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$XRP has completed Wave 4 of a multi-year Elliott Wave structure, with the upcoming Wave 5 targeting a new all-time high above $8.
The ongoing market downturn has continued to impact asset prices, as $XRP struggles to record a breakthrough above the current lows. However, data shows the turbulence has led to $XRP completing the Wave 4 of a 3-year Elliott Wave structure, with Wave 5 eyeing new highs.
Key Points
- The current market downtrend has impacted $XRP’s price position, leading to a 61% decline from the $3.6 peak to the current price of $1.4.
- These persistent declines have now resulted in the completion of the corrective Wave 4 phase of a multi-year Elliott Wave structure.
- The Elliott Wave structure started forming in January 2023, with $XRP recovering from the $0.29 low during Wave 1.
- Wave 1 ended with a peak of $0.93 in July 2023, Wave 2 closed with a low of $0.38 by July 2024, and Wave 3 ended at the $3.4 high in January 2025.
- Following the recent completion of Wave 4, chart data indicates that the upcoming Wave 5 could push $XRP to an all-time high of $8.5.
Current $XRP Downturn Part of the Plan
This is according to a market exposition provided by Dark Defender, a prominent analyst, as $XRP struggles to rebound above current lows. These struggles led to a recovery push earlier this month, with $XRP reaching a peak of $1.6 last week before pulling back to the current price of $1.4.
While the recent correction has again dealt a blow to investor confidence, Dark Defender has maintained optimism. According to him, $XRP has continued to follow his structure despite the ongoing downward price action that began in Q4 2025.
In fact, the downtrend was actually part of the plan, as data points to a multi-year Elliott Wave structure on the 1-week chart that began in early 2023 and continued to guide $XRP’s price action over the last three years.
The $XRP Elliott Wave Structure
According to Dark Defender’s chart, the Elliott Wave structure started after $XRP collapsed to the $0.2996 low in January 2023 during the bear market of that time. From here, Wave 1 began, leading to a recovery push from the crypto asset. This first wave ended when $XRP rose to $0.93 in July 2023 following the key ruling in the SEC case.
From here, the pullback that followed aligned with the start of the corrective Wave 2, which pulled prices back below the $0.5 point. Notably, the $XRP price collapsed to a low of $0.3814 in July 2024, and this culminated in the completion of Wave 2.
Expectedly, Wave 3 began immediately after. $XRP’s November 2024 explosive surge occurred during this Wave 3 rally, leading to a peak price of $3.4 by January 2025. This aligned with the end of Wave 3, with the downtrend that began leading to Wave 4, which has now reached its end at current prices.
Wave 5 Targets $8.5
Amid the current downturn, $XRP recently retested the support at a lower ascending trendline that has acted as a cushion against steeper declines. The trendline took shape after the July 2024 low, with $XRP seeing higher lows since then. The retest at this trendline saw $XRP defend the support around $1.1, which may have marked the completion of Wave 4.
With Wave 5 on the verge of taking shape, Dark Defender has already presented targets for this upcoming phase. According to data from his chart, $XRP could target $8.5 at the completion of Wave 5. Currently trading for $1.4, this would mark a 507% increase for the token, resulting in a new all-time high.
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