Although the majority of assets in the cryptocurrency market have been slowing down their gains recently, XRP (XRP) is recording advances on all of its charts, particularly in the last 24 hours, which one crypto analyst believes could culminate with a price tag of $5.85.

Specifically, after rumors of a settlement with the United States Securities and Exchange Commission (SEC) sparked a surge and then a retracement when reports saying otherwise came out, crypto expert Dark Defender has suggested that it could skyrocket soon, according to his X post on July 24.

XRP price prediction

As it happens, the crypto trading analyst has pointed out that he has set Wave 3 of the Elliott Wave chart pattern “shorter towards $1.88, which can also extend to the $5.85 Fibonacci Level,” considering that the XRP token “is breaking the Monthly Resistance now!”

Specifically, according to the chart shared by Dark Defender, the currently sixth-largest asset in the crypto sector by market capitalization could reach the predicted price of $1.8816 towards the end of this year and then follow up with the next major target of $5.8577 in the first half of 2026 (Wave 5).

As a reminder, the same crypto market analyst previously observed on a 4-hour time frame chart that XRP was “still on track based on our structure” and could surge beyond the $1 level, taking into consideration the beginning of the current wave, with original targets at $0.87 and $1.03.

XRP price analysis

For the time being, the current XRP price stands at $0.62879, which suggests a 5.39% advance in the last 24 hours, an accumulated gain of 0.46% across the previous seven days, and a 30.59% increase on its monthly chart, according to the most recent information retrieved on July 24.

All things considered, the price of XRP could, indeed, soar to the predicted levels by the time projected by the crypto analyst. However, trends in the industry can change, so keeping up with any XRP news today and in the future, as well as Ripple news, such as Ripple v. SEC case updates, is critical.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.