Ripple XRP

Is XRP on the Verge of a $3 Breakout? Analyst Weighs In

Crypto analyst Dark Defender (@DefendDark) has issued a bullish forecast for XRP, highlighting a potential rally to $3. In a recent post on X, the analyst outlined key price levels, predicting that XRP will first test $2.77 before breaking higher.

Key Resistance at $2.77

According to Dark Defender, the $2.77 price level represents a critical resistance zone for XRP. The analyst’s chart identifies the 38.2% Fibonacci retracement level at approximately $2.7740, reinforcing its significance as a short-term barrier. Currently trading at $2.7, XRP has been consolidating around this range, positioning itself for a potential breakout. If the asset successfully clears the $2.77 level, it could gain further bullish momentum, pushing toward the highly anticipated $3 mark.

Technical Indicators and Market Trends

Dark Defender’s analysis on the weekly timeframe underscores XRP’s strong uptrend, supported by an ascending trendline. Price movements have consistently adhered to this structure, providing a stable foundation for continued gains.

Recent buying activity has confirmed market interest at current levels, following a retracement in January. Should bullish sentiment prevail, XRP could accelerate toward its projected targets. The Fibonacci retracement levels suggest further key price points, with the 23.6% level at $2.9980 acting as an intermediate milestone before reaching $3. Conversely, the 61.8% retracement at $2.4467 serves as a crucial support zone in case of a pullback.

XRP’s Next Moves

Dark Defender emphasized the importance of reclaiming resistance zones for XRP’s continued bullish trajectory. The analyst suggests that once XRP successfully tests $2.77, a swift move to $3 could occur within hours.

Previously, Dark Defender maintained a consistently bullish stance, citing historical patterns that align with the current price structure. Notably, he has hinted at an even greater price surge, forecasting a potential rally to $8 in the near future. Such a move would surpass XRP’s all-time high of $3.84, reinforcing optimism among investors.

Also Read: Grayscale’s XRP ETF Nears SEC Decision: Will XRP Hit $3.84 Again?

As XRP inches closer to these critical breakout levels, market sentiment and investor participation will ultimately determine whether this bullish projection materializes.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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