Huge Ripple (XRP) Price Prediction By Popular Analyst, But There’s a Catch

2 Mins read

Crypto analyst Dark Defender has recently conducted an in-depth XRP price analysis and believes the asset could hit an ATH of $18. 

The trader used several indicators and chart patterns to gauge XRP’s next price target, concluding with three potential ones.

One of those patterns is the ABC Correction, which, in trading, can help traders signal temporary reversals or pullbacks in an asset’s price within a broader trend. 

XRP to Tap $18?

It consists of three waves: A, B, and C, each helping traders identify trend continuations and potential entry points during pullbacks. Applied to XRP’s chart, Dark Defender laid out the three waves as follows: wave 1 ending at $0.93; wave 2 at $0.43; and wave 3 expected to close at $1.88, $5.85, possibly towards $18.22.

The completion of the regular ABC corrective wave supports the possibility of upward movement, but the trader warned followers of a potential decline to $0.3917 if certain conditions aren’t met. While there’s a possibility, the analyst believes the chances are reduced if XRP stays above $0.52.

In a recent update, the analyst stated that XRP is on the road toward $1.88 after spotting a daily break for the indicators above.

Ripple Vs. SEC: SEC Scores a Small Win

The legal battle between Ripple and the SEC can considerably affect XRP’s market performance. Notably, the first wave discussed by Dark Defender coincided with Judge Analisa Torres’ ruling in July 2023, affirming XRP’s non-security status in most assertions, leading to a surge in value.

Wave 2 followed suit, witnessing a retracement of those gains as XRP experienced a decline to as low as $0.39.

In the latest development between Ripple vs. the SEC, a US judge ruled in favor of the agency and instructed Ripple Labs to disclose its financial records for the years 2022-2023. Ripple must also provide information concerning the proceeds from institutional sales of XRP as part of the process to assess the necessity and fairness of a potential injunction.

Ripple’s price has remained relatively stable at around $0.50 over the past week, prompting market observers to speculate about potential price swings in the near future.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

Source link

Related posts

Bitcoin "Newbie Whales" Now Hold Unprecedented $7.3B Profit

2 Mins read
On-chain data shows the newbie Bitcoin whales hold an all-time high amount of unrealized profit following the latest rally in the asset…

TRON Hits 95 Million Addresses Milestone, Will This Help Price?

2 Mins read
On-chain data shows the total number of addresses on the TRON network has exceeded the 95 million mark, a major milestone for…

Bitcoin Surpasses $61,000 As New All Time High Approaches

2 Mins read
Bitcoin surged past the $61,000 mark today, edging closer to a new all-time high as spot Bitcoin ETF inflows and investor enthusiasm…



Leave a Reply

Your email address will not be published. Required fields are marked *