The crypto market is experiencing a calm before an anticipated bull run. Altcoins, often overshadowed by Bitcoin, are currently at their lows. This dormant phase may soon transition into a period of explosive growth. The altcoin season, hoped for by many, remains elusive. Yet, certain altcoins hold potential for significant mid-term gains. Distinguishing these promising cryptocurrencies from the rest could be key to maximizing returns. This article delves into which altcoins are poised for growth in the near future. Readers will discover insights into potential winning picks that may thrive in the upcoming market surge. Stay tuned to uncover the top contenders ready to capitalize on the next wave of crypto excitement.

CYBRO Presale Exceeds $1 Million: A One-in-a-Million Next GEN DeFi Investment Opportunity

CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $1 million. This next-generation DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.

Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.025 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest. In another exciting update, CYBRO has introduced a referral program that runs until July 15. It offers 12% commissions from direct referees’ token purchases, 3% from second-level referees, and 2% from third-level referees. Rewards are distributed weekly in USDT, and referees receive double CYBRO Points on their first deposit using the referral code.

Holders of CYBRO tokens will enjoy lucrative staking rewards, exclusive airdrops, cashback on purchases, reduced trading and lending fees, and a robust insurance program within the platform.

With only 21% of the total tokens available for this presale and approximately 25 million already sold, this is a golden opportunity for savvy investors to secure a stake in a project that’s truly one in a million.

Join CYBRO and aim for future returns up to 1200%

Starknet (STRK) Poised for a Rebound Despite Recent Slump

Starknet (STRK) has seen a drop recently, but the future looks bullish. Currently priced between $0.43 and $0.68, STRK faces a key resistance at $0.82 and support at $0.32. Despite a tough month with a nearly 47% drop, the past six months show a strong 195% rise. With an RSI of 55.22 and trading above the 100-day SMA of $0.55, the coin has potential to break through $0.82 and possibly hit the second resistance at $1.06. This represents up to a 147% rise from current levels. Bulls may be gearing up for a solid comeback.

Arbitrum Eyes Potential Bull Run Despite Recent Dump

Arbitrum (ARB) has had a tough ride recently, with prices now in the $0.54 to $0.79 range. Despite a recent 12.81% drop in the past week and a more significant 29.83% decline over the month, signs indicate a potential upswing. With an RSI of 58.44 and Stochastic value near 76, there’s room for growth. Immediate resistance is at $0.93, with a potential rise to $1.18 if bulls regain control, marking a possible increase of around 80% from current levels. The 10-day and 100-day moving averages show stability around $0.66. If support holds strong at $0.43, ARB may soon see significant gains.

LayerZero (ZRO) Shows Strong Potential Amidst Recent Crypto Market Fluctuations

LayerZero (ZRO) is holding steady, trading between $3.00 and $4.71. Despite recent bearish trends in the broader market, LayerZero’s price could soar, breaking the $5.43 resistance level. With a strong monthly gain of nearly 295%, the current RSI of 54.90 suggests room for further growth, and the MACD hints at bullish momentum. If the bullish pattern continues, ZRO could rise over 50% to challenge the second resistance at $7.13. The consistent climb in price underpins a potential for even higher gains, possibly outpacing recent altcoin performance.

Blast (BLAST) Ready for Lift-Off: Bulls Poised to Surge Past Bears

Blast (BLAST) is showing promising signs as its current price ranges between $3.01 and $4.71. Bulls have shown strength with a month-long price increase of close to four-and-a-half times. At a relative strength index of 55.12 and strong upward momentum, BLAST is eyeing its next resistance level at $5.42. If bulls break this level, the next target will be $7.12, which represents a potential price increase of over half again its current value. With a combination of positive indicators and historical patterns reminiscent of 2021, BLAST seems primed for substantial growth in the coming weeks.

Conclusion

Although short-term gains may be limited for STRK, ARB, ZRO, and BLAST, the focus should shift to CYBRO. This technologically advanced DeFi platform offers investors excellent opportunities to increase their earnings through AI-powered yield aggregation on the Blast blockchain. Features include lucrative staking rewards, exclusive airdrops, and cashback on purchases. CYBRO ensures a top-notch user experience with seamless deposits and withdrawals. Its emphasis on transparency, compliance, and quality makes CYBRO a standout project, drawing strong interest from crypto whales and influencers.

