Dark Defender, a popular crypto analyst, is backed by Ripple XRP He maintained his optimistic view about the token and claimed that it will surpass $1 in the future.
The price of the altcoin exceeding the $ 0.6 level attracted attention, in line with the analyst’s statements. Derivative data led to speculation about future price movement.
Dark Defender’s XRP target was set at $0.6462 for March 1. Although the altcoin failed to reach this goal on March 1, it did make a significant rise, reaching $0.6400 on March 2. The analyst stated that the next target is $0.7707, followed by $1.
As Koinfinans.com reported, Dark Defender initially ruled out a very optimistic $1 target for XRP. In this post, he claimed that the MACD is bullish and continues its move towards the Ichimoku clouds, which could lead the price towards $1.
The price of XRP has increased by 7.96% in the last 24 hours and is currently trading at $0.6395. This extraordinary increase appears to have occurred due to factors such as Ripple locking 800 million XRP in its escrow wallet.
Derivatives data from Coinglass showed an increase in open interest, while volume dropped 16.66%. This indicates a significant amount of new money entering the market, while the decline in market activity points to a potential period of consolidation ahead.
The 0.1026% increase in the OI-weighted funding rate showed that traders were ready to invest more in long positions, drawing a bullish outlook for the Ripple-backed token. This further aligns with the analyst’s statements, increasing speculative expectations around XRP’s potential bull run.
