With the market in the current correction phase, XRP is trading at $0.4824. According to Dark Defender (@DefendDark) on X, XRP is trading close to a critical support level of $0.46.
In his post, he highlighted that he called the final support levels on September 2. These were $0.46 and $0.39. According to his analysis, if XRP goes down, the final support level will be $0.39. After that, he expects a surge that could take XRP to $1.88 and $5.85.
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Dark Defender backs this up with a chart showing his prediction played out in three waves.
Hi there. We discussed #XRP stopped @ $0.93 & named as Wave 1, proceeding with Wave 2, corrective.
On the 2nd of Sep, we called the final supports in sight: $0.46 & $0.39.
XRP is now hovering on $0.46 support, if we see below this the final support will be at $0.39.
Then I… pic.twitter.com/pdtFvC8Szt
— Dark Defender (@DefendDark) September 12, 2023
Wave 1
From the chart, he shows that XRP hit $0.9327 and paused at the end of Wave 1. He initially predicted that it would reach $1.33. However, $0.9327 was a resistance point that XRP couldn’t break through. This price surge came after the Ripple-SEC lawsuit summary judgment in July.
Wave 2
After the first wave, XRP entered into a correction phase. It has been falling since its peak of $0.9327. On September 2, Dark Defender pointed out in a post that XRP had tried to stay above $0.52 but failed.
He also listed those support levels and stated that wave 3 would send XRP to $1.88. However, he said If XRP drops below $0.46, $0.39 will be the final support level and will mark the end of wave 2.
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price for September 30, 2023
Wave 3
Wave 3 is expected to bring the rally that the XRP community has been waiting for. Dark Defender has ambitious price targets. However, if his analysis comes true, XRP might exceed his targets of $1.88 and $5.85.
Additional Insights
Prominent crypto analyst Nebraskangooner provided more insight, emphasizing caution around $0.50 as a critical level. He said, venturing below this level is risky. He compared it to catching a falling knife, where timing the exact bottom is challenging.
Nebraskangooner advises against buying XRP below $0.50 without a confirmed breakout, as it carries a high risk. Waiting for an upward movement minimizes potential losses.
XRP is at crucial support levels, with the potential for significant gains if the correction ends as anticipated. However, traders have to be cautious because the market can be unpredictable.
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