$XRP Price Could Surge Over 800% By Year End, Crypto Analyst Claims

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A popular cryptocurrency analyst recently predicted that the price of $XRP, the native token of the XRP Ledger, may soon see a significant increase which is expected to start in the near future. His projects show that the cryptocurrency could be trading at $3.82 by the end of the year, up almost 880%.

Pseudonymous cryptocurrency analyst Dark Defender made their prediction on microblogging platform Twitter, where they shared that there is apparently a current lull in XRP activity, which suggests to them that it could be a harbinger of an impending breakout.

The analysis included a detailed inspection of XRP’s weekly chart, with a particular focus on historical patterns. According to the interpretation, a breakout is likely to occur after a 13-week bar period, which as of the current date brings us to the end of August. However, the analyst also acknowledged the possibility of this event occurring in a previous week.

On the breakout, Dark Defender expects XRP to conquer the pivot resistance line, setting the stage for an initial target of $1.33. The trailing target, they suggest, sits comfortably at $3.82.

Interestingly, the timing could match Ripple CEO Brad Garlinghouses’ anticipation for the conclusion of the company’s legal battle with the United States Securities and Exchange Commission (SEC), which began in December 2020. when the regulator announced it had filed a lawsuit over the alleged $1.3 billion sale. through a continuous offering of unregistered digital asset securities.

Garlinghouse has made it clear that he is unhappy with Ripple’s lengthy legal battle with the SEC, but revealed that he believes the judge will make a decision within the next two to six months. The judge knows everything she needs to know. She has to decide what to do. She can take as long as she wants, but hopefully we’ll find out what she decides, I think, before the end of the third quarter, he said.

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