XRP Analyst Projects Start of Monthly Wave 5 Toward $5.85 Target
By: coindoo|2025/05/08 17:45:02
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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 $2.07According 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 AwaitsDark 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.The post XRP Analyst Projects Start of Monthly Wave 5 Toward $5.85 Target appeared first on Coindoo.
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