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XRP Eyes $5.85 as Analyst Predicts 200% Rally with Elliot Wave
Ripple's XRP recently fell below the crucial $2.0 support amid a market correction, extending monthly losses to 14%. It has since rebounded from $1.88, a critical level identified by analyst Dark Defender, who predicts a potential rise to $5.85.
XRP's Potential Rally
- Dark Defender suggests XRP is poised for a 200% rally based on Elliott Wave analysis.
- XRP has finished Wave 4 and may enter Wave 5, which could trigger significant upward movement.
- The analyst tracks the corrective patterns since February 2025, with Wave A at $1.60, Wave B peaking at $3.66, and Wave C bottoming at $1.88.
- A key support zone is identified between $2.22 and $1.88.
- The Wave 4 pullback aligns with the 70.2% Fibonacci retracement level.
XRP Market Influence
- XRP leads market trends, ranking second in crypto inflows behind Bitcoin, with $245 million in net inflows last week.
- Spot XRP ETFs have reached a $1 billion milestone, led by Canary Capital with $376 million.
- U.S. spot XRP ETFs have seen 30 consecutive days of net inflows, contrasting with outflows in Bitcoin and Ethereum ETFs.