Top Crypto Trader Predicts XRP Rally to $5.85 According to Elliott Wave Theory – Here’s His Timeline

The XRP price has seen significant volatility in recent years, correcting sharply from highs above $1.90 to lows around $0.40. However, according to prominent crypto analyst Dark Defender, this correction may be over and XRP is gearing up for further gains.

In a recent Twitter thread, Dark Defender noted that XRP appears to have completed a 5-wave Elliott Wave correction after topping out at $1.966. The analyst sees the bounce from $0.39 as the start of a new impulsive Wave 3, with upside targets at $1.88 and $5.85 based on Fibonacci extensions.

The technical indicators currently reflect building bullish momentum, albeit with some caveats. The MACD histogram bars are declining but remain in positive territory, suggesting momentum is slowing but has not turned negative yet. Additionally, the MACD line remains above the signal line in bullish alignment.

The RSI is hovering around 50, reflecting the recent cooldown from overbought territory without yet entering oversold. This puts the RSI in neutral territory but with room to climb on renewed upside.

In terms of support and resistance, XRP has initial support around $0.45 and faces resistance at $0.55 (the previous support level), $0.68 and $0.92.

Overall, the constructive technical setup combined with the bullish outlook from Dark Defender suggests advantage to the upside for XRP in the near-term. A move above $0.55 would confirm the analyst’s view and open the door for a retest of $1.90. However, extended consolidation or a dip to support around $0.45 remain possibilities. Traders should watch for a breakout above resistance or breakdown below support to signal the next major move.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.