XRP Navigates Critical Technical Zone, Analyst Says Bullish Structure Intact
XRP is currently trading within a crucial technical zone, according to a new two-week chart analysis, which suggests that the broader Elliott Wave structure remains unbroken. The analysis, shared by crypto analyst Dark Defender, indicates that XRP is nearing the apex of a narrowing resistance and support pattern. The next significant price movement will determine whether the cryptocurrency remains constrained by short-term resistance or initiates a more substantial upward rally towards defined resistance levels.
Elliott Wave Count Still Bullish
Dark Defender’s analysis is based on the premise that XRP’s primary Elliott Wave structure is still valid on the two-week candlestick timeframe. The chart illustrates XRP progressing through a larger five-wave sequence, with current price action occurring near the conclusion of Wave 4.
According to Elliott Wave theory, Wave 4 is the second corrective phase within a five-wave impulse, preceding the final Wave 5 expansion, provided the entire impulse structure is not invalidated by a breakdown. As depicted in the chart, XRP is being squeezed between a descending orange resistance line and a rising blue support line. The XRP price touched the blue support line in March and has since generated several bullish two-week candlesticks. The current candlestick has again touched the descending orange resistance line, indicating that XRP’s consolidation phase is nearing its end.
The analyst highlighted support between $1.36 and $1.31. This range is significant because XRP is currently trading around $1.36, meaning the price action is testing the lower boundary of the setup in real-time. A sustained hold above this zone would preserve the bullish wave count, while a breach of this area would invalidate the possibility that the current structure is still preparing for a Wave 5 move.
Fibonacci Price Levels and $8 Target
The most critical short-term battle is around the orange resistance line. Dark Defender anticipates XRP breaking this resistance and experiencing a strong rally through the end of May. Since the rejection at $3.65 in July 2025, XRP has formed lower highs under that descending trendline, which is now around $1.47.
The projected path on the chart shows XRP breaking above $1.47 and then extending into the higher Fibonacci extensions. The first notable extension is the 161.80% extension at $1.8818. The 361.80% extension, a Fibonacci level associated with extended Wave 3 and Wave 5 completions in strong impulsive structures, maps to $3.5632. However, it is the 644.40% extension that anchors the full bullish prediction of $8.7822, which is labeled as the Wave 5 target.
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