Dark Defender, a prominent crypto analyst and trader, has predicted a significant rally for XRP based on historical price movements and technical analysis. The analyst believes that the Ichimoku Cloud indicator and RSI trends may confirm XRP’s bullish breakout.
After reclaiming a critical support level of $0.40, the XRP price is currently showing signs of a slow rebound. According to its price structure, the token’s next key goal is to maintain its bullish foundation by staying above the $0.425 mark.
Dark Defender recently shared his technical analysis of the XRP price, indicating the possibility of a major surge ahead. By using previous price patterns, the analyst predicts a similar upward rise. With recent gains and a bounce at the 23.60% Fibonacci support level of $0.3917, XRP is initially seeking resistance at $0.50.
According to Dark Defender’s forecast, XRP is set for a breakout and bullish reversal. The analyst shared a triangle pattern on the weekly chart, with targets set at $1.88, $5.85, and $18.22. Furthermore, a breakout of the Ichimoku Cloud signal will validate XRP’s strong bullish trend.
The RSI indicator is currently trending downward into the oversold zone, which typically indicates a decrease in selling pressure and the possibility of a bullish price reversal.
Despite some opposing viewpoints, XRP continues to demonstrate resilience. Former Goldman Sachs analyst Murad Mahmudov has labeled XRP as a “cult memecoin” along with Cardano (ADA). However, XRP is still trading around $0.4409, up 1.62% over the last 24 hours.
In addition, pro-crypto attorney Billy Morgan recently acquired XRP for approximately $0.40, indicating that certain investors are becoming confident in XRP’s potential for a bullish breakout.