Dark Defender Dismisses XRP FUD as Price Structure Holds

With XRP changing hands around $1.16, skepticism is rising, but crypto analyst Dark Defender remains unfazed by the growing pessimism.

Taking to X to address prevailing market moods, the analyst argued that XRP’s underlying price formation stays intact despite a recent wave of selling. “Nothing has changed in the structure,” he emphasized.

Support Levels Were Marked Weeks Ago

Dark Defender pinpointed these support thresholds well ahead of the price decline. Back on October 25, he shared a chart analysis designating $1.21 and $1.12 as key Wave 2 support zones, referencing that prior work in his latest update. “We marked the Wave 2 supports at $1.21 & $1.12 on this chart on Oct 25, long before today’s candle,” he noted.

XRP retreated to test those exact regions following a sharp market downturn that arrived on the heels of the 2026 midterm elections. Following a Democratic sweep of both congressional chambers, U.S. equities pulled back, dragging the broader digital asset market downward.

On November 6, the Nasdaq tumbled more than 5%, pushing XRP below the $1.21 mark. Even with this movement, Dark Defender asserts that the drop has not disrupted the path he outlined weeks prior.

Nothing has changed in the structure.

$1.12 was the ceiling #XRP fought all of July & August.
Old resistance has one job now: hold as support.

Price is still above it.

We marked the Wave 2 supports at $1.21 & $1.12 on this chart on Oct 25, long before today's candle.

I… https://t.co/3rMbcruJ1y

— Dark Defender (@DefendDark) November 6, 2026

The Role of Old Resistance

The analyst placed special emphasis on the $1.12 threshold, which acted as a stubborn price ceiling throughout July and August. Following the subsequent breakout in late August, its function changed. As Dark Defender observed, “Old resistance has one job now: hold as support. Price is still above it.”

This dynamic forms the foundation of his outlook. As long as XRP maintains its position above $1.12, he views the technical structure as completely sound.

Wave 3 is the Target

His October chart supplies the complete picture behind his bullish stance. Applying Elliott Wave principles to a 3-day time frame, Dark Defender tracked a major Wave 1 starting in November 2024, followed by a corrective Wave 2 extending through 2025 and into 2026. The technical layout places current valuations right at the conclusion of that Wave 2.

The targeted peak for Wave 3 sits at $10.1101, which corresponds to a 427.20% Fibonacci extension from the foundation of the wave. Before hitting that maximum objective, intermediate milestones identified on the chart feature targets at $1.5692, $1.8815, $2.9032, $4.1043, and $7.0786.

Additionally, the sub-wave layout visible on the chart maps White Sub-Waves 1 and 2 to price movements from October 2024, further validating his confidence in the technical setup.

Dismissing the Current Noise

Dark Defender did not mince words regarding the current anxiety surrounding XRP. “I don’t listen to the FUD because XRP Wave 3 is loading,” he stated, adding, “Bears get loud at the bottom of Wave 2. Every time.” His stance remains firm: the technical architecture holds strong, and the ultimate target is unchanged.

Frequently Asked Questions

What is XRP trading at, and how is the market reacting?

XRP is trading near $1.16. While market bears are growing increasingly vocal following a recent sell-off, crypto analyst Dark Defender maintains that the asset’s price structure remains fully intact.

What caused the recent drop in XRP’s price?

The recent market correction was triggered by a sharp sell-off across U.S. equities following the 2026 midterm elections, in which Democrats swept both chambers of Congress. This dragged crypto markets down alongside a more than 5% drop in the Nasdaq on November 6.

What are the critical support levels for XRP?

Analyst Dark Defender identified $1.21 and $1.12 as key Wave 2 support targets in an analysis published on October 25. The $1.12 level, which previously acted as resistance throughout July and August, is now expected to hold as a support floor.

What is Dark Defender’s long-term price target for XRP?

Using Elliott Wave analysis on a 3-day chart, Dark Defender has set a Wave 3 target of $10.1101, which aligns with a 427.20% Fibonacci extension. Intermediate targets include $1.5692, $1.8815, $2.9032, $4.1043, and $7.0786.