Website

Twitter

Discord

Telegram

Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

The German government is keeping Bitcoin traders on the edge of their seats, relocating thousands of BTC in just one day.

The blockchain “de-anonymizing” platform Arkham reports that the German government moved more than 16,000 BTC worth over $915 million in a 24-hour period.

Arkham initially spotted the German government shifting hundreds of millions of dollars in BTC to various addresses mostly belonging to crypto exchanges and market makers.

“Today, the German Government sent 2,738.7 BTC ($155.3 million) to likely exchanges/market makers including Kraken, Cumberland, 139Po (likely deposit for institutional/over-the-counter service) and address bc1qu.”

In an update, Arkham says the German government subsequently moved 8,100 BTC worth $463.2 million to wallets belonging to crypto exchanges Kraken, Bitstamp and Coinbase and market maker Flow Traders.

In another update, Arkham reports that the German government moved 5,200 BTC worth $297.3 million to Kraken, Bitstamp, Coinbase and 139Po.

“That makes this the biggest day for them so far – over 16,000 BTC in total.”

The government currently holds 28,988 BTC worth about $1.66 billion, according to Arkham.

The German government was first spotted moving Bitcoin to exchanges last month. German authorities seized the BTC as part of an investigation into Movie2k.to, a now-defunct illegal streaming site that was accused of distributing more than 880,000 pirated films between 2008 and 2013.

German police confiscated nearly 50,000 BTC related to the case.

Some in the blockchain sector have looked to the German crypto sales with concern. But the pseudonymous digital asset analyst PlanB tells his 1.9 million followers on the social media platform X he’s not worried about the selling pressure from the German government.

“Yes yes, the German government is selling 50,000 BTC… and Mt.Gox is giving 142,000 BTC back to investors (some may sell)… However, I see nothing in the data that indicates structural weakness in Bitcoin markets.”

At time of writing, Bitcoin is trading for $56,426, up over 3% in the past day.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The Republican National Committee (RNC) just adopted a platform that plans to boost crypto mining and oppose the creation of a CBDC.

The Republican National Committee, led by Michael Whatley and Donald Trump’s daughter in law Lara Trump has officially adopted their election platform that includes a section on crypto innovation. The platform was made released Monday as the party gears up for the November election. 

“Republicans will end Democrats’ unlawful and un-American Crypto crackdown and oppose the creation of a Central Bank Digital Currency (CBDC),” the document states. “We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their digital assets, and transact free from Government Surveillance and Control.”

This platform reflects the increasing interest in digital assets among Trump and other GOP politicians.

Digital assets were prominently featured in the platform’s ‘economy section’ as part of the innovation initiatives. The platform committee overwhelmingly approved the new draft, which is scheduled for a final vote on Tuesday.

Trump and crypto

This shift marks a significant change for Trump, who previously expressed skepticism towards cryptocurrency but has become a vocal advocate in recent weeks. On June 10, Donald Trump announced that he wanted all remaining bitcoin (BTC) mined in the United States, hoping the country could dominate the energy sector.

Trump has also personally engaged with digital assets, launching several sets of branded non-fungible tokens and accepting crypto donations for his campaign and affiliated political action committee.

CBDCs

Opposition to CBDCs has been a recurring theme for Trump and other Republicans during the 2024 campaign. The U.S. remains in the research phase like other regions, including China and Europe, as they explore government-backed digital tokens. 

Republicans argue that Democrats’ push for CBDCs could lead to increased financial surveillance of citizens.

As we look ahead to the 2024 election, the Republican Party’s strong support for Bitcoin and crypto innovation is becoming increasingly evident. This demonstrates a clear trend of backing digital assets within the RNC, setting the stage for the party to be seen as a leader in crypto innovation. 

This contrasts the more reserved approach taken by the Biden Administration.

The Crypto Fear & Greed Index, a metric tracking relative market sentiment, has hit the lowest levels since January 2023, dropping to 27 on July 9, according to data from Glassnode.

For reference, January 2023 was only two months following the collapse of the crypto exchange FTX. At the beginning of that month, the Crypto Fear & Greed Index stood at 26, while Bitcoin (BTC) was trading at around $16,500. However, by the end of the month, Bitcoin experienced a price rally and was trading around $22,000, data from TradingView shows.

