The XRP price could rise to $5 in the short term after breaking the $2.52 resistance, and to $18 in the long term, according to analysts. Ripple Labs’ approval of the RLUSD stablecoin, as well as positive developments in the SEC lawsuit, continue to support the price of XRP. Whale buying and technical indicators are signaling a strong rally in XRP.
Crypto analyst Dark Defender predicts that XRP could rise in the short term and reach $5. The analyst emphasized that XRP needs to break the critical resistance of $2.52 to reach this target. If this level is broken, the price of XRP could rise to $5.85 and $18.22 in the long term, respectively. This forecast is based on the assessment that XRP is about to complete the ABC corrective wave pattern on the daily chart, and according to Elliott Wave Theory, XRP is expected to reach these targets by mid-2025.
There are also strong fundamental developments for the price increase of XRP. Ripple Labs received approval from the New York Department of Financial Services for its new RLUSD stablecoin. This development could have a positive impact on the price by providing liquidity to the XRP ecosystem. In addition, the possibility of the appeal of the lawsuit between Ripple and the SEC being withdrawn could be a significant support for XRP.
Recently, large investors have been seen increasing their XRP accumulation. XRP whales have purchased approximately 100 million XRP, taking advantage of price declines. Technical analysis also shows that an increase is imminent in parallel with these purchases. Analyst CasiTrades stated that XRP could make a strong bounce from the 0.382 Fibonacci support and reach $3.46. Breaking this level could mean that XRP will challenge its all-time high.
In order for XRP to reach the projected price levels, the overcoming of technical resistances, positive developments in Ripple's legal process, and general trends in the market will play a major role. It is important for investors to follow whale purchases and fundamental indicators carefully. XRP can be a harbinger of a major movement as a cryptocurrency with the potential to reach both $5 in the short term and $18 in the long term.