Renowned crypto analyst Dark Defender shared insights on the current state of XRP, suggesting that the cryptocurrency is poised for a potential surge, with a possible target of $0.91 by March 10-13.
However, this prediction stems from developments related to the SEC, specifically, its request for a Remedies Deadline Extension to March 13, submitted to Judge Analisa Torres of the Southern District of New York.
XRP’s Bullish Prediction
In a recent analysis, Defender noted that XRP has recently revisited crucial support levels, marking a potential turning point in its price action.
Meanwhile, the analyst mentioned that the cryptocurrency has initiated the formation of its 3rd Wave, making significant strides by hitting the mid-level Orange Resistance at $0.61.
Based on the analyst’s chart analysis, the anticipated third wave is expected to propel XRP toward the $0.9191 mark. Adding to the insights, analysts have also provided a timeline for this targeted prediction.
March 1st Target: $0.6462
Dark Defender suggests that by March 1st, XRP is expected to reach a price point of $0.6462. This level serves as a crucial checkpoint in the cryptocurrency’s journey towards potential bullish momentum.
March 10th-13th Targets: $0.9191
A more significant surge is predicted between March 10th and 13th, where XRP could witness a price range between $0.7707 and $0.9191.
Meanwhile, 13 March is much crucial date for the ripple as, the SEC has asked Judge Analisa Torres of the Southern District of New York to move the deadline ahead by one week for its remedies-related briefing in its ongoing lawsuit against Ripple Labs, Inc.
XRP Experiences Price Surge
As of now, the price of XRP has witnessed a notable increase, rising by 5% in the past 24 hours and currently standing at $0.586. The surge is not limited to the token’s price alone, as its market cap also saw a remarkable uptick of 4.88%.
Recently Coinglass’s derivative data fueled the optimism, by highlighting a parallel uptrend with XRP’s surge. The open interest increased by 7.76%, and there was a significant upswing of 69.65% in the volume.
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