German, Mt. Gox selling pressures fuel fears

The current market panic is fueled by the German government dumping its BTC holdings and Mt. Gox repaying creditors, bringing the price of BTC down from around $63,000 at the end of June to lows of around $53,570 on July 5.

The German government is offloading tens of thousands of Bitcoin in multiple tranches. The latest update reveals that it shifted an additional $276 million in Bitcoin to its selling wallet. Data from Arkham Intelligence indicates that the German government still holds around 22,800 BTC.

Mt. Gox repayments have also started, as the now-defunct exchange begins reimbursing roughly $9 billion to creditors. $8.2 billion of the outstanding amount is in Bitcoin, likely to be sold by creditors, adding additional selling pressure and fears that Bitcoin will crash again.

Related: BTC price taps $58K as vital Bitcoin bull market trendline reemerges

The other side of the story

Despite the increased selling pressures from institutions, the Bitcoin Exchange Reserve, or the amount of Bitcoin held on exchanges, has steadily declined since 2021 and is currently at a multi-year low, acting as a counterbalance to the selling pressure.

The Miner Supply Ratio and the Miners Position Index also indicate that miner reserves have been exhausted and that selling pressure from miners should be minimized at this point.

Fund investors reacted to Bitcoin’s recent price decline by buying the dip, representing the strongest weekly performance for Bitcoin funds in over a month.

Magazine: Big Questions: Did the NSA create Bitcoin?

Cryptocurrency adoption in Argentina has set records as the local inflation rate skyrockets.

Argentina has been leading the Western hemisphere in cryptocurrency adoption with a 276% annual inflation rate, according to analysts from the American business magazine Forbes.

Crypto adoption in Argentina is higher as a share of its global population than any other country in the Western hemisphere, Forbes analysts reported in an article on July 8. Out of 130 million visitors to 55 of the largest exchanges worldwide, 2.5 million came from Argentina, the report noted, citing website data from Similarweb.

Argentina is also the top market on Binance — one of the world’s largest crypto exchanges — in terms of visitors. According to SimilarWeb, website traffic from Argentina accounts for 6.9% of Binance’s total visits.

Argentines buy spot USDT and “don’t do anything with it”

In contrast to the surging memecoin trend in the crypto industry, the crypto adoption in Argentina has not been driven by memecoins. The locals instead prefer holding stablecoins like Tether (USDT), the analysts claimed, citing remarks by Maximiliano Hin, Bitget’s head of Latin America.

“Argentina is an anomalous market where many people buy USDT and don’t leave room for much else,” Hinz said, adding:

“We don’t see this elsewhere. Argentines buy spot Tether and don’t do anything with it.”

Stablecoins like USDT are a type of cryptocurrency designed to maintain a stable value by pegging to a reserve of US dollars at a 1:1 ratio. With massive local inflation rates, holding money in USDT makes sense for people in Argentina despite the country’s lack of significant measures to protect stablecoin investors.

Argentina’s national securities regulator has registered zero top exchanges so far

Despite Argentina’s friendly stance on cryptocurrencies like Bitcoin (BTC), the country has apparently struggled to create a framework to regulate the industry.

In late 2023, after President Javier Milei took office, Argentina officially endorsed using Bitcoin in legally binding contracts.

Related: Canadian crypto adoption struggles as cash remains king

Since then, Argentina has been trying to regulate the local cryptocurrency market, passing registration requirements for crypto firms in April 2024.

Despite the government’s crypto regulation efforts, Argentina still struggles to provide regulated cryptocurrency services to its population, according to Forbes.

The report claimed that none of Argentina’s top crypto exchanges, including Binance, have registered with the national securities regulator, Comisión Nacional de Valores (CNV).

“To the best of my knowledge, there is no licensing requirement in the Latin American countries where Bitget operates,” Bitget’s Hin stated.

Cointelegraph approached CNV for a comment regarding local crypto regulations but did not receive a response at the time of publication.

Magazine: Crypto-Sec: Phishing scammer goes after Hedera users, address poisoner gets $70K

The cryptocurrency market has displayed a strong bullish recovery by adding 3.71% in its global crypto valuation within the past few hours. Following this, the market leader, Bitcoin price has successfully reclaimed the $57K mark with a gain of 3.11%.

