Leading crypto analyst Dark Defender has unveiled a highly bullish outlook for XRP, identifying multiple upside targets that could see the digital asset reach unprecedented levels. This technical analysis comes as XRP maintains crucial support at $2.42, with mounting evidence suggesting an imminent breakout.
This analysis follows recent institutional interest in XRP sparked by pro-crypto policy shifts, adding fundamental support to the technical outlook.
Technical Analysis Points to Multiple Price Targets
The current price action shows XRP establishing strong support at $2.36 after reaching a local high of $2.56. This consolidation pattern, combined with the conversion of a previous resistance trendline into support, suggests accumulation before the next leg up.
Key Price Levels to Watch
- Immediate Resistance: $2.55
- First Target: $2.75
- Major Target: $5.85
- Critical Support: $2.3951
Long-term Fibonacci Extensions Signal Higher Targets
Dark Defender’s analysis extends beyond immediate targets, incorporating advanced technical frameworks:
- Wave 3 Extension Target: $77.7
- Intermediate Range: $18-$23
- Initial Breakout Level: $8.00
Supporting Technical Indicators
The bullish thesis is supported by multiple technical factors:
- Volume trends showing accumulation
- RSI behavior indicating momentum
- Historical pattern repetition
- Elliott Wave positioning
FAQ Section
What is the immediate price target for XRP?
The immediate target is $2.75, with resistance expected at $2.55.
What technical indicators support the bullish outlook?
Volume trends, RSI behavior, and Elliott Wave analysis all align to suggest an upcoming rally.
What is the long-term price potential for XRP?
According to the analysis, XRP could reach $77.7 in wave 3, with potential for three-digit prices in wave 5.
At time of publication, XRP trades at $2.42, maintaining crucial support as it prepares for its next move.