XRP trades around $1.16 as bearish voices grow louder, yet crypto analyst Dark Defender remains unfazed.
Taking to X to address prevailing market sentiment, the analyst posted that XRP’s price framework remains completely intact despite the recent sell-off, writing, “Nothing has changed in the structure.”
Support Levels Were Marked Weeks Ago
Dark Defender pinpointed these support levels ahead of the downturn. On October 25, he released a chart analysis designating $1.21 and $1.12 as targets for Wave 2 support, a point he revisited this week. “We marked the Wave 2 supports at $1.21 & $1.12 on this chart on Oct 25, long before today’s candle,” he stated.
These levels were tested by XRP following a sharp market correction that unfolded in the wake of the 2026 midterm elections. Democrats swept both chambers of Congress, dragging down U.S. equities and pulling the broader cryptocurrency market along with them.
Following a greater than 5% plunge in the Nasdaq on November 6, XRP slipped below $1.21. Even with this movement, Dark Defender asserts that the drop has left his projected trajectory unchanged.
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.
I… https://t.co/3rMbcruJ1y
— Dark Defender (@DefendDark) November 6, 2026
The Role of Old Resistance
The analyst placed specific emphasis on the $1.12 mark, which acted as a resistance ceiling throughout July and August. Following the breakout in late August, its function flipped. As Dark Defender observed, “Old resistance has one job now: hold as support. Price is still above it.”
This dynamic forms the backbone of his current outlook, as he considers the technical structure valid as long as XRP stays above $1.12.
Wave 3 is the Target
The full rationale behind his confidence stems from his October chart. Applying Elliott Wave theory to a 3-day time frame, Dark Defender mapped out a major Wave 1 established in November 2024, followed by a corrective Wave 2 extending through 2025 and into 2026. According to his chart, the price is currently positioned at the base of that Wave 2.
He has set a Wave 3 objective of $10.1101, which corresponds to a 427.20% Fibonacci extension from the base of the wave. Prior to reaching that ultimate target, intermediate levels identified on the chart include $1.5692, $1.8815, $2.9032, $4.1043, and $7.0786.
Additionally, the sub-wave layout displayed on the chart features White Sub-Waves 1 and 2 tracking the price activity from October 2024, further validating his pattern confidence.
Dismissing the Current Noise
Dark Defender remains blunt regarding the prevailing mood around XRP, writing, “I don’t listen to the FUD because XRP Wave 3 is loading.” He further noted, “Bears get loud at the bottom of Wave 2. Every time.” His stance remains firm: the technical structure is holding, and the end target is untouched.