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Crypto analyst The Black Protector revealed a target to watch as XRP price heads towards a new all-time high (ATH). The analyst made this prediction based on his wave analysis, which shows that XRP is still bullish.
XRP Priced To Hit New ATH At $5.85
In an X postDark Defender predicted that XRP price could reach a new ATH of $5.85 based on his ABC wave analysis. The analyst said that XRP set the ABC wave while the crypto was in Wave A. He also noted that XRP bounced back from Wave A. The support level is $1.88.
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With this development, the analyst is convinced that the rally of the price of XRP at $ 5.85 has begun. An analyst recently pointed out that a bull flag appeared on the weekly chart of XRP, which showed that the crypto could reach as high as $11 in early 2025. Based on his Elliot Wave theory, the analyst had previously predicted that the XRP market high would be $18.
Currently, the target is for XRP price to surpass its current ATH of $3.80 and reach $5.85, as predicted by Dark Defender. XRP saw a price correction following its parabolic rally of over 200% last month. However, crypto seems ready for its next leg.
From a fundamental point of view, the price of XRP has a bullish outlook, especially the next one New York approval RLUSD stablecoin market capitalization. Ripple CEO Brad Garlinghouse confirmed that a partner listing will follow and that RLUSD will launch soon. This development caused the price to drop significantly.
Meanwhile, crypto analyst TheXRPguy on the list the launch of RLUSD as one of the events that market participants are waiting for before they consider selling their coins. The introduction of a stablecoin will inject more money into the XRP ecosystem, which may result in a significant increase in the value of XRP.
The Stars Align On XRP
In X post, crypto analyst CrediBULL Crypto he said the stars are aligning for a major bull run in the price of XRP. He made this statement while referring to the fact that experts predict that the US Securities and Exchange Commission (SEC) may dismiss its complaint against Ripple when the new management enters.
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He noted that the SEC case is the last “cloud” hanging over the XRP community. Therefore, dropping the appeal can increase the confidence of investors in crypto, giving a bullish view on the price of XRP. CrediBULL Crypto suggested that XRP could reach as high as $10 in this bull is running while saying that there must be more than one wave left.
At the time of writing, the price of XRP is trading around $2.34, up more than 8% in the last 24 hours, according to the report. data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
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