Top Analyst Says This Bullish XRP Structure is Rock Solid. Here’s the Target

His latest chart analysis points to two firm upside targets, and the structure supporting those targets has remained intact.

Dark Defender’s assessment is straightforward. XRP has completed a 5-wave Elliott Wave structure, a pattern technical analysts use to identify the exhaustion of a trend and the beginning of a new impulse move. He describes the structure as “rock solid.”

The Orange Resistance Is Gone

A key development in the chart is the break above a long-standing orange resistance trendline. This level had capped XRP’s price since its breakout in late August. Dark Defender confirmed that XRP has “said bye-bye to the Orange resistance capping the price.” The asset’s price now sits above that line, which previously acted as a ceiling.

The current price puts XRP just inside the consolidation range. The chart is marked at $1.6992, and the first resistance level Dark Defender identifies sits at the 70.20% Fibonacci extension, which corresponds to $1.4445. That level is immediately above the current price.

Two Targets in Sight

Dark Defender identifies two price targets above the current range. The first is $1.6992, which aligns with the recent high marked on his chart. The second target is the 161.80% Fibonacci extension, sitting at $1.8815. He stated, “A jump towards $1.6992 and $1.8815 at sight.”

The chart also shows an ABC corrective pattern that XRP completed, recovering toward the $1.44 area. The RSI and its signal line sit at 57.21 and 53.97, respectively. The chart shows a bullish cross forming with the RSI crossing over its signal line. This suggests a potential turning point for XRP.

Elliott Wave Structure Supports the Setup

The 5-wave structure completed with wave 5 bottoming near $0.9852, which the chart marks as the recent low. From there, XRP rallied sharply into the $1.60 range, forming Wave (1) of a new Elliott Wave sequence. It then pulled back through the corrective ABC sequence. That pullback formed Wave (2) of the pattern.

XRP is tracking upward again. The breakout the analyst suggests could form Wave (3) of this sequence, which is often the strongest wave.