XRP Price Predictions Shine Amid SEC Chair’s Impending Resignation
The crypto community is abuzz as speculation swirls around the upcoming departure of SEC Chair Gary Gensler, slated for January 20, 2025. This shift in regulatory leadership is fueling optimistic forecasts, particularly for XRP. Analyst Behdark has sparked attention with his striking prediction that XRP’s value could skyrocket to $28, drawing on insights from the Elliot Wave theory.XRP’s Potential Valuation Trajectory
In his latest analysis on TradingView, Behdark outlines a compelling scenario where XRP may breach double digits by 2026. Initially, he posits that XRP could first reach $15 before climbing higher to $28. His assessment delves into XRP’s recent price patterns and outlines the rationale behind his bullish outlook. Behdark notes that XRP is currently forming a “running triangle” pattern, with wave D likely nearing an end as it approaches the previous all-time high of $3.84. He anticipates a price correction in wave E before a robust upward trend takes hold. Following this adjustment, he foresees XRP surpassing the $15 threshold; a leap to $28 would suggest XRP could command a staggering market capitalization of about $2.8 trillion. Although this target may seem ambitious, Behdark clarifies that his findings are grounded in technical analysis, while acknowledging that fundamental market shifts often become evident through price movements. He encourages traders to pay keen attention to emerging patterns as XRP approaches wave E within the triangle, signaling a ripe opportunity for strategic investments.Reinforcing Insights from Fellow Analysts
Adding to this optimistic outlook, another analyst known as Dark Defender has corroborated the potential for XRP to reach double-digit prices with his own Elliot Wave analysis. His forecast indicates that XRP could reach $18 during wave 5’s anticipated impulsive move. While Behdark’s timeline suggests that this rally may occur by 2026, Dark Defender believes that price movements could unfold as early as mid-2025. Currently, he highlights that XRP is traversing through wave three, and he anticipates it could rise to around $5 in the impending impulsive phase. Following this surge, Dark Defender envisions a corrective dip bringing XRP down to about $4. Nevertheless, he expects subsequent impulses to propel the currency towards the $18 target.Current Market Dynamics
At present, XRP is trading around $1.55, having surged over 10% in the last 24 hours, according to CoinMarketCap data. As excitement grows about the potential impact of Gensler’s departure on the regulatory landscape, XRP enthusiasts are closely monitoring these price predictions and market movements.Source: Bitcoinist.com
