Analyst Dark Defender: XRP Monthly Wave 4 Complete — Targets $5.85 Wave 5 Rally
Crypto analyst Dark Defender publishes a monthly Elliott Wave study concluding that XRP’s multi-month corrective phase (Monthly Wave 4) is complete. He maps Wave A down to roughly $1.60–$1.88, Wave B up to about $3.66, and Wave C finishing inside an identified accumulation band between $2.2222 and $1.8815. With the correction deemed complete, Dark Defender projects a Wave 5 impulse using Fibonacci extensions targeting approximately $5.85 — a structural target based on wave counts and ratios rather than speculative price calls. The analyst emphasizes this is technical analysis (not financial advice) and recommends a disciplined, long-term structural approach. Key SEO terms: XRP, XRP price, Elliott Wave, Fibonacci, price target. The main keyword "XRP" appears multiple times to aid discoverability.
Bullish
The analysis presents a bullish structural scenario for XRP: completion of a long-term Wave 4 correction followed by a projected Wave 5 impulse targeting roughly $5.85. For traders this implies medium- to long-term upside potential for XRP if the Elliott Wave count and Fibonacci extensions hold. Short-term effects may include continued volatility around the stated accumulation band ($1.88–$2.22) as the market consolidates and tests support. Confirmation triggers for traders would be sustained price action above the accumulation range and bullish momentum indicators (volume upticks, moving-average crossovers). Conversely, a decisive break below the $1.88 level would invalidate this wave count and could be bearish. Overall, the piece should be treated as a technical scenario: it increases bullish conviction for traders who follow wave structure but requires risk management through stops and size limits due to typical corrective volatility.