Furthermore, the top altcoins have displayed a similar price action by adding significant valuation to their respective portfolios during this time. With the ongoing price volatility in the crypto space, are the elite crypto tokens on the verge of kickstarting a bull rally?

Dive in as, in this article, we have covered the in-depth market sentiment, price prediction, and analysis of the top 5 cryptocurrencies which are Bitcoin (BTC), Ethereum (ETH), Binance (BNB), Solana (SOL), and Ripple (XRP) as the crypto market hints at a potential bullish breakout rally.

Bitcoin (BTC):

With the ongoing market turmoil, the Bitcoin price has formed a descending channel pattern in the 1D time frame and continues to trade within it. Positively, the market leader is on the verge of testing its resistance trendline of the triangle pattern.

The Relative Strength Index (RSI) has successfully retested its oversold range, indicating an increase in the buying pressure for Bitcoin within the crypto space. Further, the average shows a high possibility of a bullish convergence, suggesting a positive outlook this week.

On the other hand, the MACD indicator has displayed a similar trend by recording a constant decline in the red histogram. Moreover, its averages hint at a potential positive crossover, highlighting increased price action for the BTC price in the crypto market.

If the market continues to gain momentum, the Bitcoin price will break out of its resistance trendline and prepare to test its upper resistance level of $60,819.5 during the upcoming week. Conversely, a bearish reversal could pull the price toward its crucial support of $55,000.

Ethereum (ETH):

The ETH price has successfully retested its crucial support zone, resulting in it recording a jump of over 5% within the past 24 hours. Moreover, the rising hype of EthereumETF has acted as a catalyst in the recent price surge for the Ethereum token.

The technical indicator, RSI, displays a sharp rise in its Ethereum price chart after retesting its oversold range. Further, with a potential bullish convergence, the indicator shows a rising buying-over-selling pressure for the ETH crypto in the market.

Maintaining the price above its important support level will set the stage for the ETH coin price to attempt to test its upper resistance level of $3,400 this month. However, if the bears regain momentum, the Ethereum price will plunge below its $3,000 mark.

Binance (BNB):

Following the bullish recovery in the cross-border market, the Binance price has successfully held its value above its crucial support level of $497.5. Further, this altcoin has added 2.42% to its portfolio with a trading volume of $2.033 Billion, a change of +4.03% over the past day.

The Moving Average Convergence Divergence (MACD) has recorded a constant decline in its negative, highlighting an increase in the bullish influence. However, the averages continue to display a negative pattern, suggesting a mixed sentiment for the BNB coin price this week.

Trading under a bullish sentiment could result in the Binance Coin price testing its important resistance level of $568. However, in case of a bearish reversal, the BNB price could plunge toward its low of $430.

Solana (SOL):

The SOL price has recorded a jump of 7.32% in valuation within the past day with a change of +52.94% in its trading volume to $66.30 Billion. Further, this altcoin has recorded a 24-hour high and low of $143.01 and $131.97. The Solana price further hints at a potential bullish breakout rally.

The Simple Moving Average (SMA) is on the verge of recording a bullish crossover in the 1D time frame, highlighting an increase in the bullish price action for the Solana crypto in the market.

Moreover, the RSI indicator, is on the verge of retesting its mid-point, indicating increased buying and selling pressure in the crypto space. Positively, the average has recorded a bullish crossover, suggesting that the Solana price will continue gaining value this week.

If the bulls continue to gain momentum, the SOL coin price will prepare to test its important resistance level of $155. Maintaining the price at that level will set the stage for the Solana token to head toward its high of $181.5. Negatively, bearish price action could pull the price toward its low of $127.

Ripple (XRP):

Following the bullish bounce back in the cryptocurrency market during the early trading hours today, the XRP price has successfully retested its crucial support trendline and has added 3.15% to its portfolio with a 24-hour trading volume of $1.328 Billion.

The MACD has displayed a decline in the red histogram with its averages recording a high possibility of a bullish action. This indicates a positive outlook for the XRP coin price during the upcoming time.

If the market holds the Ripple price above its crucial support level of $0.420, the bull will prepare to test its upper resistance level of $0.480 this month. Conversely, if the bears overpower the bulls, the XRP price will plunge below its $0.420 level.

