Renowned cryptocurrency analyst Dark Defender has shared a new technical analysis of XRP, suggesting a potential breakout.
Technical Setup and Key Indicators
The chart shared by Dark Defender presents XRP’s price action in the 4-hour timeframe. It shows that XRP fell below a resistance trendline since its recent multi-year peak of $3.39. The recent decline in early February, caused by tariff threats from the Trump administration, further solidified this downturn. However, XRP recently broke out of this triangle, forming a bullish crossover in its RSI. This move could bring a significant shift in momentum if sustained.
XRP Potential Price Targets
Dark Defender did not provide specific targets on this chart, but he has previously outlined short-term projections of $5.85 and longer-term targets of $18.22. These targets are based on Fibonacci extensions and historical price behavior, suggesting a potential rally if key resistance levels are cleared.
Caution and Market Considerations
While Dark Defender’s analysis presents a bullish case, it is important to approach these projections with caution. Cryptocurrency markets are highly volatile, and technical patterns do not always occur as expected. Some community members are disappointed in XRP’s performance, but many believe in its potential. Currently, XRP is trading at $2.44, up 2.14% over the past 24 hours. If momentum is sustained, it could lead to a new all-time high.
Dark Defender's XRP analysis indicates a potential bullish breakout, but investors should be cautious and consider the market's volatility.
