A prominent cryptocurrency analyst has recently expressed an optimistic outlook for XRP, suggesting that the digital asset is on the verge of reaching a new all-time high. Despite facing significant challenges over the past year, including a dramatic decline from its peak of $3.6, there are signs that XRP may be poised for a turnaround. The analyst, known as Dark Defender, has identified three key technical indicators that support this bullish sentiment, indicating that the cryptocurrency’s lengthy corrective phase may be coming to an end.
Dark Defender’s analysis focuses on a detailed Elliott Wave chart that spans from April 2025 to a projected period extending into mid-2026. This chart illustrates the completion of an ABC corrective pattern, where wave A marked the initial high, followed by a substantial sell-off, and wave B represented a recovery rally. The current phase, wave C, is identified as the most significant in this corrective sequence, suggesting that XRP’s price may have recently hit a bottom at approximately $1.31.
According to the analysis, the completion of wave C signifies a critical turning point for XRP, implying that the bearish trend could be behind it. Dark Defender highlights the importance of a “resistance-support triangle” that has formed during this corrective phase. XRP has managed to break above the upper resistance trendline of this triangle, a move that could signal the onset of a new upward trajectory for the asset.
As XRP looks to build momentum, Dark Defender outlines several potential price targets for the next bullish impulse wave. The analyst’s first target is set at $1.66, which represents a 27% increase from current levels. Subsequent targets include $1.88 and $2.58, with an ambitious long-term goal of reaching $5.85. Achieving this all-time high would mark an impressive surge of over 350% from XRP’s current valuation.
As the cryptocurrency market continues to navigate its unpredictable landscape, XRP’s potential resurgence could provide a much-needed boost to investor sentiment. With technical indicators aligning favorably, many will be watching closely to see if XRP can indeed break through its previous resistance levels and embark on a new rally.