Analyst Says XRP Is Preparing to Appreciate More Against Ethereum (ETH)

Prominent crypto analyst Dark Defender has shared a new market outlook on XRP’s performance against Ethereum. He emphasized the expected continuation of an Elliott Wave pattern unfolding since 2023. The post suggests that XRP may be on the verge of reaching Wave 3 in this cycle, signaling further gains.

In the tweet, Dark Defender stated: “Hi all, #XRP is preparing to appreciate more against ETH. We have followed our Wave pattern since 2023 and are expected to hit Wave 3. We will be discussing XRP Dominance this year.”

The accompanying charts illustrate a five-wave Elliott Wave structure initially projected in December 2022. The earlier chart shows a period of consolidation and the formation of a resistance line that persisted for four years. The latest update highlights that XRP has already broken past this resistance and is progressing toward its next target levels.

The anticipated Wave 3 is positioned at a Fibonacci extension level, suggesting a strong upward movement. According to data from CoinMarketCap, XRP is currently trading at $2.35, witnessing a 4.83% price increase in the last 24 hours.

Market Sentiment and XRP’s Potential Dominance

An X user, NPcoin, commented on the analysis, stating confidence in XRP’s future dominance. They mentioned that as Bitcoin weakens, XRP could gain more institutional and retail recognition due to increasing adoption.

Dark Defender’s chart analysis reflects a growing sentiment among some traders that XRP could see significant gains relative to Ethereum. The structure suggests that, after Wave 3, a corrective Wave 4 could occur before a final Wave 5 push. These projections align with historical market cycles and technical patterns used by Elliott Wave theorists.

XRP’s Position in the Broader Market

The post also hinted at a broader discussion on XRP’s dominance in the market. XRP’s market positioning has long been debated, particularly regarding its role in institutional finance and potential use in global payment systems. As regulatory clarity around XRP improves, traders speculate on its long-term standing relative to other major cryptocurrencies.

As noted in the charts, Dark Defender’s analysis does not constitute financial advice. However, it highlights the ongoing technical and market sentiment shifts that could influence XRP’s trajectory against Ethereum.

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 urged to do in-depth 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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