Dark Defender Signals Imminent XRP Breakout from Multi-Month Triangle
Analyst Dark Defender warns that XRP’s long-term monthly chart has compressed into a tightening triangle formation, leaving “no room” for further consolidation before a major move. Bound by an orange resistance line (connecting lower highs since January) and a blue support line (in place since late 2024), the converging trendlines point toward an “Explosive Trigger” around June–July. XRP currently trades near $2.17, just above support. A Fibonacci extension at 161.8% (~$1.88) is highlighted as a downside target if the pattern breaks lower. However, analysts expect a bullish breakout, with projections that XRP could reach a new all-time high by late July. The convergence of diminishing volatility and key technical levels sets the stage for a decisive market move. Traders should watch for a confirmed break above resistance or a breakdown below support before positioning, as this juncture may define XRP’s next major trend.
Bullish
The tightening triangle and labeled “Explosive Trigger” suggest a high-probability breakout scenario, historically similar to past XRP and broader crypto wedge patterns that preceded large rallies. The convergence of resistance and support forces price into a narrow range, building compressed energy. If XRP breaches the orange trendline, traders are likely to drive a swift upward move toward or above prior highs. Even if the downside triggers a test of the 161.8% Fibonacci level, the overall multi-month bullish bias remains intact given the market’s tendency to rebound after significant compressions. Short-term, a breakout confirmation could trigger momentum-based entries; long-term, a successful climb to new highs would reinforce investor confidence and potentially attract fresh capital into XRP.