Crypto analyst Dark Defender has sparked fresh debate, stating that XRP has completed its weekly correction and is now entering the fifth Elliott wave. Importantly, this move is unfolding independently of the U.S. CLARITY Act—a proposed bill aiming to clarify digital asset regulation—meaning price action, not pending policy, is driving the narrative.
Fifth Wave Launch: Double-Digit Prices in Sight
Applying Elliott Wave theory, Dark Defender identifies the current phase as the fifth wave—often the most explosive leg in a cycle. He sees $10 as a psychological threshold, not the final peak. At the time of the report, XRP was trading at $1.12. A rally to $10 would represent roughly 800% upside from that level. If the wave count is accurate, XRP could be entering the most dynamic growth phase of its current market cycle.
Symmetrical Triangle: $2 as the Near-Term Target
On the chart, XRP is consolidating within a symmetrical triangle pattern. Technically, such formations often precede sharp breakouts. Assuming buyers regain momentum, $2 stands as the first major upside target. Dark Defender notes that XRP’s long-term technical structure remains robust, suggesting further gains are possible even without regulatory catalysts.
However, reaching the ambitious $10 target requires sustained buying appetite, supportive market sentiment, favorable liquidity conditions, and the absence of adverse regulatory surprises. Positive technicals alone do not guarantee a smooth path—the ultimate trajectory will depend on broader market dynamics.
Price Action vs. Regulatory Hopes
Many investors still view regulatory clarity as a powerful XRP catalyst, but Dark Defender believes a portion of that expectation has already been priced in. The fifth wave’s initiation—without waiting for the CLARITY Act—suggests technical forces are currently leading the price discovery process. His assessment has already become one of the notable commentaries fueling the renewed bullish narrative around XRP. If his wave count holds, the ongoing consolidation may be merely the calm before a major breakout.