Cryptocurrency analyst Dark Defender (@DefendDark) has pointed out a notable technical formation on the daily chart for XRP, which is currently changing hands at roughly $1.52. Based on his evaluation, the upcoming 24 hours will dictate the path of the cryptocurrency’s next major price movement.
The chart displays a symmetrical triangle taking shape following XRP’s rapid ascent from its Wave (5) low around $0.9852. The token surged powerfully toward the $1.69 region during a late August pump that constituted Wave (1). Subsequently, XRP experienced a corrective pullback into the $1.30 zone for Wave (2).
Ever since, the price has compressed as trendlines converge, characterized by higher lows and lower highs. A subsequent bounce drove the asset toward the upper boundary of the triangle, though consolidation persisted. Presently, the price is positioned right at the pattern’s apex.
What the Chart Shows
Dark Defender’s visual breakdown maps Fibonacci retracement levels over the recent price action. Key support thresholds are established at 50.00% ($1.2939), 61.80% ($1.3798), and 70.20% ($1.4445). XRP is presently pressing right up against the 85.40% level. Overhead resistance markers and potential targets reside at the 85.40% level ($1.5692) and the 161.80% level ($1.8815).
Furthermore, the chart highlights a recent peak of $1.6992. Dark Defender drew attention to the current valuation zone alongside the Relative Strength Index (RSI) panel to link price movement with market momentum. The RSI stands at 58.11, placing it in a neutral-to-bullish stance that is neither overbought nor oversold, thereby leaving open room for movement in either direction.
An impending bullish cross is visible on the chart as the RSI retests its signal line from underneath, an occurrence marked by a matching green circle within the RSI panel. While the RSI has cooled off considerably from its prior peak above 70 in the wake of the initial Wave (1) surge, a bullish crossover could validate a renewed shift in positive momentum.
The Levels to Watch
A blue trajectory mapped on the chart projects an advance toward $1.8815—representing the 161.80% Fibonacci extension—should XRP break upward out of the symmetrical triangle. Such a target would equate to an approximate 24% gain from current trading prices.
Serving as the triangle’s floor is a white ascending trendline originating from the macro Wave (5) low. Maintaining a position above this line preserves the bullish outlook. Characterizing the formation as a 24-hour decision point, Dark Defender signals that a resolution for the triangle is near. Market participants are monitoring $1.5692 and $1.6992 as vital resistance barriers that must be breached to secure a verified breakout heading toward the $1.8815 objective.