Bitstamp, one of five crypto exchanges tapped to help distribute the billions of dollars worth of Bitcoin currently owed to Mt. Gox creditors, said on Monday that it plans to disburse funds to investors as quickly as possible once they are received. 

“According to the agreement with the Mt. Gox trustees, Bitstamp has 60 days to distribute the tokens, though we are of course working to make sure those investors are made whole as soon as possible,” the Robinhood-acquired exchange said in a statement shared with Decrypt. 

The comment sheds some light on the largely opaque and anxiously followed process by which trustees of the defunct Mt. Gox—once the largest crypto exchange in the world—plan to unload 142,000 recovered BTC on creditors who were left empty-handed when the platform was hacked and shuttered in 2014.

Many crypto holders are fearful that dumping too much of that sum on the market at the same time could crater Bitcoin’s price. Last week, as Mt. Gox geared up the process of transferring its BTC stores—sending $2.7 billion worth of tokens from cold storage to an unidentified wallet—Bitcoin fell by nearly 10%. 

Exacerbated by fears of the Mt. Gox BTC refund’s impact on the market, and the German government’s own recent dumping of seized Bitcoin, the world’s top cryptocurrency is down 19% in the last month. 

The total value of all the Bitcoin to be distributed by Mt. Gox’s trustees is roughly $8 billion; the German government still holds some $1.5 billion worth of the token, according to Arkham. 

Experts expect the unloading of those gargantuan sums on the market will all but certainly push Bitcoin’s price even lower. 

“It would need to be a massive July for Bitcoin’s price to resist the sheer weight of supply flooding into the market from Mt. Gox and the German government,” Pav Hundal, lead market analyst at crypto exchange Swyftx, previously told Decrypt. “This could be how we get as low as $50,000.”

Today’s update from Bitstamp indicates the complex and competing priorities at play in sending so much crypto to users at once: while crypto creditors are likely inclined to want to keep Bitcoin’s price stable, they also will want to regain control over funds owed to them as soon as possible.

Edited by Ryan Ozawa.

In a significant shift driven by Republican lawmakers in the United States, led by former President Donald Trump’s pro-crypto stance, there is growing support for adopting Bitcoin (BTC). 

On Monday, a panel of the Republican National Committee (RNC) approved a draft of the party’s 2024 platform that includes strong support for the largest cryptocurrency in the market and the overall industry. This stance stands in sharp contrast to the regulatory approach to digital assets taken by President Biden’s administration. 

Republicans Unveil Pro-Bitcoin Stance

Page nine of the draft, titled “Build the greatest economy in history,” highlights the Republicans’ commitment to reducing “stifling regulations,” promoting job growth, fostering innovation, and ensuring affordability. 

According to the draft, the party vows to implement “transparent and common-sense rulemaking,” a sentiment that resonates with crypto firms and supporters who have consistently called for such measures over the past year.

The draft also emphasizes the Republicans’ intention to halt what they deem as the “Democrats’ unlawful and unAmerican crackdown on cryptocurrencies.” They firmly oppose the creation of a Central Bank Digital Currency (CBDC) and pledge to defend the right to mine Bitcoin. 

Additionally, they vow to safeguard every American’s right to self-custody their digital assets and engage in transactions free from government surveillance and control. The draft reads:

Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.

Fueling Price Speculations

Notably, advisors to former President Trump have advocated for considering Bitcoin as a strategic reserve asset in the event of a victory in the November elections. 

One such advisor is Vivek Ramaswamy, a former presidential candidate, who has been counseling Trump on Bitcoin and digital assets. Ramaswamy has proposed backing the US dollar with a basket of commodities, including Bitcoin, to curb inflation and maintain the currency’s long-term value.

These developments have led many to believe that a Trump victory in the November elections against President Biden could significantly propel the Bitcoin price to new all-time highs. 

As previously reported by Bitcoinist Manuel Villegas, asset manager Julius Baer explained that Trump’s energy policy proposals could particularly benefit crypto mining companies. 

By enabling alternative energy sources for Bitcoin mining, Villegas believes these policies could ultimately contribute to the long-term growth of the BTC price. However, it remains to be seen whether these policies outlined by the Republican Party will be able to be implemented, as they still have 4 months before the November election. 

