Crypto analyst Dark Defender has provided an update on his XRP price wave structure. He revealed that the altcoin is now in wave 4 and highlighted the targets and support levels that market participants should watch out for at the altcoin’s current price level.
Wave 4 For The XRP Price In Progress
In an X post, Dark Defender stated that wave 4 is in progress for the XRP price. He added that the Relative Strength Index (RSI) also reflects the 4th wave consolidation. The analyst had also stated that the altcoin has completed Waves 1, 2, and 3. His accompanying chart showed that the altcoin could again retest the $3 support level as part of a corrective move to the downside.
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A successful hold above this support level, $3.07 specifically, is expected to trigger the next impulsive move to the upside for the XRP price. Dark Defender predicts that the altcoin could rally to as high as $5.8563 on this Wave 5 impulsive move. He added that the targets are $3.61, the current all-time high (ATH), and then $5.85, which would mark a new ATH for XRP.
Crypto analyst Javon Marks had also recently predicted that the XRP price could soon rally to a new ATH. He noted that the altcoin is holding well, far above the $2.47 support level, meaning that the next target is $4.804. The analyst added that a break above this $4.804 level could spark another rally to $7.138.
A rally to $7.138 will represent a surge of 128.78% from the current XRP price level. It is worth noting that the altcoin is already up over 35% year-to-date (YTD), rising to the third largest crypto by market cap in the process.
All Eyes On XRP’s Monthly Close
In an X post, crypto analyst Egrag Crypto remarked that the focus is on the XRP price staying above $3.03 for the monthly close. He noted that a close above this level would mark the first-ever historical candle close above this level in XRP’s journey. As such, he declared that market participants could soon witness history in the making.
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If the XRP price achieves the monthly close above $3.03, Egrag Crypto stated that a rally to the Chasm at $8.9 is the minimum target for the altcoin in this market cycle. He also suggested that XRP could surpass this target and declared that this is where the “real fun” starts. His accompanying chart showed that a rally to as high as $32 was also on the cards.
At the time of writing, the XRP price is trading at around $3.14, up in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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