, leaving XRP holders and the community with many questions about its future. XRP is down 8% and 12% on a weekly and monthly scale respectively. Currently, the coin is below $0.60, a critical level that marks the side-by-side consolidation phase.
However, popular analyst Dark Defender remains bullish on XRP and believes that levels above $1 are still possible targets for the main asset. However, the coin could retest levels below $0.54 as indicated by the recent Fibonacci point.
Dark Defender noted that its bullish analysis is based on key technical indicators and historical data such as RSI and Elliot Waves. He then split several price levels in different Waves and predicted prices of $0.97 and $1.5.
Echoing a similar sentiment, popular analyst EGRAG CRYPTO identified two possible scenarios for XRP in the coming months: either a rise above $0.75 or a decline below $0.44. However, Dark Defender does not see a scenario where the asset will fall below $0.50.
Two important events that could shape the price and future of XRP are the Bitcoin halving planned for the end of April and the outcome of the lawsuit between Ripple and the SEC. If lost, it could redefine the entire crypto industry and impose strict regulations for the future.