XRP is trading near $1.17 after a brutal correction, but analyst Dark Defender believes the bigger picture still points in the opposite direction.
His latest weekly chart argues that XRP’s run from roughly $0.30 to the $3.66 high was only the first major stage of what he calls Grand Wave 3.
If that Elliott Wave count is correct, the current weakness would be part of a corrective phase before a much larger expansion higher.
Dark Defender describes the next stage as potentially the “biggest wave of a lifetime.”
What you'll learn 👉
The $3.66 XRP Rally Was Only the Beginning
The most important part of his chart is how he labels XRP’s previous advance.
Instead of treating the $3.66 high as the completion of the larger bull cycle, he marks it as Wave 1 inside a much bigger five-wave structure.
The current decline toward the $1 area is then shown as Wave 2.
That makes the next projected move Wave 3, which Elliott Wave traders generally expect to be the strongest part of an impulsive sequence.
His chart starts that larger bullish roadmap around the current $1.13 region.
$3.66 arrived from the 30-cent levels, and that run was only the first step of the Grand Wave 3. We set #XRP targets five years ago and flew high where eagles dare. Now we are standing in front of the biggest wave of a lifetime. It has already started, but only some can see it. Today I dissected it on the Weekly, part by part, from $1.13 to $333 and $1,000. I have no fear. Let that sink in. Dark Educational purposes only. Not financial advice.
— Dark Defender (@DefendDark) November 7, 2026
That area also lines up closely with a 50% Fibonacci level near $1.1388, making the low-$1 zone particularly important for his count.
Dark Defender Maps Several Extreme XRP Targets
This is where the chart becomes much more aggressive.
Dark Defender shows a first major Fibonacci extension around $2.90, followed by much larger long-term levels near:
$18.23
$30.30
$74.40
$117.10
$333.12
And eventually, the most extreme extension on the chart reaches roughly $1,043.
These should not be interpreted as near-term targets.
The chart stretches several years into the future and uses large-degree Elliott Wave projections combined with Fibonacci extensions.
The more relevant question today is much simpler: can XRP establish a durable bottom around the current support region?
Why $1.13 Matters Before Any Huge XRP Rally
XRP is already trading close to one of the most important levels on Dark Defender’s chart.
The 50% retracement sits around $1.14, almost exactly where the market is currently trading.
That makes the present zone an important test.
If XRP stabilizes around $1.10-$1.15 and begins building higher lows, Dark Defender’s idea of Wave 2 ending becomes easier to defend.
If price continues falling, however, the path toward his projected Wave 3 would likely need to be reassessed.
The chart is extremely bullish over the long term, but the bullish scenario still depends on the current correction eventually finding a floor.
Read also: Why Is the Crypto Market Again Crashing Today? (XRP Is Getting Smashed!)
The Real XRP Story Is the Structure, Not the $1,000 Target
The four-digit target will naturally attract attention, but it is not the most useful part of Dark Defender’s analysis.
The more interesting claim is that XRP’s previous move to $3.66 may have been only the first wave of a much larger cycle.
That interpretation turns the current crash from a potential end of the bull market into a possible large-degree reset.
The next few months should help decide if that idea has merit.
If XRP can defend the low-$1 region and eventually reclaim the previous resistance zone around $1.80-$2.00, the bullish structure becomes much more interesting.
For now, Dark Defender’s chart is making an unusually aggressive claim: the move traders already considered enormous may have been only the opening act.
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