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Dark Defender (Defenddark) Absolute The updated artistic chart can indicate that XRP is on the right path to reach the long -awaited price level of $ 8 in the “coming days”. The graph, which was shared on X yesterday, depicts the complete Elliott wave structure with the levels of support and resistance clearly defined, as well as a note correction currently happening less than the price area of $ 3.
The analyst first disturbed the graph on X: I will explain how XRP is expected to target $ 8 in the coming days with keys and entry and exit strategies […] I will share it on x […]He later participated in the scheme and explained: “XRP continues the daily correction and is enhanced by the level of $ 3, which will be a tie point to continue our goals. The wave indicates $ 3 to $ 5.85 on the horizon and closer to ever. This structure aims to $ 8+ with its fifth wave soon. “
XRP price decrease
According to the latest daily plan for defender Dark, XRP is traded within a convergence channel (identified by two lines of the white direction), from which it erupted previously. The analyst indicates five imminent waves (name (1) to (5)) in the formation of Elliot wave. The wave (1) is compatible near $ 3,3999, while the subsequent correction, named (2), decreases inside the Ichimoku cloud area on the graph.
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In the graph, XRP hovers about $ 2.56, and the critical level analyst confirms $ 3 as the “tie point” needed to resume momentum ascending towards higher goals. The price of XRP needs to penetrate the upper white trend line on the graph to build momentum in the wave (3).
The graph also features a distinctive Fibonacci extension line by 261.8 % about $ 5.8563, indicating an expected wave (3). After a supposed wave (4) is less than $ 4.50, the wave targets ($ 5) – an area that the dark cannons believe that XRP can reach “soon”.
In the review section below the post, one user, Pommapomatum, asked whether the second wave of XRP is legally covered under the beginning of the wave (1), a step that is not compatible with the classic Elliott wave theory. Dark Defender replied by reference to a historic precedent from December 6, 2017.
“You are right. However, when we check the history of XRP, we see a similar fuse to wipe the way to the next movement. We had this type of unusual steps on December 6, 2017. XRP went from 30 cents to 0.002 cents, then within a month, XRP reached ATH at $ 3.82. “
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Pommomatum replied that the 2017 wick was about exchange and not an indication of the conditions at the market level. Dark Defender acknowledged this anxiety, noting that all the platforms did not show the dramatic fuse in 2017 and that the same contradiction yesterday afternoon on some exchanges.
It was the same situation yesterday. Not all exchanges have the same wick. For example, sheep. I think this is an exception and chose to exclude that wild but a closed candle. “
It is worth noting that the Ichimoku cloud on the graph confirms continuous unification as the price of XRP moves below the threshold of $ 3. Dark Defender describes this support area as a key to the upscale continuity, noting that a decisive break more than $ 3 will follow through as expected.
At the time of the press, XRP was traded at $ 2.50.
Distinctive image created with Dall.e, Chart from TradingView.com
