XRP Price Prediction: Can XRP Surpass Its All-Time High (ATH) This Market Cycle?

A top market analyst Dark Defender predicts that XRP can surpass its all-time high (ATH) this market cycle.

A top market analyst, Dark Defender, predicts that XRP can surpass its all-time high (ATH) this market cycle. His projections are based on a newly formed golden cross pattern on the weekly Relative Strength Index (RSI) chart.

The Stellar performance of XRP price has again put the coin in the limelight as the blowout in the market valuation of Bitcoin has set the coin and other altcoins on a bullish rampage. At its peak, the Ripple-backed coin has only hit an ATH of $3.841. Despite this bull cycle’s stellar performance thus far, the coin has yet to breach the $3.4 resistance level.

According to an X post by Dark Defender, the top coin may likely breach the $5.85 target in the long term. He pointed out the formation of the Golden Cross pattern on the weekly RSI on November 4 last year. Following this formation, the XRP price jumped from a low of $0.5029 to a multi-year high of $3.388. Months later, the coin recorded a similar pattern, signaling a big break that might set it up for a breakout. As reported earlier by CoinGape, different fundamentals, including the XRP whale accumulation, make this breakout more likely.

"The weekly RSI on $XRP formed a Golden Cross on November 4, 2022, after which price went on a massive bull run, pivoting up off the lows around $0.5 to new highs around $3.3. Now, another Golden Cross has formed again, setting up potentially for another big move.

"The immediate target is around $3.33, at which point we would also clear the 90-day drawdown of 5.63%. A bit further out, we have the 180-day drawdown at around $5.85, which is serving as a Fibonacci level."

After more than four months, Bitcoin price hit new ATH above $109,000, re-igniting the altcoin season many believed might have faded away. Another analyst, credible crypto minutes ago shared his analysis highlighting that XRP can mimic Bitcoin bull rally from $27k to $74k marking new all time high soon. He added that this rally would happen faster for XRP as compared to Bitcoin that took about 2 years.

With the BTC now in price discovery mode, it can directly impact the performance of the Ripple backed coin. At the time of writing, XRP price was changing hands at $2.433, up by 3.09% in the past 24 hours. The Ethereum challenger has maintained a low range during this period. It traded from a low of $2.357 to a high of $2.451 before settling at the current level. Many market experts have issued ambitious forecasts for the price of Bitcoin.

The more rallies the top coin prints, the better the chances of XRP to hit the Dark Defender target.