- Market experts have predicted that XRP might reach as high as $5.85 once a certain correction is phased out.
- Ripple’s upcoming victory party will play a role in boosting XRP with a major announcement to be confirmed during the event.
XRP investors are optimistic that the digital asset will set a new all-time high soon. Market commentator going by the name Dark Defender on X (formerly Twitter) has made a $5.85 prediction on the 6th-ranked altcoin in the crypto market. Interestingly, this is higher than the coin’s all-time high of $3.84 reached almost 5 years ago.
Before XRP can reach such levels, the digital asset will face a turbulent couple of weeks. For the last couple of days, XRP has been hovering above the $0.46 support. This is a crucial support which if breached will lead to a retest of $0.39. After the ruling of Judge Torres that XRP is not a security a few months ago, the coin rallied to $0.93 before facing major resistance.
The market commentator noted;
Hi there. We discussed #XRP stopped @ $0.93 & named as Wave 1, proceeding with Wave 2, corrective. On the 2nd of Sep, we called the final supports in sight: $0.46 & $0.39. XRP is now hovering on $0.46 support, if we see below this the final support will be at $0.39. Then I expect this W2 Correction to be over and Wave 3 targets of $1.88 & $5.85 will be in play.
Based on this analysis, XRP is going through phases, having completed wave 1 which saw the asset almost breach the $1 target, Wave 2 has been a phase of correction which has since seen the token hover in its current support. Next is wave 3 which will usher in the bullish phase and push prices to new all-time highs.
Prominent crypto analyst Nebraskangooner has also been sharing his predictions of XRP. The analyst has warned about the importance of the $0.50 level. Commenting on X, the analyst wrote, “From a trading perspective I’d be looking for a break above the outline for a potential (small) upside move. Anything below is knife-catching. Needs to hold the breakout on the left or else big drop potential.”
$XRP (per request)
Hopefully your favorite influencer wasn't telling you to buy the pump again.
From a trading perspective I'd be looking for a break above the outline for a potential (small) upside move.
Anything below is knife catching. Needs to hold the breakout on the… pic.twitter.com/aE7w6vq5id
— Nebraskangooner (@Nebraskangooner) September 12, 2023
Many in the XRP community are optimistic that the upcoming victory party will play a major role in the price surge. The victory party to be hosted by Ripple Labs on the 29th of September in New York is a celebration of Ripple’s win against the SEC after the courts ruled XRP is not a security. AS CNF reported, during the event, a major announcement is scheduled to be announced. This was recently confirmed by Ripple CTO David Schwartz on X.
At the time of press, XRP is exchanging for $0.48 after a marginal change in the last 24 hours. In the weekly charts, XRP has lost nearly 4 percent of its value. Investors are still optimistic about a rally over the coming weeks, possibly breaking above the $1 target.
