Dark Defender Says “I Am Adding More XRP to My Bag”. Here’s why
As XRP continues to trade under pressure, crypto analyst Dark Defender believes the asset may be approaching a key turning point.
In a new tweet, the analyst presented a chart indicating that XRP’s current decline could be nearing the completion of a broader Wave 5 pattern, with price finding support around $1.05.
Dark Defender stated that “XRP Wave 5 is bottoming near $1.05, and they want EVERYONE out so badly,” explaining that current market conditions appear designed to shake out participants before a potential reversal. He added that he is increasing his XRP holdings based on the chart, while emphasizing that the post was educational and not financial advice.
RSI Double Dip Draws Attention
The chart attached to the post focuses heavily on the Relative Strength Index (RSI), a commonly used momentum indicator. Dark Defender highlighted what he described as an “RSI Double Dip,” with the indicator forming repeated lows while XRP revisits major support levels.
According to the chart, a similar RSI setup appeared earlier in the year when XRP completed a previous corrective phase. Dark Defender marked both instances with green circles, drawing a comparison between the earlier low and the current market structure.
He further noted that the RSI may be progressing from a double dip into a triple-dip formation while simultaneously showing bullish divergence. Bullish divergence occurs when price records lower lows while momentum indicators fail to make corresponding lows, often suggesting that selling pressure is weakening.
The analyst’s chart places the current Wave 5 bottom around $1.05, with XRP recently trading near that level. Several Fibonacci retracement levels are also displayed, indicating potential resistance zones should a recovery begin.
Elliott Wave Structure Remains Central to the Outlook
A major component of Dark Defender’s analysis is Elliott Wave Theory. His chart labels a five-wave sequence, with the current decline identified as the final fifth wave of the pattern.
The analyst suggests that once Wave 5 completes, XRP could be positioned for a larger upward move. The chart projects higher price targets above current levels, although the post itself focuses primarily on identifying a bottom rather than specifying a timeline for a recovery.
Dark Defender’s latest update follows a series of analyses in which he has maintained a constructive long-term outlook on XRP despite recent volatility across the broader cryptocurrency market.
Community Members Offer Different Views
The post generated a range of responses from market participants.
One user, Golden Glitter, expressed hope for a deeper correction, writing that they would like to see XRP fall to $0.50 to provide another buying opportunity.
Others disagreed with the implication that XRP holders were being pushed out of positions. Kyle responded that Ripple was not trying to force investors out, stating that the company benefits from continued participation in the ecosystem.
Another commenter, Dan, said that broader market conditions are driving XRP’s price action rather than XRP-specific factors. He pointed to the possibility of future regulatory clarity and suggested that major legislative developments could play a more significant role in determining market direction than traditional chart analysis. Dan added that increased institutional and governmental involvement has changed the nature of the crypto market and could influence how technical patterns perform going forward.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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The post Dark Defender Says “I Am Adding More XRP to My Bag”. Here’s why appeared first on Times Tabloid.
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