XRP To Hit $8 In The ‘Upcoming Days,’ Predicts Crypto Analyst
Crypto analyst Dark Defender (@DefendDark) has released an updated technical chart that indicates XRP could be on track to reach the long-anticipated $8 price level in the “upcoming days.” The chart, shared on X yesterday, depicts an Elliott Wave structure complete with clearly defined support and resistance levels, along with a noteworthy correction currently taking place below the $3 price zone. The analyst first teased the chart on X: I will explain how XRP is expected to target $8 in the upcoming days with key levels and my enter and exit strategies […] I will share it on X […].” He later shared the chart and explained: “XRP continues the daily correction and consolidates under the $3 level, which will be the breakeven point for continuing with our targets. Wave 3 indicates $5.85 is at sight and closer than ever before. This structure aims at $8+ levels with its 5th Wave shortly.” XRP price analysis, 1-day chart | Source: X @DefendDarkThe XRP Price Analysis Broken Down According to Dark Defender’s latest daily chart, XRP has been trading within a descending channel (identified by two white trend lines), from which it previously broke out. The analyst denotes five impending waves (labeled (1) through (5)) in an Elliott Wave formation. Wave (1) peaks near $3.3999, while the subsequent correction, labeled (2), dips back inside the Ichimoku Cloud region on the chart. At the chart, XRP hovers around $2.56, and the analyst emphasizes the $3 critical level as the necessary “breakeven point” for resuming bullish momentum toward higher targets. The XRP price needs to break through the top white trendline on the chart to build momentum in Wave (3). The chart also features a highlighted 261.8% Fibonacci extension line around $5.8563, signaling a projected Wave (3) objective. After a presumed Wave (4) pullback below $4.50, Wave (5) targets $8+ — a zone that Dark Defender believes XRP could reach “shortly.” In the comment section beneath the post, one user, @pommapomatum, questioned whether XRP’s second wave legitimately dipped below the start of Wave (1), a move typically inconsistent with classical Elliott Wave theory. Dark Defender responded by citing a historical precedent from December 6, 2017. “You are right. However, when we check XRP history, we see similar wicks down to clear the way for the next move. We had this type of extraordinary move on December 6, 2017. XRP went from 30 cents to 0.002 cents and then within a month, XRP hit the ATH at $3.82,” Dark Defender stated. @pommapomatum countered that the 2017 wick has been exchange-specific and not indicative of market-wide conditions. Dark Defender acknowledged this concern, noting that not all platforms showed the dramatic wick in 2017 and that the same discrepancy appeared yesterday on certain exchanges. “It was the same case yesterday. Not all the exchanges had the same wick. E.g. Kraken. I think that is an exception and chosen to exclude that wick but candle close,” the analyst remarked. Notably, the Ichimoku Cloud on the chart underscores ongoing consolidation as XRP’s price moves beneath the $3 threshold. Dark Defender describes this support zone as key for bullish continuation, noting that a decisive break above $3 would confirm the next major wave toward $5.85 (Wave (3)) and, ultimately, an $8+ target (Wave (5)) if the pattern follows through as envisaged. At press time, XRP traded at $2.50. XRP price faces downward pressure, 4-hour chart | Source: XRPUSDT on Tradingview.comFeatured image created with DALL.E, chart from TradingView.com Jake Simmons Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. 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