Ripple’s Triumph: Is XRP About to Soar to Unimaginable Heights? 🚀

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In the grand theater of life, where the fates of men and markets intertwine, a momentous event has unfolded. After a protracted struggle lasting more than four years, the formidable US Securities and Exchange Commission has chosen to withdraw its relentless pursuit of Ripple in the ongoing saga of the XRP lawsuit. The proclamation by the esteemed CEO, Brad Garlinghouse, on the platform known as X, resonated with the fervor of a battle cry: “This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it. The future is bright. Let’s build.” Such words, laden with optimism, have sent ripples of joy through the hearts of XRP supporters, akin to a warm breeze on a chilly winter’s day. 🌬️

Yet, amidst the jubilation, the astute attorney Jeremy Hogan reminds us that the path ahead is still fraught with uncertainty. Ripple, like a chess player contemplating its next move, has several options at its disposal. Hogan, with a twinkle of irony in his eye, outlined four possible scenarios that could unfold:

a. Ripple continues its appeal, and we await a ruling from an appellate court on whether investment contracts require contracts, etc..
b. Ripple agrees to drop its appeal, jurisdiction returns to the trial court, and the parties attempt to amend the judgment.
c. Ripple agrees to drop its appeal, and the parties enter into an agreement between them without trying to amend the judgment.
d. Ripple just pays the $125 million and moves on.

Now, as we ponder the question that dances on the lips of many: How high can XRP ascend? In this context, the crypto analyst known as Dark Defender (@DefendDark) has unveiled an updated daily XRP/USD chart, a veritable tapestry of numbers and lines. According to this chart, XRP has triumphantly breached a descending trend line, a feat akin to a bird escaping its cage, following the announcement.

The breakthrough near the $2.47 mark, circled in green and dubbed “A Clear Break-Out” by Dark Defender, suggests that market participants are no longer shackled by the downward trajectory that had previously characterized their plight. It is as if the clouds have parted, revealing a sunlit path ahead. ☀️

The chart further delineates an Elliott Wave count, harmoniously aligned with Fibonacci retracement and extension levels. It illustrates a completed corrective phase and the nascent emergence of a new impulsive wave structure, buoyed by the decisive breakout from a long-standing descending trendline.

According to this analysis, Wave (1) commenced from a local low of $1.79 and reached a zenith around $2.55, marking the first bullish impulse. This was followed by Wave (2), which retraced into the Fibonacci support zone, a place of refuge for weary traders.

The retracement, respecting the 61.80% level at $2.3073 and approaching the 70.20% level at $2.2249, indicates a technically sound corrective wave within the Elliott framework. These levels provided a robust foundation for buyers, preventing further decline and signaling the potential completion of Wave (2).

As we gaze into the future, the chart forecasts the commencement of Wave (3), traditionally the most vigorous in Elliott Wave theory. Fibonacci extension levels are meticulously plotted to define the likely targets for this wave. The 161.80% extension aligns at $3.94, serving as a critical target zone for Wave (3). Additionally, the 261.80% extension near $3.78 further supports this zone as a potential area where bullish momentum might encounter resistance or a momentary pause.

However, Dark Defender, with a glimmer of audacity, predicts that XRP could soar even higher, reaching the lofty heights of the $4.50 region. Upon the completion of Wave (3), the chart suggests a corrective Wave (4), which is expected to honor the broader uptrend and dip into the $3.78 to $3.94 region.

Ultimately, the final impulsive Wave (5) is projected to extend upon the 361.80% Fibonacci level at $4.9274, marking a potential pinnacle within the current Elliott Wave cycle. The analyst even entertains the tantalizing possibility of a surge above $6, where the wave structure could culminate in a grand finale. 🎉

As the clock ticks, XRP finds itself trading at $2.55, a humble figure compared to the heights it may yet achieve.

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2025-03-20 10:19