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Crypto analyst Dark Defender has issued a bold outlook for XRP, stating on X that the asset is on a clear path toward multiple upside targets. His remarks come at a time when the asset bulls are trying to hold a support level at $2.42, with technical patterns suggesting the asset may be preparing for a significant breakout. 

XRP Faces Minor Resistance on the Way to $2.75, $5.85 in Sight

XRP’s price action is starting to see some positive note, recently pushing as high as $2.56 in a 7-day timeframe. Although it met resistance and reversed on a downtrend early last week, it eventually found support at $2.36 and started a fresh uptrend. This up-and-down movement is seemingly an average price action playout, but technical analysis on the daily candlestick timeframe chart shows that the price quietly changed a downward sloping resistance trendline into support at $2.36.

Now, the next outlook for the altcoin is an upward movement after this fresh uptrend above the resistance trendline. With this in mind, crypto analyst Dark Defender predicted that the cryptocurrency is on the road to $5.85. The analyst also highlighted, a closer price target at $2.75, though noting that XRP may experience some difficulty breaking through $2.55. 

The predicted difficulty at $2.55 is in response to its rejection last week. However, Dark Defender’s phrasing was straightforward; “XRP looks excellent,” reflecting strong conviction in the token’s current setup after his analysis.

Exponential Fibonacci: $5.85 Isn’t The Limit For The Altcoin

Dark Defender’s prediction of a $5.85 price target for XRP would see the crypto breaking above its current all-time high. However, this pales in comparison to the analyst’s long-term projection.

The projection to $5.85 is only one part of Dark Defender’s broader analysis. In a previous post, he outlined a more ambitious long-term scenario using exponential Fibonacci levels and Elliott Wave theory. According to him, the common belief that XRP cannot exceed $10 is a misunderstanding of exponential modeling. He argued that the altcoin is currently in an impulse wave 3 on a multi-year timeframe. If wave 3 fully extends during this phase, it could reach $77.7, with wave 5 targeting a three-digit price zone.

His roadmap emphasizes staying above the $2.3951 median, a level he says has been in play since November. From there, the chart suggests a run to $8, which could lead the asset toward a new range between $18 and $23. These projections are based not only on wave extensions but also on volume trends, RSI behavior, and repeating historical patterns, which the analyst believes all align to support an incoming rally.

At the time of writing, XRP is trading at $2.42.

Featured image from iStock, chart from Tradingview.com

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Pi Network has released a policy document guiding its domain auction but the figures around the event are beyond impressive. Barely a week since the launch of the domain auction, over 200,000 bids have been placed fuelling speculation for a push to $1.

Pi Network Records Impressive Figures For Domain Auction

According to a post by the Pi Core Team (PCT), the network is buzzing with activity surrounding its domain action. Per the statement, the bids for .pi domains have surpassed 200,000 in less than a week since launch.

Pi Network launched domain auctions on March 14 for community users to stake their claims for .pi domains. At the moment, there are over 40,000 unique bidders jostling for 95,000 domains.

Nearly 3 million Pi are in active bid with the highest bid at press time being 30,000 for a single Pi domain. There is a scramble for .pi domains associated with large corporations including Amazon and Samsung.

“The demand for .pi domains highlights the growing ecosystem of Pi-powered apps, businesses, and online services, all leveraging blockchain-based domain ownership for branding, accessibility, and commerce,” read the statement.

PCT Releases Policy Document For Domain Auction

Details in the PCT policy document reveal that proceeds will be funneled into the Pi ecosystem via developer programs and Pi events. Furthermore, ecosystem apps will not be required to go through the hassle of auctions and can secure domains automatically.

The PCT clarifies that the .pi domains are akin to traditional domains requiring renewals or forfeiture. While .pi domains work in the Pi Browser, the team says it is giving no guarantee that legacy browsers will provide support.

Pi Coin Price To Clinch $1 In The Short Term

There is growing enthusiasm that the native price can clinch $1 again after Pi Coin fell by 5%. The dip below $1 is a result of the recent token unlock in the network, triggering massive selling pressure.

Pi Coin is trading at $0.8862 with daily trading volumes down by 29.21%. The asset has slumped 70% from its all-time high of $2.98 but community sentiment to reclaim $1 is sizzling.

Whispers of a potential listing by Upbit could send Pi Coin to a massive rally, supporting existing on-chain activity. However, an expert says the reason behind exchanges not listing Pi Coin is a lack of transparency from the PCT.

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.