XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85
11 Diciembre 2024 - 6:00PM
NEWSBTC
Crypto analyst Dark Defender has revealed a target to watch out 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 To Hit New ATH At $5.85 In an
X post, Dark Defender predicted that the XRP price could reach a
new ATH of $5.85 based on his ABC wave analysis. 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 $1.88 support
level. Related Reading: Dogecoin Price Prediction:
Here’s What The 91-Day Pattern Says Could Happen Next 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 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 XRP price 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 crypto looks well primed for its next leg up.
From a fundamental perspective, the XRP price boasts a bullish
outlook, especially following New York’s approval of the RLUSD
stablecoin. Ripple’s CEO Brad Garlinghouse confirmed that exchange
and partner listings are set to follow and that RLUSD will launch
soon. This development caused the price to experience a significant
bounce. Meanwhile, crypto analyst TheXRPguy listed the RLUSD
launch as one of the events that market participants wait for
before they consider selling their coins. The stablecoin launch
would inject more liquidity into the XRP ecosystem, which could
spark a significant surge in the XRP price. The Stars Are
Aligning For XRP In an X post, crypto analyst CrediBULL Crypto said
that the stars are aligning for a massive bull run for the XRP
price. He made this statement while alluding to the fact that
experts predict that the US Securities and Exchange Commission
(SEC) could dismiss its appeal against Ripple when the new
administration comes in. Related Reading: This Analyst
Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s
A New Target 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. At
the time of writing, the XRP price is trading at around $2.34, up
over 8% in the last 24 hours, according to data from
CoinMarketCap. Featured image created with Dall.E, chart from
Tradingview.com
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