According to crypto strategist Dark Defender, Ripple’s price action on the weekly time frame suggests its uptrend remains intact despite recent consolidation.
In a recent Twitter thread, Defender noted Ripple is oscillating between key Fibonacci levels at $0.46 and $0.52. This signals the primary resistance is still holding, keeping the bullish trend alive.
Defender points to his earlier accurate calls for Wave 1 to top out around $0.89 and $1.88, followed by a Wave 2 retracement toward $0.46 and $0.39, both of which played out.
Now, he expects Wave 3 will see Ripple break out of its current triangle consolidation, targeting $1.33 initially. The next Fibonacci extension levels at $1.88 and $5.85 remain viable for the full Wave 3 climb.
Despite ongoing skepticism toward XRP, the developing chart pattern adheres nicely to Defender’s outlined elliott wave structure. A decisive break above triangle resistance could confirm the next leg up is underway.
If Ripple can successfully break out toward Defender’s $1.33 target, it lends more credence to his loftier Wave 3 objectives at nearly $6. This exemplifies persistent bullish expectations among analysts awaiting upside confirmation.
Defender’s demonstrated accuracy and the ripening chart setup make his projected Ripple recovery compelling. A triangle breakout could quickly invalidate doubters and put Ripple back on course toward reclaiming its all-time highs.
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