How High Can XRP Price Go After The Ripple Victory?

After more than four years, the Commission for US securities and exchanges is interrupting its procedures against Ripple in the XRP cause. The announcement of the CEO Brad Garlinghouse on X – indicating “Here – the moment we were waiting for. The sec will make its charm fall – a sensational victory for Ripple, for cryptocurrency, every way you look at it. The future is bright. We make construction” – have generated waves of optimism among the supporters of XRP.

Although the lawyer Jeremy Hogan has noticed that Ripple can still take a series of shares, the consent between the participants in the market is that this development dissipates a great victory for Ripple. Hogan observed that it is not yet clear if Ripple agrees to drop the appeal. He added that there are 4 possibilities:

A. Ripple continues its appeal and we get a sentence from a Court of Appeal on the fact that investment contracts require contracts, etc.
B. Ripple agrees to abandon its appeal, jurisdiction returns to the court and the parties try to change the sentence.
C. Ripple agrees to drop his appeal and the parties enter into an agreement between them without trying to change the sentence.
D. Ripple pays only $ 125 million and goes on.

How much can xrp go up?

In this context, the Crypto Analyst Dark Defender (@Defendrk) shared an updated daily XRP/USD/USD chart. According to this, XRP broke up a descending trend line that extends in several weeks of commercial activity after the announcement.

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The turning point near the $ 2.47 area was shot in green and labeled as “a clear break” by the dark defender, suggesting that the participants in the market are no longer limited by the downward trajectory that characterized a large part of the previous price action.

The graph also outlines a counting of the Elliott waves aligned with the levels of retracing and extension of Fibonacci. The table illustrates a completed corrective phase and the early development of a new impulsive wave structure, supported by the decisive breakout by a long -standing descending line of trend.

According to the analysis, Wave (1) launched by the minimum local of $ 1.79 and reached the peak of about $ 2.55, marking the first bullish impulse. This was followed by Wave (2), who repaired in the Fibonacci support area.

The retracement respected the level of 61.80% to $ 2,3073 and contacted the level of 70.20% to $ 2,2249, indicating a technically solid corrective wave within the Elliott framework. These levels have provided a solid base for buyers, preventing a further disadvantage and reporting the potential completion of the wave (2).

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Following the corrective phase, the graphic designer projects the beginning of the wave (3), traditionally the strongest in Elliott’s wave theory. Fibonacci extension levels are traced to define the probable objectives for this wave. The extension of 161.80% aligns with $ 3.94, acting as a critical destination area for the wave (3). In addition, the extension of 261.80% close to $ 3.78 further supports this area as a potential area in which the bullish moment could face the resistance or temporary consolidation.

However, Dark Defender provides that XRP could rise even higher in the $ 4.50 region. Upon completion of the wave (3), the graph suggests a corrective wave (4), which should respect the largest trend and descend into the region of $ 3.78 to $ 3.94.

Subsequently, the final impulsive wave (5) is expected to extend to the level of fibonacci of 361.80% to $ 4,9274. This marks a high potential within the current wave cycle of Elliott by the analyst, with the possibility of an increase of $ 6, where the structure of the waves could culminate.

At the time of printing, XRP was exchanged at $ 2.55.

First floor image created with Dall.e, graphic designer by tradingview.com