Dark Defender Sees XRP's Decline as Part of a Bigger Wave
Crypto analyst Dark Defender has been following XRP's developments closely and is optimistic about its long-term prospects. Despite the asset falling by 25% from its August high, he points to several encouraging signs in the ecosystem.
One of these signs is the decline in exchange reserves, which have reached a seven-year low with around 1.7 billion XRP held on exchanges. Dark Defender also highlighted RLUSD's activity on the XRP Ledger, noting that the network holds 88% of all RLUSD liquidity.
In addition to these developments, he referenced the XRP Ledger's roadmap for quantum-safe cryptography, which is targeted for implementation in 2028. According to him, this technology will provide a key safety measure and enhance the network's infrastructure.
The analyst also discussed the current market structure of XRP, describing it as Wave 2 within his broader Elliott Wave analysis. He emphasized patience, stating that Wave 3 'does not ask for permission.'