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Crypto analyst Dark Defender (@DefendDark) has released an updated technical chart that indicates XRP could be on track to reach the long-anticipated $8 price level in the “upcoming days.” The chart, shared on X yesterday, depicts an Elliott Wave structure complete with clearly defined support and resistance levels, along with a noteworthy correction currently taking place below the $3 price zone. The analyst first teased the chart on X: I will explain how XRP is expected to target $8 in the upcoming days with key levels and my enter and exit strategies […] I will share it on X […].” He later shared the chart and explained: “XRP continues the daily correction and consolidates under the $3 level, which will be the breakeven point for continuing with our targets. Wave 3 indicates $5.85 is at sight and closer than ever before. This structure aims at $8+ levels with its 5th Wave shortly.” The XRP Price Analysis Broken Down According to Dark Defender’s latest daily chart, XRP has been trading within a descending channel (identified by two white trend lines), from which it previously broke out. The analyst denotes five impending waves (labeled (1) through (5)) in an Elliott Wave formation. Wave (1) peaks near $3.3999, while the subsequent correction, labeled (2), dips back inside the Ichimoku Cloud region on the chart. Related Reading: XRP Price Crashes Hard: Is There a Recovery in Sight? At the chart, XRP hovers around $2.56, and the analyst emphasizes the $3 critical level as the necessary “breakeven point” for resuming bullish momentum toward higher targets. The XRP price needs to break through the top white trendline on the chart to build momentum in Wave (3). The chart also features a highlighted 261.8% Fibonacci extension line around $5.8563, signaling a projected Wave (3) objective. After a presumed Wave (4) pullback below $4.50, Wave (5) targets $8+ — a zone that Dark Defender believes XRP could reach “shortly.” In the comment section beneath the post, one user, @pommapomatum, questioned whether XRP’s second wave legitimately dipped below the start of Wave (1), a move typically inconsistent with classical Elliott Wave theory. Dark Defender responded by citing a historical precedent from December 6, 2017. “You are right. However, when we check XRP history, we see similar wicks down to clear the way for the next move. We had this type of extraordinary move on December 6, 2017. XRP went from 30 cents to 0.002 cents and then within a month, XRP hit the ATH at $3.82,” Dark Defender stated. Related Reading: Get Ready: XRP Set To Skyrocket To $4.39, Says Trading Guru @pommapomatum countered that the 2017 wick has been exchange-specific and not indicative of market-wide conditions. Dark Defender acknowledged this concern, noting that not all platforms showed the dramatic wick in 2017 and that the same discrepancy appeared yesterday on certain exchanges. “It was the same case yesterday. Not all the exchanges had the same wick. E.g. Kraken. I think that is an exception and chosen to exclude that wick but candle close,” the analyst remarked. Notably, the Ichimoku Cloud on the chart underscores ongoing consolidation as XRP’s price moves beneath the $3 threshold. Dark Defender describes this support zone as key for bullish continuation, noting that a decisive break above $3 would confirm the next major wave toward $5.85 (Wave (3)) and, ultimately, an $8+ target (Wave (5)) if the pattern follows through as envisaged. At press time, XRP traded at $2.50. Featured image created with DALL.E, chart from TradingView.com