For months, XRP has trended downward, wearing on the nerves of investors who purchased tokens at elevated prices. Yet, cryptocurrency analyst Dark Defender (@DefendDark) emphasizes that this difficult period provides no cause for panic, noting that the downward path was visible on charts well before it unfolded.
Examining XRP’s weekly timeframe using Elliott Wave theory, Dark Defender categorized the recent drop as Wave 2 within a broader bullish impulse cycle. In a social media post, he noted: “The turbulence you just felt was Wave 2. It was on the chart before it happened. Nothing changed. Only the hands holding XRP did.”
Elliott Wave corrections of this type are designed to clear out hesitant holders prior to a more powerful market phase. Based on Dark Defender’s evaluation, that consolidation phase has concluded.
The turbulence you just felt was Wave 2.
It was on the chart before it happened.
Nothing changed. Only the hands holding XRP did.
Above $1.5692, Wave 3 begins. pic.twitter.com/BLirjmFceD— Dark Defender (@DefendDark) October 13, 2026
Elliott Wave Structure
Chart data highlights a finished A-B-C correction stretching from early 2005 through mid-2026. Wave (A) reached a low around $1.8, Wave (B) bounced back toward the cryptocurrency’s peak of $3.65, and Wave (C) brought the price down to roughly $0.95. This low point set the groundwork for the ongoing impulse framework.
Building upon that foundation, Dark Defender maps out Wave (1), which wrapped up when XRP rallied to $1.68 late in August. A subsequent Wave (2) retracement brought the token back toward the $1.29 range. Trading presently at about $1.37, XRP hovers just underneath the threshold needed to trigger the subsequent major upward phase.
The Trigger for the Next Move
According to Dark Defender, a single threshold is critical at the moment: $1.5692. As he stated, “Above $1.5692, Wave 3 begins.” This threshold aligns with the 85.4% Fibonacci extension highlighted in his technical breakdown. A confirmed close past $1.5692 will indicate that Wave 3 of the larger impulse has kicked off.
Within Elliott Wave framework, Wave 3 phases are generally the most extended and powerful part of the five-wave cycle, making them a focal point for market observers.
Price Targets From the Chart
Fibonacci extension levels featured on Dark Defender’s chart outline a series of goals for the upcoming climb. Wave (3) targets the 361.80% extension at $7.0786. Following a Wave (4) correction down to near $4.1043, Wave (5) anticipates a run toward the 427.20% extension at $10.1101.
The weekly Relative Strength Index (RSI) reinforces this outlook. The indicator has rebounded from deeply oversold levels and continues an upward trajectory without entering overbought territory, signaling ample space for further price gains before momentum wanes.