Crypto analyst Dark Guardian has released a target to watch out for as the price of XRP is aiming for a new all-time high (ATH). The analyst made this prediction based on his wave analysis, which showed that XRP is still bullish.
XRP Price to Hit New ATH at $5.85
In the X postDark Defender predicted that XRP price could reach a new HIGH of $5.85 based on his ABC wave analysis. The analyst said that XRP set the ABC wave when the crypto was at Wave A. He also noted that XRP has bounced back from $1.88 support level.
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With this development, the analyst is confident that the XRP price rally to $5.85 has begun. The recent analysis revealed that a bull flag appeared on the XRP weekly chart, which showed that the crypto could reach as high as $11 by early 2025. Based on his Elliot Wave theory, the analyst had also previously predicted that the XRP market top could be around $18.
In the meantime, the goal is for the price of XRP to cross the current ATH of $3.80 and reach $5.85, as predicted by Dark Defender. XRP has seen a price correction after its parabolic rally of over 200% last month. However, the crypto looks good for the next step up.
From a fundamental point of view, the price of XRP has a bullish outlook, especially after that New York Agreement today stands at RLUSD. Ripple's CEO, Brad Garlinghouse, confirmed that exchanges and partner lists are going to continue and that RLUSD will be launched soon. This development caused the price to get a good boost.
At the same time, a crypto analyst TheXRPguy listed the launch of RLUSD is one of the events that market participants wait for before considering selling their coins. The launch of a stablecoin would bring more liquidity into the XRP ecosystem, which could trigger a significant increase in the price of XRP.
The Stars Are Aligning for XRP
In post X, crypto analyst CrediBULL Crypto he said the stars are aligning for a big bull run for the price of XRP. He made this statement while mentioning that experts are predicting that the US Securities and Exchange Commission (SEC) may reject its claim against Ripple when the new administration comes to -in.
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He noted that the SEC lawsuit is the last “single cloud” hanging over the XRP community. Therefore, eliminating the appeal could boost investor confidence in the crypto, giving an optimistic outlook for the price of XRP. CrediBULL Crypto suggested that XRP could reach as high as $10 in this bull run while saying that there should be more than one wave of upside left.
At the time of writing, the price of XRP is trading at around $2.34, up more than 8% in the past 24 hours, according to data from CoinMarketCap.
Featured image created by Dall.E, chart from Tradingview.com
