XRP has long traded at a fraction of Bitcoin and Ethereum’s value, but recent analysis by prominent cryptocurrency analyst Dark Defender suggests a shift could be underway. He published technical chart data spanning from 2018 through a forecast to 2027, asserting that a significant reversal in the XRP/ETH trading pair has begun.
The Elliott Wave structure
Dark Defender highlighted a completed five-wave bearish cycle on the XRP/ETH pair, pinpointing a Wave V low at 0.0001251 ETH. From this point, he identifies the start of a new bullish Elliott Wave sequence. The Elliott Wave Theory is a technical analysis tool in financial markets that aims to forecast trends by identifying recurring patterns in prices and investor psychology.
The analyst’s chart illustrates a five-wave impulse progressing off the recent bottom. Waves (1), (2), (3), and (4) are already depicted. Wave (3) saw XRP reach 0.0013000 ETH before retracing in Wave (4), which held above the 61.8% Fibonacci retracement at 0.0003125 ETH.
According to Dark Defender, Wave (5) could extend to the 361.8% Fibonacci projection at 0.0022380 ETH. At present ETH prices, that target implies a notional XRP price above $5.60, far surpassing the current rate of 0.0005411 ETH. He notes that the RSI indicator now shows 42.82 on the signal line and 38.35 on the main line, highlighting what he describes as a return from oversold territory after Wave (4).
XRP will not only dominate Bitcoin but also Ether, with Wave 5 expected to see XRP appreciate against both and quickly overtake them.
Mini dictionary: Elliott Wave Theory — A technical analysis framework that interprets market cycles and patterns based on investor sentiment themes, often forecasting trends in asset prices using sequences called “waves.”
XRP dominance forecasts
Beyond chart analysis, Dark Defender maintains that XRP can surpass not only Ethereum, but also Bitcoin, in both value terms and perceived market leadership. The analyst stated that “XRP will not only dominate Bitcoin but also Ether,” predicting that the digital asset will “appreciate against Ether and Bitcoin, and then flip them instantly with Wave 5.” This perspective closely parallels recent remarks from David Schwartz, who remains a high-profile figure as CTO Emeritus at Ripple, the company responsible for developing and promoting XRP.
Challenging conventional valuation methods, Dark Defender argued, “Market cap in Crypto is an illusion and doesn’t represent the money poured into an asset.” He contends that crypto market capitalization, which multiplies price by supply, does not directly correspond to investor inflows or reflect the liquidity available for trading.
Market cap in crypto is an illusion and doesn’t represent the money poured into an asset. XRP will flip both Bitcoin and Ethereum.
According to his analysis, raw market cap figures do not pose a fundamental limit on XRP’s growth. That, he claims, makes the possibility of XRP surpassing Bitcoin and Ethereum in market standings arguably more likely than many traditional analysts believe.
Key chart levels and next steps
The outlined chart scenario shows the retracement of Wave (4) potentially ending, paving the way for Wave (5) to initiate a new upward burst toward the 0.0022380 ETH mark. Fibonacci levels on the chart highlight 23.6% at 0.0007773 ETH, 38.2% at 0.0005487 ETH, and 50% at 0.0004141 ETH as short-term support levels, should price volatility persist during this phase.
| Level | ETH Value | Description |
|---|---|---|
| Wave V bottom | 0.0001251 | Start of new bullish sequence |
| Wave (3) peak | 0.0013000 | High before retracement |
| Wave (4) retracement | 0.0003125 | 61.8% Fibonacci |
| Wave (5) projected target | 0.0022380 | 361.8% Fibonacci; major target |
| Current price | 0.0005411 | XRP/ETH rate at time of analysis |
