XRP Could Break Above $3 in the Next 6 Weeks, Predicts Analyst

• The analyst Dark Defender predicted in a tweet yesterday that XRP may break above $3 in the next 5-6 weeks.
• In the post, the analyst noted that XRP is following a bullish historical trend.
• At press time, XRP was trading at $0.4717 after its price dropped 0.99%.

The crypto analyst who goes by the name Dark Defender predicted in a tweet yesterday that Ripple (XRP) may rise to above $3 in the next 5-6 weeks. In the post, he pointed out that XRP is following a bullish historical trend and that its price movement is aligned with Elliott Waves. Both of these factors suggest that a massive short-term breakout may soon occur, according to the analyst.

This bullish thesis for the remittance token has not yet played out, however. At press time, CoinMarketCap indicated that XRP’s price dropped 0.99% over the past 24 hours. As a result, the altcoin was trading at $0.4717. This negative price movement pushed XRP’s weekly performance further into the red — taking XRP’s weekly loss to 1.63%.

Despite weakening against the Dollar over the past 24 hours, XRP was able to outperform the two market leaders Bitcoin (BTC) and Ethereum (ETH). At press time, the crypto was up 0.19% against BTC and was also up 0.03% against the altcoin leader.

XRP dropped below the key support level at $0.4688 during yesterday’s trading session but was able to recover to close yesterday’s daily candle back above the crucial support at $0.4710. It had attempted to retest the key mark earlier today, but bulls were able to give XRP a mini boost to trade at $0.4717 at press time.

If XRP’s price is able to break above the 9-day EMA line at approximately $0.4733 in the next 48 hours then it may look to flip the resistance level at $0.4755 into support over the next few days. Should the crypto’s price succeed in flipping $0.4755 into support, then it may continue to rise to $0.4841 in the following 48 hours.

On the other hand, XRP closing today’s daily candle below $0.4733 may put the altcoin at risk of losing the support of $0.4688. In this scenario, the crypto’s price may continue to drop to $0.4596 in the next couple of days.

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