Expert Defends $280 XRP Price Prediction, Updates Target To $333
Crypto expert Dark Defender maintained his ultra bullish stance that the XRP price could rally to as high as $280 at some point. Interestingly, the expert has even updated his XRP price prediction, stating that the crypto could reach $333.
Expert Defends $280 XRP Price Prediction
Dark Defender has defended his $280 XRP price prediction following criticisms from the crypto community. In an X post, the expert reacted to a post by another crypto expert who seemed to mock the prediction. He stated that the pattern is close to $280 but added that the precise Fibonacci level sits at $333, indicating that XRP could reach this price level.
As CoinGape reported, Dark Defender had laid out a bullish XRP analysis yesterday, suggesting that the crypto could replicate its 2017 bull run performance again. His accompanying chart showed that the coin could reach as high as $280. However, based on his recent statement, XRP could surpass this price target and reach $333.
One of the major criticisms regarding this XRP price prediction is the market cap, which the crypto would have to attain to reach this price target. For context, based on the crypto’s current circulating supply, XRP’s market cap would sit around $1.6 trillion if its price reaches $280.
However, the expert suggested that the total market cap doesn’t matter in this regard. According to him, the total market cap doesn’t mean that much amount of money poured into the asset. He gave an example and then remarked that market cap in crypto is an illusion.
An Insight Into The Current Price Action
Amid this development, crypto analyst CrediBULL Crypto has provided insights into the current XRP price action. The analyst noted that the crypto has witnessed a pullback from range highs back to prior flipped resistance levels, which should now act as support.
He remarked that holding these levels as support would be incredibly bullish. However, if XRP loses this support zone, the analyst remarked that it is almost certain that the crypto will drop below $2 again, which he claimed would make for an “epic buy opportunity.”
CrediBULL Crypto stated that it is a win-win situation regardless of what happens as far market participants stay patient and play the current price action correctly.
As to what they could do correctly, the analyst advised market participants to do nothing as long as XRP holds this support zone and rise their spot bags to higher highs. If the XRP price drops below $2, he advised that they should look for potential long opportunities and spot buys below $2, starting at $1.80.
Based on a CooinGape market analysis, XRP could soon rebound after the number of addresses and transaction count surged. Santiment data showed that weekly active addresses have surged to a record high above 1.15 million.
The post Expert Defends $280 XRP Price Prediction, Updates Target To $333 appeared first on CoinGape.
