Lucía Peña
A prominent crypto strategist has sparked excitement in the market with an optimistic price forecast for XRP. Analyst Dark Defender anticipates that XRP could soon surge to $8, driven by growing expectations of an XRP ETF approval and a potential Ripple IPO.
Currently, XRP trades around $2.35, reflecting a 4% drop in the past 24 hours and a 6% decline over the past week. Despite this short-term downturn, long-term technical indicators suggest that a bullish breakout is on the horizon.
According to Dark Defender’s post on March 27, XRP is targeting $5.85 and $8.076 based on a three-month timeframe analysis. The analyst believes that the closing of the first-quarter candle at the end of March could confirm strong upward momentum, positioning XRP for its next major rally.
Can XRP Hit $8? Ripple IPO and ETF Speculation Fuel Optimism
Beyond technical indicators, macro developments surrounding XRP have contributed to the growing bullish sentiment.
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Ripple IPO Rumors: With the SEC lawsuit settled, speculation about Ripple going public has intensified. While no official announcements have been made, industry experts predict that a Ripple IPO could occur within the next 12 to 18 months, significantly boosting XRP’s price prospects.
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XRP ETF Approval Odds: The likelihood of an XRP ETF approval is also rising. Recent Polymarket data suggests that there is an 85% probability that an ETF will be approved by 2025, further adding to the bullish outlook for XRP.
Additionally, the RLUSD stablecoin hype has contributed to the positive market sentiment, as it enhances liquidity and adoption within the Ripple ecosystem.
XRP Derivatives Market Sees Significant Growth
Meanwhile, the XRP derivatives market is also experiencing increased activity.
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Open Interest (OI) Surge: Data from Coinglass shows that XRP futures open interest (OI) has doubled, rising from $2 billion to nearly $4 billion since March 12. This suggests renewed confidence and participation from institutional traders.
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Derivatives Volume Spikes: XRP’s derivatives trading volume also surged 24% in a single day, reaching $5.35 billion, further reinforcing the growing market interest.
Final Thoughts: Is XRP Set for a Parabolic Move?
Despite short-term fluctuations, analysts remain highly optimistic about XRP’s future price potential. With key developments such as a possible ETF approval and a Ripple IPO, combined with strong on-chain and derivatives market activity, XRP appears to be on track for a significant breakout—potentially hitting $8 in the near future.
