XRP is drawing renewed attention following an analysis from Dark Defender, a well-known market strategist, who stated that the cryptocurrency may be concluding a significant corrective period
XRP is drawing renewed attention following an analysis from Dark Defender, a well-known market strategist, who stated that the cryptocurrency may be concluding a significant corrective period and could soon begin a major upward movement.
Dark Defender, recognized among crypto analysts, recently shared an Elliott Wave analysis indicating that XRP is close to finalizing its macro Wave 4 correction. In Elliott Wave Theory, this phase often precedes a substantial Wave 5 rally, which typically brings new highs as markets cyclically alternate between corrections and advances.
The strategist identified four potential resistance zones for XRP if the rally gains momentum: $2.90, $5.86, $9.04, and $18.23. Rather than suggesting these figures as short-term targets, Dark Defender positioned them as milestones XRP might approach as the broader market uptrend evolves.
XRP is currently trading at $1.08, indicating significant potential upside if the Elliott Wave structure holds and the bullish scenario plays out.
Elliott Wave Theory is a widely used technical analysis approach in both traditional and digital asset markets, built on the principle that prices move in repeating cycles driven by investor sentiment.
Mini dictionary: Elliott Wave Theory, a technical analysis model that argues market trends move in five main waves (three advances and two pullbacks) followed by three corrective waves. Investors and analysts often use it to forecast market turning points.
Recent months have seen XRP’s underlying fundamentals stabilize, with growing institutional use of the XRP Ledger—a blockchain network designed for fast and cost-effective cross-border payments developed by Ripple. Ripple, a fintech company, actively promotes solutions for the global payments industry and leads development of the XRP ecosystem.
According to industry reports, institutional partnerships and expanding adoption of tokenization on the XRP Ledger have strengthened overall market confidence. These improvements in liquidity and utility could provide a crucial foundation for technical advances if a rally occurs.
A particularly notable development is the sustained demand for XRP among South Korean retail investors. Despite broader market challenges and a sharp decrease in the country’s stock market, XRP has been trading with roughly four times the volume of Bitcoin on major South Korean crypto exchanges. This distinctive trend highlights XRP’s strong position in one of the world’s leading digital asset markets.
AssetTrading Volume (South Korea)Market SentimentXRP4x higher than BTCStrong demandBTCBaseline referenceLower comparative demandTraders have also observed that bulls continue to defend important support zones as XRP consolidates above the $1 mark. A decisive push above $1.10 is being closely watched as possible confirmation of strengthening upward momentum.
Dark Defender’s projections, while optimistic, rest on the condition that XRP holds critical support. If buyers remain in control and the bullish scenario unfolds, XRP could embark on a new macro rally phase with potential targets reaching as high as $18.23 over a longer time horizon.
Dark Defender mapped out resistance levels at $2.90, $5.86, $9.04, and $18.23, marking them as checkpoints for XRP as the bullish wave progresses.
While these milestones are subject to market conditions and wider crypto trends, analysts believe the prolonged correction in XRP appears to be approaching its end, possibly setting the stage for renewed price appreciation.
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