XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85

by

As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset market, I have learned to keep my expectations grounded while keeping an open mind about potential opportunities. The recent prediction by Dark Defender that XRP could reach a new ATH of $5.85 based on his ABC wave analysis has piqued my interest.

According to crypto expert Dark Defender, there’s a significant level to keep an eye on as the value of XRP could potentially hit a record peak. This forecast stems from his wave analysis, suggesting that XRP remains optimistic in its market trend.

XRP Price To Hit New ATH At $5.85

In a recent post, Dark Defender forecasted that the price of XRP might hit a fresh all-time high (ATH) of around $5.85, according to his analysis using the ABC wave pattern. The analyst pointed out that XRP established this ABC wave when its value was at the Wave A level. Additionally, he highlighted that XRP has recovered from the support level of approximately $1.88.

According to the analyst’s analysis, it seems the surge in XRP price towards $5.85 is now underway. This prediction comes from a bullish pattern called a ‘bull flag’ that appeared on XRP’s weekly chart. The analyst suggests that this cryptocurrency could potentially reach $11 by early 2025, and he had earlier hypothesized using Elliot Wave theory that the market peak for XRP might be around $18.

For now, it’s hoped that the XRP price will exceed its previous all-time high of $3.80 and aim for $5.85, as predicted by Dark Defender. After a correction following its impressive surge of over 200% last month, XRP seems poised for further growth.

Looking at the core aspects, it’s clear that the future price trend for XRP appears optimistic, significantly boosted by New York’s endorsement of the RLUSD stablecoin. Ripple‘s CEO, Brad Garlinghouse, has announced plans for exchange and partner listings, with the launch of RLUSD imminent. This approval has triggered a notable price surge in XRP.

In the meantime, cryptocurrency analyst TheXRPguy has identified the release of RLUSD as an event that many market participants are eagerly anticipating before they decide to sell their XRP coins. The introduction of this stablecoin could increase liquidity within the XRP ecosystem, potentially causing a substantial rise in the price of XRP.

The Stars Are Aligning For XRP

In a recent post, crypto expert CrediBULL Crypto indicated that there may be a significant increase in the price of XRP due to an upcoming bull market. This prediction was based on speculation that the US Securities and Exchange Commission (SEC) might drop its appeal against Ripple when the new government takes office.

He noted that the SEC lawsuit is the last “lone cloud” lingering above the XRP community. As such, dismissing the appeal could boost investors’ confidence in the crypto, providing a bullish outlook for the XRP price. CrediBULL Crypto suggested that XRP could reach as high as $10 in this bull run while stating that there should be more than one wave of upside remaining. 

Currently, as I’m typing this, XRP’s value is approximately $2.34 per unit, marking an increase of more than 8% within the past 24 hours, based on information from CoinMarketCap.

Read More

2024-12-12 03:04