XRP Chart Suggests Imminent Upward Move Amid Bullish Outlook
Crypto analyst Dark Defender has released a new long-term chart for XRP on social media platform X, showcasing a bullish outlook despite recent market weakness. The chart presents an Elliott Wave interpretation that suggests XRP's price structure continues to support a larger five-wave advance.
The analysis highlights a multi-year technical formation from XRP's previous market cycles through its latest price action. Dark Defender identified what appears to be a completed corrective phase before projecting a new impulsive move that could unfold over the coming years.
According to the chart, XRP has already formed waves one and two of the larger cycle and is currently positioned near an important support region around $1. This area marked as critical by Dark Defender could serve as the foundation for the next upward move.