November 14, 2025 – XRP’s weekly chart has compressed into a decisive structure, signaling a potential breakout that could propel the cryptocurrency significantly higher this bull cycle. Crypto analyst Dark Defender projects that XRP could reach as high as $36, based on a developing Elliott Wave pattern that traces back to June.

Elliott Wave Analysis Points to Wave Three Expansion

Technical analysis of XRP’s weekly candlestick chart reveals a tightening triangle, formed over several months of consolidation. This narrowing pattern has created a clear support and resistance framework, with the cryptocurrency currently trading near the apex, where volatility is expected to return.

According to Dark Defender, the Elliott Wave structure began in mid-June with Wave One, an impulsive rally that took XRP to a peak of $3.65. Following this, Wave Two initiated a corrective phase, producing lower highs beneath descending resistance and higher lows above support, forming the narrowing triangle.

The analysis indicates that once the correction concludes, the market will enter Wave Three, typically the longest and strongest wave in an Elliott Wave sequence, often delivering the largest gains.

Key Support and Resistance Levels

• Support: $2.22 – has held firm throughout consolidation.
• Resistance: $2.85 – the key level for confirming the start of Wave Three.

A weekly close above $2.85 would signal the transition into Wave Three, while a break below $2.22 could delay bullish momentum.

Potential Price Targets

Using Fibonacci extensions to forecast the next stages:

• Wave 3 first leg: 261.8% extension at $5.85
• Wave 3 broader target: 361.8% extension at $18.22
• Final Wave 5 impulse: 423.6% extension near $36.76

A Wave 4 pullback is expected to temper momentum before the final Wave 5 completes the structure.

Current Market Snapshot

At the time of writing, XRP is trading at $2.31, down 8.2% in the past 24 hours. Analysts caution that while the setup is bullish, the breakout is contingent on holding support and surpassing resistance levels.