Analyst: XRP Completed Wave 4 — Breakout Could Target $5.85
Analyst Dark Defender says XRP has completed a corrective Monthly Wave 4 and may be entering a bullish Wave 5. Sub-waves reportedly bottomed in a $2.07–$2.36 zone, forming a base. XRP trades around $2.17 and sits just above key support near $2.00–$2.20. A decisive daily/weekly close above $2.40–$2.60 (immediate resistance) would strengthen the Wave 5 thesis and could open targets toward mid-single digits. Analysts reference the 261.8% Fibonacci extension near $5.85 as a primary upside projection, with higher levels possible if momentum accelerates. Key confirmations for traders: a daily close above $2.50–$2.60, rising volume on rallies, and supportive momentum indicators (RSI/MACD). Risks include losing $2.00–$2.20 support, a failed breakout, weak volume, or adverse macro conditions that would invalidate the bullish count and keep XRP consolidating or lower. This is analysis, not financial advice.
Bullish
The article presents a technical, bullish scenario: completion of a corrective Wave 4 and the start of an impulsive Wave 5, with clear support ($2.00–$2.20) and resistance ($2.40–$2.60) levels and an upside Fibonacci target near $5.85. For traders, the setup is actionable — a clean daily/weekly close above resistance with rising volume and supportive RSI/MACD would likely trigger short-term momentum trades and attract fresh buying, potentially driving price toward the cited Fibonacci extensions. Historically, Elliott Wave counts paired with strong volume and macro calm have produced significant rallies (e.g., past XRP and altcoin moves after multi-month bases). However, the bullish view depends on confirmations: losing the $2.00–$2.20 support or observing a failed breakout would rapidly shift the outlook bearish or neutral. In the short term, expect heightened volatility around the breakout zone as momentum traders test the structure. In the medium to long term, if Wave 5 sustains and broader crypto market conditions remain favorable, XRP could revisit multi-dollar targets; otherwise, the asset may remain range-bound or decline. Traders should manage risk with stop-losses near the support zone and watch volume and macro drivers.