Dark Defender Says XRP Will Be Moving Parabolically Soon. Here’s why

XRP has carried fresh momentum into early July after recovering from its late June lows. The token has pushed back above key support levels during the past several trading sessions, giving technical analysts new areas to monitor as the price attempts to extend its advance.

Crypto analyst Dark Defender revealed in a recent post that XRP has broken its initial daily resistance. He showed that it has entered Wave 5 of his Elliott Wave structure. He expects that phase to drive a major advance, stating, “XRP will be moving parabolically.”

XRP Builds Strength After Recent Recovery

XRP spent much of the past few weeks under pressure. It began this decline in early June and quickly retraced gains from a relief rally in the middle of that month. It found support near $1.04, and buyers then regained control, lifting the token steadily above $1.10. Following that, the latest advance carried it toward the $1.15 area.

The recovery also followed several days of stronger bullish candles after XRP traded near recent lows. That move has shifted attention toward the next resistance levels as traders watch for confirmation that the latest rally can continue.

The Resistance Break and Wave 5 Structure

The attached chart outlines an Elliott Wave count that labels the recent low as the beginning of Wave 5. It also shows XRP breaking above a descending blue trendline that had capped price movements during the previous decline.

An orange trendline from earlier price action intersects with the recent recovery, while Fibonacci extension levels identify possible upside targets. The chart marks 200% at $1.1703, 300% at $1.1892, and 361.80% at $1.2269. XRP currently trades just below the 200% extension, making that area the next level highlighted on the chart.

Reinforcing the Bullish Narrative

Dark Defender also includes an Ichimoku Cloud above the current price. XRP has started moving toward the lower edge of that cloud, which often serves as a resistance zone on the daily chart. A move through that region would place even higher targets into focus.

The RSI also supports the improving technical picture. The RSI has climbed to about 53, while its moving average remains near 38. The indicator has crossed above its signal line and continues to trend higher after recovering from historic oversold conditions.

XRP’s Potential Next Move

Dark Defender’s outlook now centers on whether XRP can build on its latest breakout. His chart suggests that holding above the recent breakout area could support another move toward the Fibonacci extension levels between $1.17 and $1.23.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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