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Cryptographic analyst dark defender has revealed a target to watch as XRP price aims for a new all-time high (ATH). The analyst made this prediction based on his wave analysis, which showed that XRP remains bullish.
XRP Price to Hit New ATH of $5.85
in a x publicationDark Defender predicted that XRP price could reach a new ATH of $5.85 based on its ABC waves analysis. The analyst stated that XRP established the ABC wave when the crypto was in Wave A. He further noted that XRP has recovered from the $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 analyst recently revealed that a bull flag appeared on XRP’s weekly chart, which showed that the cryptocurrency could hit as much as $11 by early 2025. Based on his Elliot Wave theory, the analyst had also previously predicted that
Meanwhile, the goal is for the price of XRP to surpass its current ATH of $3.80 and reach $5.85, as Dark Defender has predicted. XRP has witnessed a price correction following its parabolic rally of over 200% last month. However, the cryptocurrency appears to be well prepared for its next rise.
From a fundamental perspective, XRP price boasts a bullish outlook, especially after New York approval of the RLUSD stablecoin. Ripple CEO Brad Garlinghouse confirmed that exchange and partner listings will follow and that RLUSD will launch soon. This development caused the price to experience a significant rebound.
Meanwhile, cryptanalyst TheXRPguy listing The launch of RLUSD is one of the events that market participants wait for before considering selling their coins. The launch of the stablecoin would inject more liquidity into the XRP ecosystem, which could lead to a significant increase in the price of XRP.
The stars are aligning for XRP
In a post X, crypto analyst CrediBULL Crypto said that the stars are aligning for a massive bull run for the price of XRP. He made this statement alluding to the fact that experts predict that the United States Securities and Exchange Commission (SEC) could dismiss its appeal against Ripple when the new administration arrives.
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He noted that the SEC lawsuit is the latest “lone cloud” lingering over the XRP community. As such, dismissing the appeal could boost investor confidence in the crypto, providing a bullish outlook for the price of XRP. CrediBULL Crypto Suggested XRP Could Hit Up to $10 in this lockdown while stating that there should be more than one wave of advantages left.
At the time of writing, XRP price is trading at around $2.34, up more than 8% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
