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Ahmed Barakat
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XRP price climbed roughly +15% overnight to trade near $1.15, reclaiming the psychologically important $1 level after weeks of chop, and XRP analyst Dark Defender argues the move confirms a completed “triple dip” on the weekly chart.
The call comes with eye-catching Elliott Wave targets of $5.8563 and $9.0362, numbers that demand scrutiny given how far removed they are from the spot price and how thin the confirmation actually is.
XRP Price Analysis: The Triple-Dip Case and Its Speculative Ceiling
Before XRP can test those numbers, it needs to clear a stack of resistance: roughly $1.20–$1.30, then $1.50, then $1.88, each a prior structural pivot on the weekly chart.
Holding $1 is treated as the line in the sand; a close back below it would undercut the entire Wave 5 premise the setup depends on, which is the same level recent XRP price analysis flagged as the pivotal test before any bounce could be trusted.
A Week Earlier, a Different Wave Count Called for $0.87
The bullish framing looks very different from the technical picture CasiTrades published just over a week earlier, when XRP was trading at $1.01 following a 2.5% daily drop tied to the Senate’s failure to advance the Clarity Act before recess.
That Elliott Wave count read the same region of price action as a Wave (3)-(4)-(5) decline still in progress, projecting a bottom near $0.95, a corrective bounce to $1.00–$1.04, and a final leg down toward $0.85–$0.86, a scenario that mirrored the broader struggle around the $1 level XRP had been fighting through for weeks.
The two counts can’t both be right, and that’s the actual takeaway: Elliott Wave analysis on XRP has produced sharply divergent XRP predictions from nearly identical starting points inside a two-week window.
CasiTrades cited an RSI reading of 36.62 with a bearish divergence pattern as evidence for more downside; price action since has favored the bulls, but a single trip back below $1 would revive that bearish case, a divide that echoes the range of outcomes surfaced in other recent XRP prediction models.
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Institutional Trading Hours Build Behind the Chart Debate
This covers the overlap between London’s afternoon and New York’s morning, up from 14.3% during the same window a year earlier, according to Evernorth’s August 18 disclosure, as covered by Bitcoin.com.
Three hours a day (London’s afternoon, New York’s morning) now account for ~23% of all the XRP that changes hands on-chain. A year ago, it was ~14%.
The concentration held across all three XRPL trading venues, order books, automated market maker pools, and cross-currency payments and arrived alongside roughly $900M in RLUSD-XRP volume over six months, per Evernorth’s separate research.
Evernorth has an obvious financial stake in the institutional-adoption narrative given its pending Nasdaq listing backed by Ripple, and even the firm conceded the limits of its own data, noting: “Nothing about XRP closes at 5pm. But we’re definitely seeing some rush hours.”
Public ledger records show transaction timing and volume, not the identities of the wallets moving the funds. Evernorth’s own disclosure states plainly that the data cannot confirm whether banks, trading desks, or automated systems are driving the shift, meaning the institutional-demand framing that propped up bullish XRP price narratives remains circumstantial rather than proven.
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