XRP News Today: XRP Price Poised for 423.6% Surge to $36.76 in Three Months

Market sentiment around the XRP price is shifting towards optimism as technical indicators and recent chart movements suggest a promising upward trajectory over the next three months. This bullish outlook is supported by the breakout of XRP from a crucial three-month resistance trendline, which has been capping its price action since its 2018 peak. This breakout signals a significant shift in market structure, indicating that the long-standing bearish trend may be coming to an end.

According to a new prediction posted by crypto analyst Dark Defender, the XRP price is poised for a potentially explosive surge to $36. The analyst's three-month candlestick chart applies the Elliott Wave Theory, mapping out a five-wave bullish structure. The analysis shows that Waves 1 and 2 have already played out, and XRP now appears to be entering Wave 3, which is typically seen as the strongest and longest wave. If this Wave 3 pattern holds, XRP could be on the verge of its most powerful rally yet, with an upside target reaching as high as $36.76, representing a staggering 423.6% increase.

Before reaching this projected price level, Dark Defender has forecasted short-to long-term bullish targets for the cryptocurrency. In the short term, XRP could reach $3.33, with a mid-term goal of $5.85. Additional milestones along the way include key percentage gain levels that may act as interim resistance zones. A 161.8% gain points to a potential price of around $13.81, while a 261.8% surge suggests a move toward $18.96. If momentum continues, the token could push further to $26.87, aligning with a 361.8% increase.

On the downside, support levels at $2.3620 and $2.222 are expected to act as strongholds in case of any retracement before continuation. Moving forward, Dark Defender has doubled down on his bullish stance on XRP’s future outlook, referencing a tweet dated March 17 that boldly declared, “XRP is extremely bullish.”

In an X post released on May 13, Ali Martinez, a prominent crypto analyst, disclosed that on-chain data from Glassnode shows a clear bullish path for XRP, with no signs of major resistance clusters ahead. The analysis based on the UTXO Realized Price Distribution (URPD) indicates that a significant portion of XRP tokens were last moved at lower price levels. The chart also highlights a significant support zone at $2.38, where nearly 1.85 billion XRP, amounting to 2.92% of its supply, were last transacted. This concentration of holders could serve as a psychological and technical support level if the market pulls back. Moreover, the absence of large token holdings at higher price ranges suggests that the price could experience a smoother ascent, unburdened by major resistance from profit-takers.