Crypto analyst Dark Defender has predicted that the XRP price could soon rally to as high as $5. The analyst further revealed what needs to happen in the short term for XRP to reach this target, which would mark a new all-time high (ATH) for the crypto.
XRP Price To Reach $5
In an X post, Dark Defender predicted that the XRP price could soon rally to $5. This prediction came as he revealed that XRP has almost finalized the ABC corrective wave pattern in the daily time frame. The crypto analyst suggested that the crypto needs to break the crucial resistance at $2.52 for this rally to occur.
Dark Defender stated that he expects XRP to break this resistance level within 24 hours, which would first pave the road to $5.85. The crypto analyst predicts that the crypto could further rally to $18.22, which could mark the top for the XRP price in this market cycle.
Based on his Elliot Wave theory analysis, the crypto had previously predicted that XRP could reach this price target. Back then, he suggested that crypto would reach this $18 price target by mid-2025.
It is worth mentioning that XRP also boasts bullish fundamentals. Ripple Labs just secured NYDFS approval for the RLUSD stablecoin, which will launch soon. This launch will inject more liquidity into the XRP ecosystem and could boost the crypto’s price.
Meanwhile, there are predictions that the new SEC administration under Paul Atkins could drop the appeal against Ripple. Given the lawsuit’s negative impact on XRP’s price, this would provide a major boost for XRP.
Meanwhile, it is worth mentioning that XRP whales have been actively accumulating the crypto. CoinGape reported that Ripple Whales acquired 100 million coins amid the recent price dip.
A Big Move Could Be Coming
In an X post, crypto analyst CasiTrades also provided a bullish outlook for the XRP price, stating that a “big move” could be coming for the crypto. She revealed that XRP has seen a solid wave bounce off the .382 support.
Having hit and tested this .382 support, CasiTrades remarked that the XRP price is ready for its next target, which she claimed is $3.46. She added that a rally to this level would be huge because breaking the current ATH is critical. The crypto analyst added that if XRP doesn’t push through its ATH, there is a risk of forming resistance instead of continuation.
The post Analyst Predicts XRP Price Will Rally To $5, Here’s How appeared first on CoinGape.
