XRP Price Analysis: Analyst Spots Bullish Indicator on the Three-Month Chart

Crypto analyst Dark Defender has shared a technical analysis of XRP, putting forward a bullish outlook on the three-month time frame.

In a tweet, the analyst pointed out that the current January-February-March candle is set to close by the end of March and emphasized that a zoomed-out perspective reveals strong upward momentum for XRP.

Projected Price Targets Based on Elliott Wave Theory

According to Dark Defender, while short-term price fluctuations occur, higher time frames take precedence over smaller ones.

The analyst outlined a potential Elliott Wave structure, suggesting that XRP is amid a third wave, targeting a price range between $5.85 and $8.076.

A fifth wave is projected to push XRP’s price between $18.22 and $23.20. Dark Defender made it clear that this analysis is not financial advice.

Key Resistance Breakout and Fibonacci Extensions

The accompanying chart illustrates the breakout of a long-term resistance trendline, suggesting that XRP has surpassed a key level that previously hindered its price growth. The chart also aligns with Fibonacci extension levels, which are commonly used in technical analysis to predict price targets based on past movements.

A 161.8% Fibonacci extension aligns with a price level of approximately $1.88, while the 261.8% extension coincides with the $5.85 target, and the 361.8% extension points toward the $18.22-$23.20 range.

Higher Time Frames Indicating Long-Term Strength

Dark Defender’s analysis reinforces the significance of higher time frames in determining market trends. While lower time frames may exhibit volatility, the broader trend can provide a clearer picture of potential price movements. The tweet suggests that the coming months could be pivotal for XRP’s long-term trajectory, especially if it follows the projected Elliott Wave pattern.

Awaiting the Three-Month Candle Closure on March 31

The analyst concluded the tweet by stating, “Well, time will tell!”—acknowledging the uncertainty inherent in market predictions. The closing of the current three-month candle on March 31 will be a key moment for traders monitoring XRP’s price action.

Whether the asset continues its upward momentum or faces resistance remains to be seen, but Dark Defender’s analysis suggests a strong bullish case based on technical indicators.

---

Follow us on X, Facebook, Telegram, and  Google News