At the time of writing, BTC was trading at $56,360, down over 10% weekly and nearly 20% in the past 30 days.  

Featured image from DALL-E, chart from TradingView.com

Blockchain-focused asset manager DigitalX has received regulatory approval to launch its spot Bitcoin exchange-traded fund (ETF), which will become the second Bitcoin ETF to trade on the Australian Securities Exchange (ASX).

The DigitalX Bitcoin (BTC) ETF will be listed under the ticker BTXX on July 12 at 10 am local time, the firm revealed in a July 8 X post.

The approval to list BTXX was described as a “watershed moment” by its CEO, Lisa Wade.

“The DigitalX Bitcoin ETF is a spot ETF product that provides ASX customers with direct access to Bitcoin via a regulated and liquid fund structure,” she said.

“It is exciting to see the growth and development of the digital assets markets reflected in this approval” in Australia, added DigitalX’s Chair Toby Hicks.

DigitalX Bitcoin partnered with investment management firm K2 Asset Management to act as the responsible entity and issuer of the spot Bitcoin ETF.

DigitalX will also work with cryptocurrency-focused investment firm 3iQ to promote and distribute the product across Australia and internationally.

Related: Bitcoin ETFs make 26% of BlackRock’s 2024 inflows, 56% of Fidelity’s

It comes a little over three weeks after the ASX approved VanEck’s spot Bitcoin ETF on June 15, which commenced trading on June 20 local time.

The VanEck Bitcoin ETF (VBTC) closed its first trading day with $1.3 million in volume — far below the $450 million daily average seen by the nine United States spot Bitcoin ETFs across their first ten trading days.

Australian fund manager Betashares is also pursuing a Bitcoin ETF on the ASX, according to an April report from Bloomberg. 

Magazine: Polkadot’s Indy 500 driver Conor Daly: ‘My dad holds DOT, how mad is that?’

Crypto analyst Dark Defender has highlighted an important indicator that could cause the XRP price to repeat its legendary price move from 2017. The analyst joins several other analysts who have suggested that XRP could replicate its price gains from that bull run. 

How XRP Price Could Replicate 2017 Price Gains

Dark Defender claimed in an X (formerly Twitter) post that XRP’s current pattern is identical to the 2014-2017 pattern and will remain so unless the $0.3917 “Point of Control” is not protected. The analyst explained that this Point of Control (POC) refers to the price level where most trades have taken place since 2014.  

Related Reading

Therefore, with XRP maintaining this POC since 2014, the crypto token could replicate its historic price gain from 2017, when it rose by 61,000% in 280 days. In another X post, Dark Defender also claimed that XRP’s current pattern was identical to the 2013-2017 pattern he had previously highlighted. Considering this, he stated, “It will be an absolute art to see $5.85 and above.”

Dark Defender also highlighted another indicator that shows XRP’s bullish prospects. He noted that the crypto token’s daily and weekly Relative Strength Index (RSI) is at “the bottom and oversold.” He added that the monthly RSI is at the same level as March 2020 and November 2022. 

Crypto analyst Mikybull Crypto also stated that XRP might replicate its 2017 rally, given the current price action path the crypto token is following. He predicted that the crypt token could rise above $4 if this were to happen. Mikybull Crypto added that he was confident about this scenario playing out for XRP because the sentiment around the crypto token is bleak. 

Meanwhile, crypto analyst Javon Marks also alluded to XRP’s price gain when he recently predicted that the crypto token could witness a 39,000% price rally and rise to $200. He made this prediction based on his Full Logarithmic Follow-Through indicator, which he noted was supported by historical data. 

XRP To Still Rise To As High As $18.22

In his most recent X post, Dark Defender again predicted that XRP could rise as high as $18.22. He stated that the crypto had hit the latest Fibonacci support of $0.3917 (also the POC) of the 5 Elliot Waves, with a target of $1.88, $5.85, and $18.22 now in sight. He warned that any movement below $0.3917 could alter the structure he has been observing. 

Related Reading

Meanwhile, the crypto analyst mentioned that a bullish reversal is on the cards for XRP, alluding to the fact that the crypto token’s weekly RSI hit the lowest points, thereby signaling that XRP is an oversold area. 

At the time of writing, XRP is trading at around $0.42, down over 4% in the last 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com