Dark Defender (@DefendDark), a well-known crypto analyst on X, has provided insights into XRP’s price movement, highlighting a potential breakout on the 4-hour and 1-day time frames. The analysis suggests a short-term price target of $4, while $3.07 is a critical support.
XRP Current Market Analysis
According to the chart shared by Dark Defender, XRP appears to be nearing a pivotal phase. The Elliott Wave structure highlighted in the chart indicates that XRP is in Sub-Wave 4, with the expectation of Sub-Wave 5 initiating a breakout.
Dark Defender stated, “XRP is pending confirmation on 4-hour and 1-day time frames for the breakout.” This confirmation would be crucial when determining whether XRP achieves the anticipated upward trajectory.
The chart also emphasizes the importance of the $3.07 support level, as it serves as a foundation for the next potential rally. Should XRP fail to hold above this level, it could invalidate the bullish scenario, leading to further downside risks. At press time, XRP traded at $3.1.
Hi all. #XRP is pending confirmation on 4-hour and 1-day time frames for the breakout.
The short-term target is $4 with Sub-Wave 5, and the Support is $3.07.
Have a great day!
(Not Financial Advice) pic.twitter.com/PALVKzAQQi— Dark Defender (@DefendDark) January 30, 2025
XRP Short-Term Price Target
The analysis projects a short-term target of $4, supported by the Elliott Wave theory and technical indicators. If XRP successfully confirms a breakout, reaching $4 would signify a new all-time high—a notable achievement for the asset.
The projected price aligns with broader market sentiment, as XRP remains one of the leading cryptocurrencies benefiting from increasing institutional interest and adoption.
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The Potential Effect of the Ripple Lawsuit
One community member asked an important question about XRP’s trajectory if the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) ends. The crypto world has been anticipating the potential end of the lawsuit as many believe it could be a major catalyst for growth.
However, Dark Defender stated that “XRP doesn’t care about the lawsuit.” He noted that XRP has been following this pattern since 2021 and expects the asset to complete this pattern independent of the lawsuit’s outcome.
While legal experts have already begun speculating on potential timelines for the end of the lawsuit, Dark Defender argues, “Don’t think about the lawsuit.”
Dark Defender’s analysis provides valuable insights into XRP’s short-term price potential. The asset is currently above the crucial resistance of $3.07, and once it completes the pattern, it will finally breach its 7-year-old all-time high.
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 urged to do in-depth 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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