Dark Defender Claims XRP Could Reach $4.39 If Current Level Is Sustained

XRP Technical Analysis

• Current Market Position: XRP is currently consolidating within a defined technical structure, with traders observing its ability to maintain recent support levels.
• Elliott Wave Pattern: Analyst Dark Defender has identified that XRP is following a five-wave impulsive Elliott Wave pattern, with the fourth corrective wave completed. The fifth wave is anticipated to target $4.39, provided XRP holds above the critical support level of $2.85.

Key Support and Resistance Levels

• Critical Support Level: The $2.85 level is highlighted as a crucial threshold for XRP's continuation. This level aligns with the 23.6% Fibonacci retracement, reinforcing its importance as a support zone.
• Potential Upside Projection: If XRP maintains its position above $2.85, it could see a potential increase of 54%, reaching the projected target of $4.39, which corresponds to a 161.8% Fibonacci extension of the previous impulse.

Market Sentiment and Future Outlook

• Bullish vs. Bearish Perspectives: While some analysts suggest that XRP may have exhausted its bullish momentum, Dark Defender's analysis supports a bullish outlook based on the technical pattern.
• Pivotal Moment for XRP: XRP is at a critical juncture, with its ability to sustain above the $2.85 support level determining whether it will continue its upward trajectory or face a reversal.

Disclaimer

• Investment Caution: The content is intended for informational purposes only and should not be considered financial advice. Readers are encouraged to conduct their own research before making investment decisions, as any actions taken are at their own risk.