The XRP price prediction has captured the attention of both experts and investors alike, with forecasts suggesting the cryptocurrency could soon hit $5. XRP, the digital asset native to the Ripple network, has experienced volatility since its inception, especially with the SEC’s legal challenges. However, recent developments, including Ripple’s legal wins and growing adoption, have sparked renewed optimism. Experts like Dark Defender and CasiTrades predict significant gains for XRP shortly, suggesting that the cryptocurrency could soon break its all-time highs.
XRP’s Market
XRP has had a rocky past, especially after the SEC sued Ripple Labs in late 2020. The complaint claimed Ripple sold XRP in an unregistered securities offering, causing enormous price volatility. However, recent developments in the case have favoured Ripple, leading many investors and experts to anticipate a significant rise in XRP’s price. XRP is rallying in late 2024 due to multiple major events. XRP’s market sentiment has improved due to Ripple’s legal wins, financial institutions’ acceptance, and growing interest in blockchain technology for cross-border payments. Many experts expect XRP to hit $5 shortly because of this trend.
XRP Rally Predictions
In a post on X, Dark Defender hinted that XRP could reach $5 shortly. Furthermore, he disclosed that XRP’s ABC corrective wave pattern on the daily time frame is almost complete. According to the Crypto expert, for XRP to experience a significant rise, it must first break through the critical resistance level of $2.52. Once this barrier is surpassed, XRP is expected to reach $5.85, potentially reaching even higher levels. Based on technical patterns and current market trends, the analyst predicts that this market cycle could culminate with XRP peaking at around $18.22. The Crypto analyst based his earlier forecast that XRP may reach this price objective on his study of the Elliot Wave theory. He has previously predicted that cryptocurrency prices will hit $18 by the middle of 2025.
Note that the fundamentals of XRP are also optimistic. In preparation for the imminent launch of the RLUSD stablecoin, Ripple Labs has just received clearance from the NYDFS. More money will flow into the XRP ecosystem after this launch, which can lead to a price increase for the cryptocurrency. On the other hand, rumours have circulated that Paul Atkins’s incoming SEC administration may decide not to pursue an appeal against Ripple. Given that the litigation has negatively impacted the price of XRP, this decision could significantly boost the cryptocurrency. Also, XRP whales have been buying the cryptocurrency at a rapid pace. According to CoinGape, Ripple Whales bought 100 million coins as the price dropped.
XRP’s path to $3.46
Crypto analyst CasiTrades made an optimistic prediction for the price of XRP in an X post. Suggesting that the cryptocurrency might be poised for a “big move” shortly. She stated that XRP has successfully tested the 0.382 support level. Following a successful test of this .382 support, CasiTrades said that $3.46 is the next goal for the XRP price. She said breaching the present ATH is essential; therefore, a rally to this level would be tremendous. The Crypto researcher said XRP might establish resistance instead of continuing its rise if it fails to surpass its all-time high.
Also Read: Bullish Crypto Momentum Pushing Bitcoin and Altcoins Higher
Summary
Since 2020, SEC legal difficulties have caused XRP, Ripple’s digital asset, to fluctuate in value. XRP is gaining speed toward 2024 despite difficulties. Crypto gurus like Dark Defender and CasiTrades expect prices to increase to $5. Dark Defender emphasizes that XRP must clear the $2.52 barrier level to rise to $18 by mid-2025. Ripple’s legal successes, institutional acceptance, and RLUSD stablecoin debut should increase XRP’s market sentiment. The massive currency purchases by XRP whales and the reports that the SEC may not appeal have further boosted optimism. If we break the all-time high, CasiTrades anticipates a rise to $3.46 and $5. XRP may meet resistance if it fails to exceed this level.
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