XRP Price Analysis: Elliott Wave Structure Shows Near-Term Rally to $18.22

Dark Defender, a crypto analyst known for his insights on X, shared a bullish analysis of XRP, predicting a breakout within 16-20 hours. His forecast is based on a symmetrical triangle forming in the 4-hour timeframe, which he expects XRP to break to the upside. This chart builds on an Elliott Wave structure established in August 2023.

In his detailed chart, Dark Defender highlighted key price targets derived from the Elliott Wave principle. The third wave’s target was $5.85, with an additional focus on $4.55 as an intermediate level. These targets align with a broader bullish projection, reflecting optimism about XRP’s potential price movement over the coming weeks.

I expect #XRP to break out the 4-hour triangle within 16-20 hours, upside.

We set our weekly structure in August 2023, and the third Wave targeted $5.85.
Since then, we have used the same targets with an additional $4.55 level.

Next week will be Dynamic. pic.twitter.com/gBGdTClrVF

— Dark Defender (@DefendDark) January 26, 2025

Breakout Expectations and Retest Confirmation

The analysis also points out the importance of eliminating the break-even line. According to Dark Defender, this line acts as a key resistance, and its confirmation during a retest strengthens the case for a bullish breakout. The chart suggests that once this breakeven level is surpassed, XRP could move swiftly toward its next Fibonacci targets.

The 4-hour symmetrical triangle, highlighted in the chart, plays a pivotal role in the near-term outlook. The breakout from this pattern could mark the beginning of an upward move toward the projected levels.

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Another prominent analyst recently showed XRP’s breakout from a symmetrical triangle , and Dark Defender remains confident that the breakout will occur within 16-20 hours, reinforcing his long-standing bullish stance on XRP.

Targets For XRP

Dark Defender’s prediction aligns with other bullish analyses for XRP. A prominent crypto figure recently described a $10 target as conservative, emphasizing that most investors might not be ready for the potential surge. XRP’s breakout from this larger symmetrical triangle has been linked to long-term bullish projections by other analysts.

The upcoming targets outlined in Dark Defender’s chart are $5.85 at the Fibonacci 261.8% extension level and $18.22 at the Fibonacci 361.8% extension level. While these targets seem lofty, Dark Defender has previously reiterated them , expressing significant confidence in these predictions.

XRP is currently trading at $3.03, after a brief dip below $3 over the past 24 hours. However, the digital asset’s recovery was swift, and investors and analysts are confident that something big is coming.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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