XRP Remains Bullish Above $1.21; Analysts Say Wave 5 Could Take Price to $5.65 or Even $6.60 if Key Supports Are Respected

Analyst Dark Defender calls this XRP's “Final Consolidation” as breakout targets at $3.75 and $5.85 come into focus.

R.I.P. to the narrative that we are in a bear market. At least, not if these crypto analysts are to be believed.

According to multiple analysts, XRP is still holding strong above a key support range. This area is critical, and as long as XRP stays above it, the overall bullish structure remains intact.

Recently, there has been some price pullback, which is being seen as part of a normal wave pattern—specifically, wave four in a five-wave structure. If this pattern plays out, XRP could soon enter wave five, which might take the price as high as $5.65 or even $6.60.

This will hinge on whether XRP avoids slipping below the crucial support at $1.21. If it does, a deeper drop could follow, possibly testing lower support levels between 88 cents and 61 cents. However, most analysts believe such a deep correction doesn’t align well with the bigger market picture.

The next big test will be whether XRP can stay above the $1.82 level. If that support holds and the price breaks above the recent high of $2.13 set on April 16, it could be the start of the next strong leg up. In that case, XRP may head toward the $2.46 mark and beyond.

Final Stage of Consolidation?

Crypto analyst Dark Defender calls this period the “Final Consolidation” of XRP’s monthly structure. He says the nearly complete sideways movement and a breakout could be coming soon.

Pointing out resistance levels at $2.22 and $2.30, Dark Defender says if those are broken, then a move to breakout targets at $3.75 and $5.85 may follow.