Analyst Predicts XRP Price to Breakout Regardless of Technical Analysis
The analysis of XRP indicates a potential bullish breakout based on several technical patterns. Key points include:
- Analyst Dark Defender notes a completion of the Cup and Handle formation, suggesting an impending price surge.
- XRP has established support above $2.85, with Fibonacci retracement levels affirming this bullish stance.
- Target price could reach $5.85, aligned with the 261.8% Fibonacci Extension level.
- A repeat of the Bull Flag formation is anticipated, which historically has led to price increases.
- Current consolidation above $3 is critical; maintaining this level may confirm the bullish trend.
- Potential upside targets from the Bull Flag are set at $3.35, $4.39, and ultimately $5.85.
