XRP news today: XRP's 5th Monthly Wave: Analyst Predicts 180% Gain to $6.30

Crypto market analyst Dark Defender has released a new update focusing on the trend of the XRP price. He outlined a five-wave Elliott structure for what he identifies as the “5th Monthly Wave.”

The analysis, shared with followers on X, offers projected short-term targets and key support levels, suggesting that XRP may be nearing the end of a corrective phase and preparing for a significant upward movement. According to Dark Defender, the $2.222 and $2.36 price levels have acted as expected resistance points in recent weeks, with XRP retreating after reaching a high of $2.13. These price interactions were previously forecasted in his earlier analyses.

The analyst notes that the current correction appears to be entering its final stages. He also indicates that market participants should focus on the $2 support as this phase concludes. The technical chart attached to the update shows that the recent pullback aligns with a descending red trendline and has respected a longer-term structure that Dark Defender had previously mapped. The ongoing pattern is described using Elliott Wave Theory, a technical analysis used to predict price cycles by identifying wave patterns in market trends.

Dark Defender’s projection for XRP now centers on a five-wave advance, with an initial move toward the $3 range. This first wave, labeled as Wave 1 in the newly shared sub-wave count, marks the beginning of what he forecasts as a larger impulse sequence. Waves 3 and 5 are expected to carry the price to $4.40 and then to $6.30. These levels are identified as short-term targets within the broader structure.

The chart also references Fibonacci extension levels, particularly the 161.8% level at $1.8815 and the 261.8% level at $5.8563, reinforcing the potential technical significance of these areas. Support is identified near the $1.88 mark, which aligns with the 161.8% Fibonacci zone and is presented as critical to maintain the bullish thesis.

Despite recent volatility and resistance, Dark Defender maintains a positive outlook for XRP. The message accompanying the chart notes that the analyst has not updated in some time but appreciates the patience of his audience. He emphasizes that this latest projection represents the core structure of the expected move and encourages observers to monitor the market closely as XRP approaches the anticipated surge.

The chart’s weekly timeframe illustrates the anticipated breakout from the downward channel and the transition into the impulsive fifth wave. Labels on the chart outline the past corrective structure and point toward a potential multi-month rally that could stretch into late 2025 if the pattern unfolds as projected.

The update concludes with optimism for followers, reiterating key price targets while reminding readers that none of the analysis constitutes financial advice. The focus remains on the technical structure and potential wave developments, which suggest a bullish bias for XRP in the near term.