XRP Analyst Projects Start of Monthly Wave 5 Toward $5.85 Target

Crypto analyst Dark Defender has confirmed that XRP’s Monthly Wave 4, which began in February, has now played out as expected and that Monthly Wave 5 may be underway. The chart and commentary provided via X (formerly Twitter) outline an Elliott Wave structure and suggest a bullish continuation, with a potential upside target near $5.85—a 261.8% Fibonacci extension level. Subwave 4 Hit $2.36, Followed by Bounce to $2.07 According to Dark Defender, Monthly Wave 4 was divided into five subwaves, following a classic corrective structure. Subwave 4 bottomed at $2.36, a key level that acted as the confirmation zone. From there, Subwave 5 began, pushing XRP as low as $2.07 before stabilizing. “Wave 5 is halfway completed. The remaining part is still to be confirmed,” said Dark Defender. This progression suggests XRP has already made the first moves of a larger impulse wave, with Wave 5 now set to continue toward new highs. Wave 5 Confirmation Awaits Dark Defender’s analysis emphasizes that while the setup for Wave 5 is clear, confirmation is still needed. Once validated, XRP could accelerate rapidly, with the next major resistance seen around $3.50, and a full projection toward the $5.85 zone if Wave 5 fully plays out. “Nothing can stop this. Nothing,” the analyst declared, signaling strong conviction in the chart setup. Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets. Related stories Next article !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','1188189499475368');fbq('track','PageView'); Source: https://coindoo.com/xrp-analyst-projects-start-of-monthly-wave-5-toward-5-85-target/