Analyst Predicts Ripple XRP to Skyrocket 200% and Reach $1.88

• Crypto Analyst's Prediction: XRP Could Surge to $1.88
• Cup and Handle Pattern Indicates Bullish Momentum
• XRP's Support Level: Key for Future Growth
• Potential Rise in XRP Value
• XRP's Futures: A Spike in Mass Adoption?
• Robinhood's Possible Listing of XRP in 2024

Crypto Analyst's Prediction: XRP Could Surge to $1.88

Cup and Handle Pattern Indicates Bullish Momentum

As per the predictions made by a prominent crypto analyst, Dark Defender, XRP$0.620 -1.68% has the potential to reach the $1.88 mark in the near term. This would represent a significant growth of approximately 209% from its current standing. A notable point is the formation of a 'cup and handle' pattern in the token's daily chart, which is typically indicative of bullish market activity.

The targets of $1.05 and $1.88 were established by Dark Defender through the application of Elliott Waves. This bullish momentum was given a boost with the commencement of the first leg of the cup pattern, following a pro-Ripple verdict in the SEC vs Ripple legal case. Judge Analisa Torres concluded that the sale of XRP to non-institutional investors did not fall within securities law, although the sale to institutions was deemed as such.

XRP's Support Level: Key for Future Growth

Dark Defender emphasized the position of the handle of the cup pattern at the $0.6044 support level. For the token to reach its set target, it must maintain its position above this support level for two consecutive days. The handle, however, may potentially break below this level to extend to the next support at $0.5286. Despite this, the primary structure is asserted to still be in place.

Potential Rise in XRP Value

The short-term target set by Dark Defender is $1.88, which suggests that we could witness the value of the token rise above $1 very soon. Additionally, Changelly predicts that XRP could surge beyond the $1 mark by 2024, indicating a potential rally of more than 50%.

XRP's Futures: A Spike in Mass Adoption?

XRP's legal classification as a non-security can potentially lead to an increase in interest from investors, particularly for remittance and cross-border transfers. In light of this, some analysts predict that XRP could escalate to an impressive $3.8, marking a staggering growth of over 500% from its current levels.

Robinhood's Possible Listing of XRP in 2024

Rumors of Robinhood, one of the leading crypto exchanges, listing XRP in the first quarter of 2024 have been circulating. This potential development could contribute to a significant increase in new investors for the asset, fostering a sudden spike in its value.

Edited by Jonathan Stoker