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 XRPās 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 assetās price within a broader trend.
It consists of three waves: A, B, and C, each helping traders identify trend continuations and potential entry points during pullbacks. Applied to XRPās 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 arenāt met. While thereās 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.
The legal battle between Ripple and the SEC can considerably affect XRPās market performance. Notably, the first wave discussed by Dark Defender coincided with Judge Analisa Torresā ruling in July 2023, affirming XRPās 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.
Rippleās 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.
The post Huge Ripple (XRP) Price Prediction By Popular Analyst, But Thereās a Catch appeared first on CryptoPotato.
The trader used several indicators and chart patterns to gauge XRPās 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 assetās 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 XRPās 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 arenāt met. While thereās 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 XRPās market performance. Notably, the first wave discussed by Dark Defender coincided with Judge Analisa Torresā ruling in July 2023, affirming XRPās 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.
Rippleās 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.
The post Huge Ripple (XRP) Price Prediction By Popular Analyst, But Thereās a Catch appeared first on CryptoPotato.
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