XRP Price Expected to Reach New ATH of $5.85
Crypto analyst Dark Defender has identified a target for XRP's price as it aims for a new all-time high (ATH). His wave analysis indicates that XRP remains bullish.
XRP Price Target of $5.85
In an X post, Dark Defender projected that XRP could reach an ATH of $5.85 based on his ABC wave analysis, noting that XRP formed the ABC wave during Wave A. He highlighted a bounce from the $1.88 support level.
The analyst expressed confidence that the rally towards $5.85 has commenced. A recent bull flag on XRP’s weekly chart suggests potential prices could reach $11 by early 2025. Previous predictions indicated a market top near $18 based on Elliot Wave theory.
The immediate focus is for XRP to surpass its current ATH of $3.80 and achieve $5.85. Following a 200% rally last month, XRP experienced a price correction but appears ready for another increase.
From a fundamental perspective, XRP shows a positive outlook following New York's approval of the RLUSD stablecoin. Ripple CEO Brad Garlinghouse confirmed upcoming exchange and partner listings, which contributed to a notable price bounce.
Analyst TheXRPguy noted that the RLUSD launch is highly anticipated among market participants, as it could enhance liquidity within the XRP ecosystem, potentially driving significant price increases.
Positive Indicators for XRP
In an X post, analyst CrediBULL Crypto suggested favorable conditions for a major bull run for XRP. He referenced expectations that the US Securities and Exchange Commission (SEC) may dismiss its appeal against Ripple under the new administration.
This dismissal could eliminate the last significant uncertainty affecting the XRP community, boosting investor confidence and creating a bullish sentiment. CrediBULL Crypto estimated that XRP could rise to $10 in this bull run, indicating multiple upward waves remain.
Currently, XRP trades at approximately $2.34, reflecting an over 8% increase in the last 24 hours, according to CoinMarketCap.
