Dark Defender Sees XRP Reaching $7.07 on Bullish Elliott Wave Case

Crypto analyst Dark Defender has outlined a bullish Elliott Wave case for XRP on the 10-day chart, targeting two significant upside levels. According to Dark Defender, XRP completed its Wave 4 correction and entered Wave 5, with support confirmed at the $1.3798 level, which is the 61.80% Fibonacci extension.

The asset has been building structure on higher time charts for months and has now broken down from a falling wedge pattern formed by the orange and yellow trendlines. The RSI on the 10-day chart shifted during this period, with a bullish cross between the main line and its signal line, labeled as 'The RSI Break' directly on Dark Defender's chart.

For XRP to gain momentum, it must clear resistance near current price levels and sustain above $2.22, which would cause the Ichimoku cloud to transition from resistance to support. If successful, Wave 5 could reach two key targets: the 261.80% Fibonacci extension at $4.1043 and the 361.80% extension at $7.0786.