Check out the latest information in Spanish.
Cryptocurrency analyst Dark Defender has revealed a target to keep an eye on as the XRP price aims to hit a new all-time high (ATH). The analyst made this prediction based on wave analysis that showed that XRP remains bullish.
XRP price reaches new ATH at $5.85
In the X post, Dark Defender predicted that the XRP price could reach the new ATH of $5.85 based on ABC wave analysis. The analyst said that XRP set up the ABC wave when the cryptocurrency was in the A wave. He further noted that XRP has rebounded from the $1.88 support level.
Related books
Source: X
With this development, analysts believe that the rise in XRP price to $5.85 has begun. The analyst recently revealed that a bullish flag has appeared on XRP's weekly chart, indicating that the cryptocurrency could reach a high of $11 by early 2025. The analyst previously predicted, based on his Elliott Wave Theory, that the XRP market's high could be around $18.
In the meantime, the goal is for the XRP price to surpass the current ATH of $3.80 and reach $5.85, as predicted by Dark Defender. XRP witnessed a price correction following a parabolic rise of over 200% last month. However, cryptocurrencies seem well poised for the next step.
From a fundamental perspective, the XRP price boasts a bullish outlook, especially following the approval of the RLUSD stablecoin by New York State. Ripple CEO Brad Garlinghouse confirmed that RLUSD will be launched soon, with exchange and partner listings planned for the future. This development caused prices to rebound significantly.
Meanwhile, crypto analyst TheXRPguy cited the launch of RLUSD as one of the events that market participants wait for before considering selling their coins. The stablecoin launch will inject more liquidity into the XRP ecosystem, potentially causing a significant spike in the XRP price.
The stars are aligned for XRP
In a post on X, crypto analyst CrediBULL Crypto said the stars are aligning for a massive bull run in XRP prices. He made this comment in reference to the fact that experts predict that the U.S. Securities and Exchange Commission (SEC) may deny the appeal against Ripple when the new administration takes office.
Related books
He noted that the SEC lawsuit is the last “lone cloud” lingering over the XRP community. Therefore, a rejection of the appeal could increase investor confidence in the cryptocurrency and provide a bullish outlook for the XRP price. CrediBULL Crypto suggested that XRP could reach $10 in this bull run, but said there should be multiple waves of upside.
At the time of writing, XRP price was trading around $2.34, up more than 8% in the past 24 hours, according to data from CoinMarketCap.
Price recovers to $2.3 | Source: XRPSDT on Tradingview.com
Featured image created by Dall.E, chart on Tradingview.com
