Weekly Time Frame Update: XRP Launches Wave 5 Without CLARITY Act

XRP may have entered a new market cycle as U.S. lawmakers work on crypto legislation. Crypto analyst Dark Defender (@DefendDark) believes the asset has completed its weekly correction and started its next major advance.

His latest update keeps a double-digit price target in focus despite the delayed timeline for the CLARITY Act. He has previously highlighted an Elliott Wave structure on the asset’s chart, and now shows that Wave 5 is beginning. However, it has started without the CLARITY Act.

Wave 5 Begins on the Weekly Chart

Dark Defender previously expected XRP’s Wave 5 advance to align with progress on the CLARITY Act. His latest analysis now shows the technical setup moving ahead on its own. The Senate missed the White House’s preferred July 4 timeline for the legislation. Even so, Dark Defender believes XRP has already entered its next Elliott Wave phase.

The weekly chart shows a completed A, B, and C corrective pattern after XRP’s rally to its all-time high. It also labels a completed Wave (5) at the recent low, which Dark Defender highlights with a green circle.

The chart also marks XRP’s RSI bottom. The asset recently dropped to historic oversold levels. This shows that selling pressure has eased after the prolonged pullback, and it adds to the bullish momentum.

Chart Projects Double Digit Prices

A blue projection on the chart outlines the expected Wave 5 advance. The path climbs toward the purple “DOUBLE DIGIT TRESHOLD” zone above $10. The projection reflects Dark Defender’s expectation rather than a guarantee. Still, his chart presents the weekly correction as complete and the next impulsive move as already underway.

He has previously set double-digit targets as high as $18 for XRP. Market participants will be looking to take profit at these high levels and reward years of patience.

CLARITY Act Still Matters

The CLARITY Act remains a key piece of legislation for the U.S. digital asset industry because it aims to establish a clearer regulatory structure for cryptocurrencies.

Dark Defender’s latest update suggests XRP does not need to wait for the bill before continuing its advance. If the bullish structure develops as projected, the asset could build momentum ahead of any legislative progress. A future move on the bill could then arrive while XRP already trades in an established uptrend.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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