Crypto analyst Dark Defender has made a noteworthy statement regarding XRP entering a new growth phase, with a price marked at $2.31.
Long-term Price Structure of XRP
Dark Defender's analysis reveals a long-term chart of XRP, showcasing a decade-long 'cup-and-handle' structure. This relationship resembles previous market cycles, especially the breakout in 2017 when XRP surged from sub-cent levels to over $3.00. The current structure appears to exhibit greater scale and technical maturity.
Confirmation from Ichimoku
In addition to classic chart patterns, the analysis incorporates the Ichimoku indicator, which signals the current trend and support/resistance levels. XRP's position above the Ichimoku Cloud on the monthly chart indicates a significant market structure shift. Previous breakouts above the Ichimoku Cloud have coincided with accelerated bullish phases, and the current setup appears to follow that pattern.
Technical Targets and Recommendations
Dark Defender establishes clear targets based on Fibonacci extensions. The initial target at the 1.618 level is set at $18.22, while the extended 2.618 level projects a price of $34.62. These targets are derived directly from the depth of the cup-and-handle structure, reinforcing that XRP historically respects these technical metrics.
In light of the growing interest in XRP, Dark Defender's analysis encourages focus on chart structures while dismissing distractions, opening potential opportunities for further growth.
