Technical analyst Dark Defender has updated his outlook on XRP’s monthly Wave 5, sharing high-level consolidation structures from June 8, 10, and 12. In his latest post, he emphasized XRP’s exact bounce at the $2.222 Fibonacci level—adding weight to his bullish continuation scenario.
Defender noted that XRP touched $2.222 “once again,” respecting a key Fibonacci confluence zone identified in earlier projections. He views this precise reaction as confirmation of structural support and a likely precursor to the next impulsive move.
Consolidation Maps Align with Elliott Wave Structure
The shared charts from June 8 to June 12 show XRP moving through classic corrective phases—labelled A, B, and C—following a completed Wave 3 rally. On June 12, Defender pinpointed the final leg of this correction, forecasting a bounce off the 161.8% Fibonacci extension, which coincided exactly with $2.222.
Each update reinforces the setup for a larger Wave 5 move to the upside, with prior support zones holding and price action unfolding in alignment with Elliott Wave theory. The analyst also highlights patterns like the “Coffee Cup Line” and RSI behavior, suggesting growing momentum.
Wave 5 Imminent as Technicals Align
While timing remains uncertain, Dark Defender’s analysis suggests that XRP may be nearing the start of its next major leg. With Fibonacci levels respected and structure intact, all eyes are now on Wave 5—and whether XRP can break higher from its current consolidation base.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/xrp-hits-precise-fibonacci-target-ahead-of-wave-5-breakout/