Crypto Pundit Says XRP Looks Excellent Here, Gives Reasons Why

Crypto analyst Dark Defender has issued a bold outlook for XRP, stating on X that the asset is on a clear path toward multiple upside targets. His remarks come at a time when the asset bulls are trying to hold a support level at $2.42, with technical patterns suggesting the asset may be preparing for a significant breakout. 

XRP Faces Minor Resistance on the Way to $2.75, $5.85 in Sight

XRP’s price action is starting to see some positive note, recently pushing as high as $2.56 in a 7-day timeframe. Although it met resistance and reversed on a downtrend early last week, it eventually found support at $2.36 and started a fresh uptrend. This up-and-down movement is seemingly an average price action playout, but technical analysis on the daily candlestick timeframe chart shows that the price quietly changed a downward sloping resistance trendline into support at $2.36.

Now, the next outlook for the altcoin is an upward movement after this fresh uptrend above the resistance trendline. With this in mind, crypto analyst Dark Defender predicted that the cryptocurrency is on the road to $5.85. The analyst also highlighted, a closer price target at $2.75, though noting that XRP may experience some difficulty breaking through $2.55. 

The predicted difficulty at $2.55 is in response to its rejection last week. However, Dark Defender’s phrasing was straightforward; “XRP looks excellent,” reflecting strong conviction in the token’s current setup after his analysis.

Exponential Fibonacci: $5.85 Isn’t The Limit For The Altcoin

Dark Defender’s prediction of a $5.85 price target for XRP would see the crypto breaking above its current all-time high. However, this pales in comparison to the analyst’s long-term projection.

The projection to $5.85 is only one part of Dark Defender’s broader analysis. In a previous post, he outlined a more ambitious long-term scenario using exponential Fibonacci levels and Elliott Wave theory. According to him, the common belief that XRP cannot exceed $10 is a misunderstanding of exponential modeling. He argued that the altcoin is currently in an impulse wave 3 on a multi-year timeframe. If wave 3 fully extends during this phase, it could reach $77.7, with wave 5 targeting a three-digit price zone.

His roadmap emphasizes staying above the $2.3951 median, a level he says has been in play since November. From there, the chart suggests a run to $8, which could lead the asset toward a new range between $18 and $23. These projections are based not only on wave extensions but also on volume trends, RSI behavior, and repeating historical patterns, which the analyst believes all align to support an incoming rally.

At the time of writing, XRP is trading at $2.42.

Featured image from iStock, chart from Tradingview.com