Crypto market analyst Dark Defender, known for technical insights on digital assets, has issued a bullish projection for XRP, stating that the current period of price decline may be the final phase before a significant upward move.
Wave structure and Elliott Wave outlook
According to Dark Defender’s analysis, XRP has nearly completed a Wave 2 correction in line with Elliott Wave theory. This technical approach divides price movements into impulsive and corrective phases, and the anticipated next stage, Wave 3, is often associated with strong upward momentum in markets.
Elliott Wave theory suggests that Wave 3 typically outpaces earlier moves in both magnitude and duration, often exceeding the high established during Wave 1. Dark Defender believes that XRP is positioned for such an advance once the correction phase ends.
XRP’s Massive Wave 3 will silence the corridors, as the chart shows a bit left to complete this correction before a major upward move.
Currently, XRP trades at $1.2893. The asset has pulled back through a five-wave decline following its local high at $1.68 in late August. Four waves of this corrective structure have been completed, leaving only Wave 5, which targets a further decrease to the 38.2% Fibonacci retracement level of $1.2133.
Key price levels and technical significance
The 38.2% Fibonacci retracement at $1.2133 is commonly used by chart analysts to identify where corrections may lose momentum and reverse direction. Dark Defender’s chart marks this level as the likely bottom of the current sell-off, and he describes the zone as the final step before a possible strong reversal.
Additionally, the chart highlights $1.5692, a level corresponding to an 85.40% retracement from the recent bounce. This area previously served as resistance in the correction and could become an important threshold as XRP attempts to recover.
Mini dictionary: Elliott Wave theory is a form of technical analysis that identifies patterns in market prices based on cycles of investor psychology. It organizes price moves into specific waves, with the third wave (Wave 3) often representing the most powerful advance in a bull market.
| Level | Value | Technical Role |
|---|---|---|
| Wave B high | $1.68 | Recent local top |
| Current price | $1.2893 | Market price |
| Fibonacci 38.2% | $1.2133 | Expected Wave 2 bottom |
| Fibonacci 85.40% | $1.5692 | Key resistance |
Dark Defender states that only a small decline remains before reaching this critical support, summarizing that “a bit left to complete this correction” separates XRP from entering its anticipated bullish phase.
Expectations for the next move
The analyst expects a new bullish structure—Wave 3—after the ongoing correction concludes. This phase is typically noted for high trading volumes and aggressive appreciation, although the analysis stops short of setting a specific price target for this move.
Once the fifth correction wave reaches the $1.2133 level, XRP is expected to embark on a rally defined by momentum and increased investor activity, potentially overshooting the prior highs.
Dark Defender describes the current price region as less important, viewing it as a buying opportunity for those seeking to participate in any upside potential. He maintains that XRP’s correction has both a defined structure and a plausible end point ahead.
The analyst’s outlook suggests that this corrective environment could set the stage for a significant rally, pending confirmation that the anticipated support level holds.
