Top analyst Dark Defender has shared his outlook on XRP, predicting its potential rise to $5.85 by 2025 based on technical analysis.
XRP's Support and Resistance Levels
The XRP charts shared by Dark Defender illustrate crucial support and resistance zones on a weekly timeframe. The blue support line has proven significant since 2022, reaffirming its strength recently. The analyst highlights the necessity of breaking the Ichimoku Cloud level for long-term token growth.
Chart Patterns and Targets
The analysis is based on the Elliott Wave 5-wave structure, providing insights into XRP's potential price movements. Wave (3) could drive the price to $1.88, with Wave (5) potentially pushing it to $5.85, using 161.8% and 261.8% Fibonacci levels. These levels represent key resistance points where selling pressure might occur.
RSI Golden Cross and Its Implications
The weekly chart's RSI indicates a potential golden cross. This movement's completion could validate a bullish trend, aligning with the analyst's optimistic XRP forecast.
Dark Defender envisions XRP's growth to $5.85, based on chart patterns and technical indicators. Combining key levels and signals confirms this scenario by 2025.
