- XRP could surge toward $6.85 as it completes Wave 5 with bullish on-chain activity and strong technical signals supporting the rally.
- Dormant XRP wallets are active again, showing investor confidence and fueling momentum as the price holds key support near $3.15.
- Technical analysis and wallet data suggest XRP’s next breakout could bring big gains as buyers watch resistance at $3.61 closely.
XRP is showing strong bullish momentum as technical and on-chain data indicate the potential start of a major upward move. Dark Defender, a well-known analyst, confirmed that XRP has completed Waves 1, 2, and 3 of the Elliott Wave cycle. He noted that Wave 4 is now in progress, setting the stage for Wave 5.
According to his analysis, the next wave could target $5.85 and potentially reach $6.85, a level that would nearly double XRP’s current price. This outlook follows a recent 46% price increase that has captured the attention of traders and investors.
Source: Dark Defender
Elliott Wave Analysis Points to $6.85
Dark Defender’s analysis shows XRP climbing through key resistance levels at $3.07 and $3.61 before Wave 5 fully materializes. The Relative Strength Index (RSI) also supports this bullish outlook, showing a trend consistent with the fourth wave consolidation phase. A break above the $3.61 level would likely confirm the wave’s strength and momentum.
Besides the technical setup, XRP’s long-term price structure aligns with the Elliott Wave pattern’s 261.80% Fibonacci extension, placing the $6.85 target firmly in sight.
On-Chain Data Strengthens the Bullish Case
Santiment data adds another layer of bullish confidence for XRP. Dormant wallets have become increasingly active, with the average age of XRP investments dropping by 91 days in the past month. This 13% reduction signals that older coins are returning to circulation, often a sign of healthy market activity.
Source: Santiment
Moreover, the “Age Consumed” metric has spiked several times, indicating that large holders are repositioning their portfolios. Usually, this pattern encourages price increases rather than indicating panic selling. Traders view these developments as a solid basis for the upcoming surge, as XRP continues to hold steady around the $3.15 support level.
