Amid a broader crypto market correction, Ripple’s native cryptocurrency XRP lost key support at $2.0 while its monthly decline widened to 14%.
However, XRP price has rebounded from the next support level at $1.88, which was last seen on November 22. Popular analyst Dark Defender says this is a key area for the Ripple cryptocurrency and a rebound could lead to a rise to $5.85.
Cryptocurrency analyst Dark Defender, who previously expected XRP to drop to $1.88 levels, has now set a new bullish price target of $5.85. The analyst uses the popular Elliott Wave structure to defend his analysis.
The analyst noted that XRP price has completed Wave 4 of the broader Elliott Wave cycle and is preparing to enter Wave 5. According to Dark Defender, this could fuel a 200% rebound from current levels.
Dark Defender said he has been tracking XRP’s Wave 4 correction since February 13, 2025. In his analysis, Wave A ended around $1.60 in April, followed by Wave B, which reached around $3.66 in July.
The final corrective wave, Wave C, reached $1.88, which he now believes is a confirmed bottom for the monthly wave 4 structure.
The analyst highlighted a key support area between $2.22 and $1.88, noting that XRP briefly traded within this range before rebounding higher.
Dark Defender uses Elliott Wave Theory and Fibonacci retracement levels to show that the wave 4 retracement is closely related to the 70.2% Fibonacci level.
Ripple’s native cryptocurrency XRP has been leading the broader market momentum. XRP ranked second in cryptocurrency inflows last week, behind Bitcoin, with a net inflow of $245 million.
On the other hand, spot XRP ETF inflows have finally reached the $1 billion milestone, with Canary Capital leading the way at $376 million, according to SoSoValue.
The U.S. spot XRP ETF has recorded 30 consecutive days of net inflows since its launch, although the Bitcoin and Ethereum ETFs continue to face sustained outflows.
Read original story by Coinspeaker.com’s Bhushan Akolkar XRP price rebounds from key support, analysts predict rise to $5.85
