Cryptanalyst Dark Defender has revealed a target to watch as the XRP price hits a new all-time high (ATH). The analyst made this prediction based on his wave analysis, which showed that XRP remains bullish.
XRP Price Will Reach New ATH At $5.85
IN X postDark Defender predicted that the XRP price could reach a new ATH of $5.85 based on its ABC wave analysis. The analyst stated that XRP established wave ABC when the cryptocurrency was on wave A. He also noted that XRP bounced from Support level $1.88.
The analyst is confident that thanks to this development of events, the price of XRP began to rise to $5.85. An analyst recently reported that bull flag appeared on the weekly chart of XRP, which showed that the cryptocurrency could reach $11 by early 2025. Based on his Elliott Wave theory, the analyst also previously predicted that XRP’s market top 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 Dark Defender predicted. XRP has witnessed a price correction after a parabolic rise of over 200% last month. However, the cryptocurrency looks well poised for its next phase of growth.
From a fundamental point of view, the XRP price has a bullish outlook, especially after New York approval stablecoin RLUSD. Ripple CEO Brad Garlinghouse confirmed that exchange and partner listings will soon follow and that RLUSD will launch soon. This development of events led to a significant price rebound.
Meanwhile, the cryptanalyst TheXRPguy on the list The launch of RLUSD is one of the events that market participants are waiting for before considering selling their coins. The launch of a stablecoin will bring more liquidity to the XRP ecosystem, which could trigger a significant increase in the price of XRP.
The stars are aligned for XRP
In X-post cryptanalyst CrediBULL Crypto said the stars are leaning toward a massive bullish rally in XRP price. He made this statement, citing the fact that experts predict that the US Securities and Exchange Commission (SEC) may reject an appeal against Ripple when a new administration takes over.
He noted that the SEC lawsuit is the latest “lonely cloud” hanging over the XRP community. Thus, the dismissal of the appeal could increase investor confidence in the cryptocurrency, providing an optimistic outlook for the price of XRP. CrediBULL Crypto Suggests XRP Could Reach $10 in this running of the bulls while stating that there should be more than one wave of growth remaining.
According to the company, at the time of writing, the price of XRP is trading at around $2.34, up 8% in the last 24 hours. data from CoinMarketCap.
