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Crypto analyst Dark defender has revealed a target to watch for as the XRP price targets 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 reaches new ATH at $5.85
In one X messageDark Defender predicted based on its ABC wave analysis that the XRP price could reach a new ATH of $5.85. The analyst stated that XRP set the ABC wave when the crypto was at Wave A. He further noted that XRP has bounced back from the Support level at $1.88.
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With this development, the analyst is confident that the XRP price rally towards $5.85 has begun. The analyst recently revealed that a bull flag appeared on XRP’s weekly chart, showing that the crypto could reach a high of $11 in 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 XRP price to surpass the current ATH of $3.80 and reach $5.85, as Dark Defender has predicted. XRP has witnessed a price correction after its parabolic rally of over 200% last month. However, the crypto seems well prepared for its next move higher.
From a fundamental perspective, XRP price offers a bullish outlook, especially if it follows suit approval from New York of the RLUSD stablecoin. Ripple’s CEO Brad Garlinghouse confirmed that exchange and partner listings will follow and that RLUSD will launch soon. This development caused the price to jump significantly.
Meanwhile, crypto analyst DeXRPguy stated the launch of RLUSD as one of the events that market participants are waiting for before considering selling their coins. The launch of stablecoin would inject more liquidity into the XRP ecosystem, which could cause a significant increase in the XRP price.
The stars are aligned for XRP
In an X-post, crypto analyst CrediBULL Crypto said the stars are preparing for a massive bull run for the XRP price. He made this statement while referring to the fact that experts predict that the US Securities and Exchange Commission (SEC) could reject its appeal against Ripple if the new administration takes office.
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He noted that the SEC lawsuit is the last “lonely cloud” hanging over the XRP community. As such, rejecting the call could increase investor confidence in the crypto, which could create a bullish outlook for the XRP price. CrediBULL Crypto suggested that XRP could reach as high as $10 this bull run while stating that there must be more than one wave of upside potential left.
At the time of writing, the XRP price is trading around $2.34, up over 8% in the past 24 hours. facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com