XRP Analyst Projects Start of Monthly Wave 5 Toward $5.85 Target
Crypto analyst Dark Defender has confirmed that XRP’s Monthly Wave 4, which began in February, has now played out as expected and that Monthly Wave 5 may be underway.
The chart and commentary provided via X (formerly Twitter) outline an Elliott Wave structure and suggest a bullish continuation, with a potential upside target near $5.85—a 261.8% Fibonacci extension level.
Subwave 4 Hit $2.36, Followed by Bounce to $2.07
According to Dark Defender, Monthly Wave 4 was divided into five subwaves, following a classic corrective structure. Subwave 4 bottomed at $2.36, a key level that acted as the confirmation zone. From there, Subwave 5 began, pushing XRP as low as $2.07 before stabilizing.
“Wave 5 is halfway completed. The remaining part is still to be confirmed,” said Dark Defender.
This progression suggests XRP has already made the first moves of a larger impulse wave, with Wave 5 now set to continue toward new highs.
Wave 5 Confirmation Awaits
Dark Defender’s analysis emphasizes that while the setup for Wave 5 is clear, confirmation is still needed. Once validated, XRP could accelerate rapidly, with the next major resistance seen around $3.50, and a full projection toward the $5.85 zone if Wave 5 fully plays out.
“Nothing can stop this. Nothing,” the analyst declared, signaling strong conviction in the chart setup.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
