XRP is once again in the spotlight as crypto analyst Dark Defender (@DefendDark) has released an updated technical chart, indicating that the long-anticipated $8 price level could be within reach in the upcoming days.
The chart, shared on X (formerly Twitter), showcases an Elliott Wave formation, highlighting support and resistance levels and the current correction phase below $3. According to Dark Defender, this setup suggests a powerful breakout ahead.
XRP Price Analysis: Breaking Down the Waves
Currently, XRP trades at $2.50, consolidating within a descending channel marked by two white trendlines. The Elliott Wave structure outlined by Dark Defender predicts five major waves, with Wave (1) peaking near $3.40 and Wave (2) correcting within the Ichimoku Cloud region.
The critical level for bullish momentum is the $3 mark, which serves as the “breakeven point” for XRP’s next upward push. If the price clears this resistance, Wave (3) could propel XRP toward $5.85, as indicated by the 261.8% Fibonacci extension on the chart.
Following a brief Wave (4) pullback below $4.50, the final Wave (5) targets the $8+ zone, which Dark Defender believes could materialize “shortly” based on historical patterns.
XRP’s Historical Patterns: A Sign of What’s to Come?
One X user, @pommapomatum, questioned whether Wave (2) had dipped below the start of Wave (1)—a move that typically contradicts Elliott Wave theory. In response, Dark Defender pointed to a historical precedent from December 6, 2017, when XRP dropped from $0.30 to $0.002 before surging to its all-time high of $3.82 within a month.
This sparked further discussion about exchange discrepancies in historical price data, with Dark Defender acknowledging that not all platforms reflected the same dramatic wick in 2017, just as some exchanges showed a different wick pattern yesterday.
What’s Next for XRP?
At press time, XRP remains at $2.50, with the Ichimoku Cloud signaling consolidation beneath the $3 threshold. Dark Defender emphasizes that a break above $3 would confirm the next leg up, with $5.85 as the next major resistance (Wave (3)) and $8+ as the ultimate target (Wave (5)).
Given the growing speculation and historical price patterns, XRP traders are closely watching whether this setup plays out as predicted, making the next few days crucial for XRP’s long-term trajectory.
