The popular cross-border altcoin Ripple (XRP) has scored some major wins recently, including XRP Futures price addition to the stock market-leading Chicago Mercantile Exchange (CME), adoption in the United Arab Emirates (UAE) on institutional grade.
XRP Deja Vu Sending Price Above $5.85 On Wave 5?
The analyst’s bold call on Ripple’s (XRP) forthcoming price movement suggests a similar structure to that of November 4, 2024. Dark Defender based their opinion on the Relative Strength Index (RSI) flashing the same levels after 200 days.
Moreover, the confluent resistance was proclaimed ‘eliminated’, meaning that the trader expects Ripple’s (XRP) coin price to reach $3.33 as a short-term bull run target. If the bullish theory indeed plays out, the next Elliott Wave could take XRP price to unprecedented heights of $5.85, says Dark Defender.
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While this XRP price prediction seems courageous, it’s worth noting that the many other crypto analysts believe that the 5th Elliott Wave has potential to run XRP price up to double digits for the first time ever.
With the United States government introducing a stablecoin bill key for Ripple’s RLUSD growth and a potential ETF coming up, double-digit XRP price predictions is not out of the question if regulatory wins continue to roll in for Ripple.
At the current Ripple (XRP) coin price range between $2.39 & $2.47, it’s absolutely crucial for Ripple’s native coin to hold the mid-tier Bollinger Band (BOLL), portrayed in blue color. With sufficient crypto whale support, XRP coin needs to break the red-marked $2.47 resistance line.
Luckily for XRP bulls, large crypto holder movement on the XRP Ledger network suggests that whales are maximizing their XRP coin positions. With the Chaikin Money Flow (CMF) meter at 0.22, this is definitely a bullish indicator when combined with a strong trading volume. This is not the case yet, as the OG altcoin’s Spot volume dips by 10.8% in 24 hours to $3B.
On The Flipside
- According to the XRP Ledger stats, both the payments count & payment volume between crypto wallets have dipped over 50% from yesterday.
Why This Matters
Ripple’s XRP crypto has been known to repeat historical price patterns, such as the bull run at the beginning of 2025 to nearly reclaim the all-time peak of $3.40, hit over 7 years ago.
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