TLDR:
- Dark Defender analyst predicts XRP could reach $8 based on Elliott Wave analysis, with key resistance at $3 and intermediate target at $5.85
- XRP experienced a 6.44% decline on February 4, 2025, closing at $2.5283, underperforming the broader crypto market
- SEC Commissioner Hester Peirce released a statement about the Crypto Task Force, criticizing the agency’s past handling of crypto regulations
- Current market uncertainty stems from pending SEC appeal in the Ripple case, with potential price impacts ranging from below $1.50 to above $3.55
- US Bitcoin spot ETFs recorded $91.7M in net inflows despite market volatility
XRP declines on February 4, 2025, dropping 6.44% to close at $2.5283, while the broader cryptocurrency market showed less severe losses at 3.90%. The total crypto market capitalization stood at $3.16 trillion during this period.

XRP Price
The price movement comes as crypto analyst Dark Defender shared a technical analysis suggesting XRP could reach $8 in the near future. The analysis, posted on social media platform X, uses Elliott Wave theory to map out potential price targets, with an intermediate goal of $5.85 before reaching the $8 mark.
https://twitter.com/DefendDark/status/1886800193598689745
According to Dark Defender’s analysis, XRP is currently consolidating below the $3 level, which he identifies as a crucial breakeven point for continued upward momentum. The analyst’s chart shows a descending channel pattern with a recent breakout, followed by a correction phase.
The technical forecast includes five waves of price movement, with the first wave peaking near $3.3999. The second wave pulled back into what technical analysts call the Ichimoku Cloud region, setting up for potential further advances in subsequent waves.
Some traders have questioned aspects of the analysis, particularly regarding the second wave’s depth relative to traditional Elliott Wave principles. Dark Defender defended his interpretation by referencing historical price action from December 2017, though this explanation faced additional scrutiny from community members.
Regulation
On the regulatory front, SEC Commissioner Hester Peirce released a statement on February 4 addressing the agency’s approach to cryptocurrency regulation. Peirce acknowledged past shortcomings in the SEC’s handling of digital assets, noting that the process of improving regulatory frameworks will require time and cooperation across multiple regulatory bodies.
The Commissioner’s statement highlighted the need for patience as the newly formed Crypto Task Force works to establish clearer guidelines. She emphasized that while the agency aims to provide better regulatory clarity, it maintains a firm stance against fraud and misconduct in the industry.
Ripple’s Chief Legal Officer, Stuart Alderoty, responded positively to Peirce’s comments, praising her consistent advocacy for balanced regulation throughout previous regulatory challenges faced by the crypto industry.
The current market dynamics are heavily influenced by uncertainty surrounding the SEC’s appeal in the Ripple case. Market analysts suggest two potential scenarios: a withdrawal of the SEC’s appeal could push XRP above its previous all-time high of $3.5505, while continuation of the appeal might drive prices below $1.50.
The trading volume for XRP has fluctuated as investors process these various developments. Technical indicators suggest the $3 price level remains a key resistance point that must be overcome for any potential move toward higher targets.
Dark Defender’s price prediction relies heavily on the market’s ability to break through current resistance levels. The analyst specifically points to $5.85 as an important milestone, represented by the 261.8% Fibonacci extension level on their technical charts.
Some exchanges have reported varying price movements, with Dark Defender noting that not all platforms showed identical price action during recent market volatility.
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