XRP is trading near $1.16. Bears are growing louder, but crypto analyst Dark Defender is not concerned.
The analyst posted a response to current market sentiment on X, arguing that XRP’s price structure remains fully intact despite the recent sell-off. “Nothing has changed in the structure,” he wrote.
Support Levels Were Marked Weeks Ago
Dark Defender identified the current support levels before the drop occurred. On October 25, he published a chart analysis marking $1.21 and $1.12 as Wave 2 support targets. His post this week referenced that analysis. “We marked the Wave 2 supports at $1.21 & $1.12 on this chart on Oct 25, long before today’s candle,” he stated.
XRP tested those levels following a sharp market sell-off that came after the 2026 midterm elections. Democrats swept both chambers of Congress, sending U.S. equities lower and pulling crypto markets down with them.
The Nasdaq fell over 5% on November 6. XRP dropped below $1.21. Despite that move, Dark Defender maintains the decline has not altered the trajectory he outlined weeks ago.
Nothing has changed in the structure.
$1.12 was the ceiling #XRP fought all of July & August.
Old resistance has one job now: hold as support.Price is still above it.
We marked the Wave 2 supports at $1.21 & $1.12 on this chart on Oct 25, long before today's candle.
— Dark Defender (@DefendDark) November 6, 2026
The Role of Old Resistance
The analyst drew attention to the $1.12 level specifically. That price held as a resistance ceiling throughout July and August. After the breakout in late August, its role shifted. Dark Defender noted: “Old resistance has one job now: hold as support. Price is still above it.”
This observation sits at the core of his current analysis. As long as XRP holds above $1.12, he considers the structure valid.
Wave 3 is the Target
The chart from October provides the full context for his conviction. Using Elliott Wave analysis on a 3-day chart, Dark Defender mapped a large Wave 1 that formed in November 2024. He then identified a corrective Wave 2 playing out through 2025 and into 2026. His chart shows the current price sitting at the bottom of that Wave 2.
His Wave 3 target is $10.1101. The chart labels this level at a 427.20% Fibonacci extension from the wave’s base. Intermediate targets on the chart include $1.5692, $1.8815, $2.9032, $4.1043, and $7.0786 before that final level.
The sub-wave structure visible on the chart shows White Sub-Waves 1 and 2 aligning with October 2024 price action, reinforcing his confidence in the pattern.
Dismissing the Current Noise
Dark Defender is direct about the sentiment surrounding XRP right now. “I don’t listen to the FUD because XRP Wave 3 is loading,” he wrote. He added: “Bears get loud at the bottom of Wave 2. Every time.” His position is clear. The structure holds, and the target remains unchanged.
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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