The cryptocurrency market kicked off the week with most of the top cryptocurrencies trading on the green, and XRP is among them, exchanging hands at $0.61 at press time.
After analyzing the assetās monthly chart, Dark Defender ā a well-known crypto analyst who commonly breaks down the price action of altcoins ā concluded that XRP is poised for a significant price increase. He anticipates that it will break out of its current price range and make substantial gains in April, possibly surging past the $1 target.
Despite XRP showing clear signs of consolidation, the analyst dismissed the idea that XRP is confined to a narrow price rangeāaround $0.60. He states that April is a key month in which a breakout is imminent for the asset.
While the main fear among traders is that XRP will retest and ultimately trade sideways, the analyst remains convinced that it will soon break to $1.88 and $5.85.
Likewise, Dark Defender shared an analysis based on three monthly timeframes of the XRP/BTC pair. āEach candle or price bar is formed in 3 months (3M), and Aril is the start moment of the new bar. (April-May-June will form a new candle)ā
Other industry participants observing XRPās performance share similar thoughts and believe it will witness an explosive upward move. As CryptoPotato reported, some concluded that XRP needs to break above the $0.75 level to eventually jump to the range of $1 ā $1.30
The post Hereās Why April Is a Crucial Month for XRPās Price: Analyst appeared first on CryptoPotato.
After analyzing the assetās monthly chart, Dark Defender ā a well-known crypto analyst who commonly breaks down the price action of altcoins ā concluded that XRP is poised for a significant price increase. He anticipates that it will break out of its current price range and make substantial gains in April, possibly surging past the $1 target.
April is a Key Month for XRP
Despite XRP showing clear signs of consolidation, the analyst dismissed the idea that XRP is confined to a narrow price rangeāaround $0.60. He states that April is a key month in which a breakout is imminent for the asset.
While the main fear among traders is that XRP will retest and ultimately trade sideways, the analyst remains convinced that it will soon break to $1.88 and $5.85.
Likewise, Dark Defender shared an analysis based on three monthly timeframes of the XRP/BTC pair. āEach candle or price bar is formed in 3 months (3M), and Aril is the start moment of the new bar. (April-May-June will form a new candle)ā
Other industry participants observing XRPās performance share similar thoughts and believe it will witness an explosive upward move. As CryptoPotato reported, some concluded that XRP needs to break above the $0.75 level to eventually jump to the range of $1 ā $1.30
The post Hereās Why April Is a Crucial Month for XRPās Price: Analyst appeared first on CryptoPotato.
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