XRP Price Bounces off From Crucial Support, Analyst Predicts Upside to $5.85
Ripple’s native cryptocurrency XRP XRP $1.92 24h volatility: 1.2% Market cap: $116.17 B Vol. 24h: $4.06 B has lost the crucial support at $2.0 amid the broader crypto market correction, while extending its monthly losses to 14%.
However, the XRP price has bounced back from the next support at $1.88, last seen on November 22. Popular analyst Dark Defender stated that this is a critical area for the Ripple cryptocurrency, and a bounce could lead to an upside at $5.85.
XRP Eyes $5.85 as Elliott Wave Setup Signals 200% Rally
Crypto analyst Dark Defender, who previously anticipated XRP’s decline to the $1.88 level, has outlined a new bullish price target of $5.85. The analyst uses the popular Elliot Wave structure to defend his analysis.
The analyst noted that the XRP price has completed Wave 4 of its broader Elliott Wave cycle and is positioned to enter Wave 5. As per Dark Defender, this could potentially drive a rally of 200% from the current levels.
Dark Defender said he has been tracking XRP’s Wave 4 correction since February 13, 2025. In his analysis, Wave A completed near $1.60 in April, followed by Wave B topping around $3.66 in July.
The final corrective leg, Wave C, reached $1.88, which he now considers the confirmed bottom of the monthly Wave 4 structure.
The analyst highlighted a key support zone between $2.22 and $1.88, noting that XRP briefly traded within this range before bouncing higher.
Using Elliott Wave theory and Fibonacci retracement levels, Dark Defender said the Wave 4 pullback closely aligned with the 70.2% Fibonacci level.
Ripple Cryptocurrency Dominates Market Trend
Ripple’s native cryptocurrency, XRP, has been leading broader market momentum. During last week’s crypto inflows, XRP ranked second only to Bitcoin BTC $87 247 24h volatility: 0.8% Market cap: $1.74 T Vol. 24h: $57.74 B , recording $245 million in net inflows.
On the other hand, inflows into spot XRP ETF have finally hit the $1 billion milestone, with Canary Capital leading at $376 million, as per data from SoSoValue.
U.S. spot XRP ETFs have recorded 30 consecutive days of net inflows since their launch, even as Bitcoin and Ethereum ETFs continue to face persistent outflows.
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