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Cryptoe Dark Defender (@DefendDark) has released An updated technical table that indicates that XRP could be on its way to reaching the long -awaited price level of $ 8 in the “next days.” The box, shared in X yesterday, shows a complete Elliott wave structure with clearly defined support and resistance levels, along with a remarkable correction that currently takes place below the $ 3 price zone.
The first analyst made of the table in X: I will explain how XRP is expected to point $ 8 in the next few days with key levels and my entry and exit strategies […] I will share it in x […]. “Later he shared the picture and explained:“ XRP continues the daily correction and consolidates under the level of $ 3, which will be the equilibrium point to continue with our objectives. Wave 3 indicates that $ 5.85 is in sight and more close to never.
Boarding XRP analysis broken down
According to the last daily Dark Defender table, XRP has been operating inside a descending channel (identified by two white tendency lines), which it previously exploded. The analyst denotes five imminent waves (labeled (1) A (5)) in an Elliott wave formation. The wave (1) reaches its maximum point of about $ 3,3999, while the subsequent correction, labeled (2), returns within the Ichimoku cloud region in the graph.
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In the table, XRP is around $ 2.56, and the analyst emphasizes the critical level of $ 3 as the “balance point” necessary to resume the bullish impulse towards higher objectives. The XRP price must break the upper white trend line in the table to generate impulse in Wave (3).
The graph also has a Fibonacci extension line of 261.8% highlighted around $ 5,8563, indicating a projected wave target (3). After an alleged wave (4) setback below $ 4.50, the wave (5) is directed to $ 8+, an area that Dark defend believes that XRP could reach “shortly.”
In the comments section under the publication, a user, @pommapomatum, questioned whether XRP’s second wave was legitimately submerged below the start of the wave (1), a movement typically inconsistent with the classical theory of the Elliott waves. Dark Defender responded by citing a historical precedent since December 6, 2017.
“You’re right. However, when we verified XRP’s history, we see similar wades to clear the way for the next movement. We had this type of extraordinary movement on December 6, 2017. XRP went from 30 cents to 0.002 cents and then inside One month, XRP reached the AH at $ 3.82, ”said Dark defend.
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@Pommapomatum replied that the 2017 Wick has been specific to exchange and has not indicated the conditions of the entire market. Dark Defender recognized this concern, noting that not all platforms showed the dramatic wick in 2017 and that the same discrepancy appeared yesterday in certain exchanges.
“It was the same case yesterday. Not all exchanges had the same fuse. For example, Kraken. I think it is an exception and chosen to exclude that fuse but closed the candle, ”said the analyst.
In particular, Ichimoku’s cloud in the table underlines continuous consolidation as the XRP price moves below the $ 3. Dark Defender threshold describes this support zone as a key to the upward Above $ 3 would confirm the next main wave towards $ 5.85 (wave (3)) and, ultimately, an objective of $ 8+ (wave (5)) if the pattern continues through the forecast.
At the time of publication, XRP quoted at $ 2.50.
Outstanding image created with Dall.E, Record of TrainingView.com
