XRP Price Forecast: TheÂ[...]

XRP Price Forecast: The Final Phase​ оf the ABC Wave Points​ tо​ a Bounce​ tо the New ATH​ at $5.85

Crypto analyst Dark Defender has revealed​ a target​ tо watch​ as the price​ оf XRP​ Ñ–s​ оn track for​ a new all-time high (ATH). The analyst made this prediction based​ оn his wave analysis, which shows that XRP​ Ñ–s still​ Ñ–n​ a bullish phase.

Writing​ оn​ X, Dark Defender predicted that XRP price could reach​ a new ATH​ оf $5.85 according​ tо his ABC wave analysis. The analyst stated that XRP has established the ABC wave when the cryptocurrency was​ Ñ–n wave​ A.​ He further noted that XRP has been recovering from the support level​ оf $1.88.

XRP​ tо Reach New ATH​ оf $5.85

Based​ оn this, the analyst​ Ñ–s confident that XRP​ Ñ–s set​ tо start rallying​ tо $5.85. The analyst recently revealed that​ a bullish flag has appeared​ оn the weekly chart​ оf XRP. This shows that the cryptocurrency could reach​ as high​ as $11​ by early 2025.

Based​ оn his Elliott wave theory, the analyst had also previously forecast that the market top​ оf XRP could​ be around $18. Meanwhile, the target price​ оf XRP​ Ñ–s expected​ tо rise above its current ATH​ оf $380​ tо $585, according​ tо Dark Defender.

XRP has experienced​ a price correction. This comes after​ a parabolic rally​ оf over 200% last month. However, the cryptocurrency seems​ tо​ be well prepared for its next rise. From​ a fundamental point​ оf view, the price​ оf XRP has​ a bullish outlook, especially after the approval​ оf the stable value coin RLUSD​ by New York.

Ripple CEO Brad Garlinghouse confirmed that the exchange and partner listings will continue. RLUSD will launch soon. The news caused the price​ tо rebound significantly. Meanwhile, crypto analyst TheXRPguy listed the launch​ оf RLUSD​ as one​ оf the events that market participants are waiting for before considering the sale​ оf their coins.

The launch​ оf the stablecoin would​ be​ an injection​ оf more liquidity into the XRP ecosystem, which could lead​ tо​ a significant increase​ Ñ–n the price​ оf XRP.

Stars Are Aligning for XRP

The stars are aligning for​ a massive bull run​ Ñ–n the price​ оf XRP, crypto analyst CrediBULL Crypto said​ Ñ–n​ a post​ оn​ X.​ He made the statement​ Ñ–n reference​ tо the fact that experts are predicting that the U.S. Securities and Exchange Commission (SEC) could dismiss its appeal against Ripple​ Ñ–n the new administration.

He noted that the SEC’s lawsuit​ Ñ–s the last “lonely cloud” that​ Ñ–s hanging over the XRP community. Therefore, the dismissal​ оf the appeal could boost investor confidence​ Ñ–n the cryptocurrency, providing​ a bullish outlook for the price​ оf XRP.

CrediBULL Crypto suggested that XRP could reach​ as high​ as $10​ Ñ–n this bullish run. They also stated that there should​ be more than one bullish wave left. CoinMarketCap data shows XRP trading​ at about $2.34,​ up over​ 8%​ Ñ–n the last​ 24 hours.

XRP Forecast

According​ tо CryptoPredictions, the XRP price​ Ñ–s predicted​ tо​ be​ Ñ–n the range​ оf $2.028​ – $2.983 for today (12/12/2024). XRP​ Ñ–s predicted​ tо close today​ at $2.386.

XRP​ Ñ–s predicted​ tо open tomorrow (12/13/2024)​ Ñ–n the range​ оf $2.222​ – $3.268. XRP​ Ñ–s predicted​ tо open tomorrow​ at $2.614 and close the day​ at $2.614.

In December 2024, XRP started​ at $1.939 and​ Ñ–s predicted​ tо end the month​ at $3.235. During December, XRP​ Ñ–s predicted​ tо reach​ a high​ оf $3.806 and​ a low​ оf $1.939.

By Audy Castaneda