XRP Just Broke Through an Important Level: Analyst Says Next Stop Could Be $6.39

XRP has officially surpassed a significant resistance level, rekindling optimistic sentiment across the crypto market. The price has exceeded the $2.2222 mark, reaching a high of $2.3620 before undergoing a minor correction down to around $2.07. According to market analyst Dark Defender, this move marks the confirmed end of Wave 4 in the ongoing Elliott Wave cycle. He stated that the price pullback was anticipated, adding confirmation for the upcoming increase. A new wave, known as Wave 5, is currently developing, and the results indicate a significant increase compared to this already high level. According to the monthly timeline, XRP is transitioning to Wave 5, featuring a unique five-wave sub-pattern. These movements are often associated with short-term price fluctuations within the context of a rising price. According to the current forecast, XRP could reach a price range of $5.85 to $6.39 as Wave 5 forms. RSI Momentum and Fibonacci Levels Reinforce Bullish Outlook The analysis includes Fibonacci extension levels highlighting the level of $5.8563. This level corresponds to the 261.8 percent extension and serves as a significant technical marker for the potential peak of the fifth wave. The chart shows that this range is where XRP could peak if the current pattern holds.

Dark Defender also identifies that the Relative Strength Index (RSI) indicates a bullish crossover. Currently, it is above the moving average after moving into the mid-range RSI area. This momentum shift implies additional buying momentum and supports the likelihood of a higher bullish phase. He emphasized that although price fluctuations are expected as the trend continues, the overall trend is positive. The chart arrangement, breakout points, and RSI indicators suggest a downward movement. If the price of XRP aligns with the current pattern, it may enter the upper resistance zone or test it. At the time of reporting, XRP was trading at nearly $2.36 and remains in line with the projected Wave 5 pattern. The confirmed breakout above $2.2222 has strengthened XRP's technical outlook. Analysts now believe that the next major price target could be in the range of $5.85 to $6.39.