Crypto analyst Dark Defender released a new technical outlook for XRP, projecting strong future gains even after the recent defeat of the CLARITY Act in the US Senate. The forecast points to a sequence of potential price surges, reaching as high as $10.1101, regardless of the bill’s status.
Technical analysis points to major breakout
According to Dark Defender’s latest analysis, XRP is currently finishing a corrective ABC pattern, with Wave (C) finding support near the 50% Fibonacci level at $1.2939. Price action is consolidating around $1.3921, which aligns with both the 61.80% and 70.20% Fibonacci levels—$1.3798 and $1.4445, respectively.
From this base, the analyst’s chart signals the beginning of a five-wave Elliott Wave impulse. The third wave points to a notable move, targeting the 361.80% Fibonacci extension at $7.0786. A pullback is anticipated in Wave (4), which could see XRP drop to $4.1043, before the fifth and final wave potentially drives the asset up to $10.1101 at the 427.20% extension.
Pricing patterns indicate the “road to $7, first,” with a breakout forming irrespective of the CLARITY Act’s passage. The analysis pins the immediate price zone as the starting point for this projected surge.
| Wave | Target Level | Fibonacci Level |
|---|---|---|
| (C) | $1.2939 | 50% |
| Current Zone | $1.3921 | 61.80%-70.20% |
| (3) | $7.0786 | 361.80% |
| (4) | $4.1043 | – |
| (5) | $10.1101 | 427.20% |
Elliott Wave Theory, as used in this analysis, is a technical analysis method that aims to forecast financial market trends by identifying recurrent wave patterns formed by collective investor psychology.
Mini dictionary: Elliott Wave Theory, a market analysis framework developed by Ralph Nelson Elliott in the 1930s, is used by traders to identify cycles in securities prices based on wave patterns believed to reflect investor sentiment shifts.
Senate rejects CLARITY Act but analyst’s outlook holds
The CLARITY Act, a crypto regulatory bill, was recently voted down in the US Senate, failing to achieve a simple majority with 49 votes in favor and 50 against. Notably, Democrats who were involved in negotiating the legislation opposed the bill during the final vote, joined by four Republican senators. Senator Cynthia Lummis highlighted that delays in passing crypto legislation could postpone further regulatory clarity until at least 2030.
Despite the bill’s failure, Dark Defender maintained that the expected wave pattern for XRP would emerge regardless. He had previously asserted that XRP’s price action was not dependent on the outcome of the CLARITY Act vote and stood by this analysis following the Senate’s decision.
The CLARITY Act may have stalled, but the projected technical formations for XRP remain unaltered, according to Dark Defender, with the asset expected to follow the outlined impulse trajectory.
Dark Defender is known among the crypto community for providing detailed technical outlooks on XRP, often utilizing Elliott Wave Theory and Fibonacci analysis. His projections focus on chart patterns and market psychology rather than short-term regulatory news.
Mini dictionary: Dark Defender is a crypto analyst who shares chart-based technical analysis and predictions for XRP, often under the handle @DefendDark on X (formerly Twitter).
XRP’s future price action
XRP is currently trading just above key Fibonacci support levels identified in the analysis. If the projected Elliott Wave impulse plays out, Wave (3) could take XRP up to $7.0786, with the chart suggesting this rise may occur by October. This move would represent a new record for XRP.
A corrective decline is forecasted in Wave (4) for November, targeting $4.1043. Following that, Wave (5) is expected to push the price toward $10.1101, according to the technical roadmap. The analyst’s outlook asserts that XRP remains positioned for this major move, undeterred by the legislative setback in the Senate.
