XRP has returned to a level that traders have watched closely for months. After opening at $1.33 in June, the cryptocurrency quickly dropped below $1.1, reaching $1.05 on June 6. That marked its lowest price of 2026 and brought XRP back to the territory last seen during the February flash crash.
According to crypto analyst Dark Defender (@DefendDark), that price action has now completed a significant chart pattern. In a recent post, he highlighted a double bottom on XRP’s chart, calling it a great reversal sign.
XRP double bottom is in.
A Great Reversal Sign.
NFA pic.twitter.com/m8TGKZe9gf— Dark Defender (@DefendDark) June 7, 2026
Chart Shows Support Holding
Dark Defender’s chart places both lows around the same support zone near the 23.60% Fibonacci level at $1.2105. While XRP briefly traded below that area during both selloffs, buyers stepped in and prevented a sustained breakdown.
The chart also shows a similar pattern in the Relative Strength Index (RSI). The February low coincided with an oversold RSI reading. The latest decline pushed RSI back into the same region, creating a second trough. The analyst highlighted both points, suggesting a potential bullish divergence between momentum and price.
This combination strengthens the double-bottom thesis. Traders often look for matching prices alongside improving momentum indicators when assessing potential trend reversals.
XRP: Key Levels to Watch Next
The chart outlines several upside targets if XRP continues to recover from the June low. The first major level sits at $1.2105, which corresponds to the 23.60% Fibonacci level. XRP has already begun reclaiming ground toward that area, and currently trades at $1.15.
Above that, the next significant resistance appears near $1.4746, marked as the 85.40% Fibonacci level. XRP traded around that region several times between April and May, making it an important zone for bulls to clear.
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Beyond those levels, the chart identifies $1.8818 as the 161.80% Fibonacci target. Higher targets include $3.5632 at the 361.80% extension and $5.8563 at the 261.80% extension, which would mark a new all-time high for XRP.
Is a Reversal Coming?
Dark Defender labels the current move as part of a larger Elliott Wave count. The chart suggests XRP may have completed wave four and started wave five, with the projected path pointing toward substantially higher levels over the coming months.
The latest decline brought XRP back to one of its most important support zones of the year. Rather than creating a new downward trend, the move produced a second low near the February bottom and is building the foundation for a reversal.
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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