Crypto market analyst Dark Defender has unveiled a fresh update on the trajectory of XRP, emphasizing a five-wave Elliott structure he identifies as the “5th Monthly Wave.” According to Dark Defender’s projections, XRP may be concluding its corrective phase, setting the stage for a potential upward surge. The analyst highlights critical price targets and support levels that could define the next phase of XRP’s market movement.
Key Resistance Levels: $2.222 and $2.36
In his latest analysis shared on X, Dark Defender pinpointed $2.222 and $2.36 as notable resistance levels that XRP has struggled to breach in recent weeks. The asset recently peaked at $2.13 before retreating, aligning with the forecasted resistance points. Dark Defender underscores the significance of the $2 support level, suggesting that this could be a pivotal zone to monitor as the corrective phase nears completion.
Hi all. I hope you are fine!
— Dark Defender (@DefendDark) May 5, 2025
I couldn't update you for a while, and I appreciate your patience.
🟠I shared some notes, and as expected, #XRP found resistance at $2.222 and $2.36. This played out, and we touched $2.13 yesterday.
🟡XRP is getting ready to finish the correction… pic.twitter.com/MG4FAYzZ09
Elliott Wave Structure Projects Potential Rally to $6.30
The technical analysis reveals that XRP is now entering a five-wave structure, with Dark Defender identifying the current pullback as part of the final corrective wave. The new projection outlines a potential advance toward the $3 range, marking the first wave of a larger impulse sequence. Subsequent waves could propel XRP to $4.40 and eventually to $6.30, if the pattern follows the projected path.
Fibonacci Levels and Multi-Month Rally Outlook
Dark Defender’s chart also references Fibonacci extension levels, emphasizing the 161.8% level at $1.8815 and the 261.8% level at $5.8563. The $1.88 support zone is positioned as crucial for sustaining bullish momentum, reinforcing the broader bullish outlook. Despite recent market volatility, the analyst maintains a positive stance, urging traders to keep a close eye on XRP’s structure as it potentially enters a multi-month rally phase, extending into late 2025.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Ripple Not Suppressing XRP Price, Legal Expert Bill Morgan Debunks Viral Claim
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