XRP Primed for Explosive Rally, Analysts Confirm
Despite varying analytical approaches, leading crypto analysts are converging on one powerful conclusion: XRP is on the cusp of a significant price surge. Popular analyst Dark Defender highlights a confluence of bullish technical setups, signaling that the digital asset is poised for an imminent breakout, regardless of the specific framework employed.
Technical Indicators Point to Imminent Breakout
The much-anticipated "Cup and Handle" formation on XRP's weekly chart is nearing completion, according to Dark Defender. After months of consolidation to form the "cup" portion, the cryptocurrency is now finalizing the "handle" – a corrective phase typically preceding a powerful upward movement. This bullish outlook is further reinforced by Elliott Wave analysis, which suggests XRP has concluded its retracement and is now preparing for its next impulsive wave. Fibonacci retracement levels underpin this setup, with XRP maintaining strong support above the 23.06% mark at $2.85, a crucial foundation for its next leg up. The ultimate target for this current move could potentially reach as high as $5.85, aligning with the 261.8% Fibonacci Extension.
Historical Patterns Signal Repeating Performance
Adding to the bullish sentiment is the potential repetition of a "Bull Flag" formation, a pattern historically known to precede explosive breakouts for XRP. Dark Defender points to a successful prediction from November 2024, where a similar Bull Flag setup at $1.13 accurately foreshadowed a rally to $2.40. Currently, XRP is consolidating within another Bull Flag pattern on the weekly chart, tightening just above the $3 mark. Critical immediate support levels at $3 and $2.85 must hold to validate this bullish continuation. If these levels are maintained, Fibonacci extensions project further upside targets at $3.35 (70.2%), $4.39 (161.8%), and ultimately, another run towards $5.85 (261.8%), mirroring its late 2024 performance.
