Crypto Analyst Expects XRP to Exceed $5.85

A crypto expert predicts XRP will rise over $5.85 based on technical indications and chart patterns. The expert points to various elements, including Elliott Wave theory, that imply a substantial market upturn despite recent stalling.

How XRP Remains ‘Super Bullish’

Dark Defender says three trend lines set XRP's price. Two trend lines create a symmetrical triangle, while the third—a downward-sloping orange line—represents XRP's long-term downtrend, which it just broke above on the monthly chart.


The expert thinks XRP has finished Wave 2—a correction phase with negative price movement—and is entering Wave 3. This wave has great velocity and market involvement, which may explain the expected rise over $5.85.

Technically, the forecasted objective matches Wave 3 Fibonacci extension levels, explaining the huge price gain. The 70.2% Fibonacci price level at $0.6649 is XRP's main short-term barrier. If this barrier breaches, wave 3 may occur. Initial extension targets include the 161.8% Fibonacci level at $1.88. The 261.8% Fibonacci level at $5.85 may be the last objective.

On the monthly chart, Heikin Ashi candles average $0.57, the analyst notes. Dark Defender says that Heikin Ashi Candles (average-price candles, now $0.57) keep the monthly average price above the support level, which is crucial for XRP to maintain momentum.

Not much occurred following the appeal judgment, as predicted. XRP rallied from the Ichimoku clouds top at $0.60+ to $0.50+. Why am I bullish? XRP does not follow SEC news, as I constantly say. They have a tiny influence, but that's it, says Dark Defender.

Dark Defender is “super bullish” on XRP based on the breakout above the long-term downtrend line, the symmetrical triangle, the Heikin Ashi monthly average price, bullish MACD indications, and the Elliott Wave count. The expert expects the asset will surpass $5.85 based on past trends.

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