Dark Defender: XRP Is Coiling for Next Leg Up after Completing This Major Pattern

Crypto analyst Dark Defender (@DefendDark) highlighted a key technical pattern forming in XRP’s chart. He showed that XRP has completed a significant cup-and-handle structure.

In his latest analysis, he noted that the “3rd largest ‘blue arc’ is being prepared for higher Fibonacci targets.” This pattern indicates a potential continuation of upward momentum, suggesting that the next price movement could be substantial.

The chart shows a breakout point where XRP surpassed a resistance line marked by yellow trendlines. The breakout is emphasized with a green circle. Following this, XRP has found support along the orange trendline. The interaction between breakout and support levels shows that XRP has established a base for potential growth.

Fibonacci Levels Point to Targets

Dark Defender’s chart also outlines key Fibonacci extension levels. These are 261.8% at $5.85, 361.8% at $18.22, 423.6% at $36.76, and 461.8% at $56.73. The sequence of these targets reflects a structured trajectory if upward momentum persists. The chart suggests that XRP is positioned to reach higher levels in line with these technical projections.

The breakout occurred after an extended consolidation period marked by lower volatility and tighter price ranges. Dark Defender’s observation of the cup-and-handle formation indicates that the current structure favors a continuation to the upside.

The pattern also aligns with previous bullish movements. XRP’s surge in 2017 began after a breakout from a similar cup-and-handle pattern. The current setup suggests that XRP may repeat a similar trajectory.

Support Levels Provide Stability

The chart highlights multiple support levels for XRP. These are around $0.56, $0.80, $1.20, and $1.43. XRP recently experienced a notable price decline, testing the $1.20 range. However, it has remained above the $0.80 level, reinforcing the importance of these supports.

These levels could act as points of entry for new buyers and protect against sharp pullbacks. Maintaining prices above these supports is crucial for sustaining momentum toward the Fibonacci targets.

Short-Term Outlook

The technical indicators suggest that XRP is in a preparation phase for further upward movement. The combination of a completed cup-and-handle pattern, breakout confirmation, and established support levels creates a foundation for continued bullish behavior. Dark Defender’s chart implies that the next leg of growth could follow a similar acceleration.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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