After 7 Years of Consolidation, Analyst Says XRP Is Now Winking At $77.7

XRP has been in the spotlight following its significant technical movements, as highlighted by Dark Defender (@DefendDark), a popular crypto analyst on X.

According to his recent analysis, XRP has successfully eliminated a seven-year resistance level, signaling a strong upward trajectory.

Dark Defender believes this achievement has set the stage for further price expansion, with a mid-term target of $77.7.

XRP’s Path to $77.7

The attached chart emphasizes that XRP’s consolidation has built a solid foundation for its next potential rally. Fibonacci levels are central to this analysis, focusing on the 261.8% and 361.8% extensions, which indicate strong upward targets.

In early January, XRP broke above the 50% Fibonacci retracement, a critical level at $2.8160. It has held above this level since the breakout, further solidifying its bullish outlook.

Key Observations From the Chart

XRP’s breakout from its prolonged resistance has shifted the market dynamics. This move suggests long-term holders and institutions could drive the asset’s price.

XRP is also firmly positioned above the Ichimoku Cloud, indicating robust support and bullish sentiment. This level has historically acted as a key indicator of price direction.

If XRP maintains its current trajectory, achieving the $77.7 target is feasible. However, this requires sustained buying pressure and a favorable macroeconomic environment.

Milestones On the Path to $77.7

Dark Defender’s analysis incorporates Fibonacci extensions to outline potential price milestones for XRP. These levels are a key indicator of where XRP could face resistance or aim for new highs. Notably, the 261.8% level aligns with $5.85, marking a significant point of interest in the short term.

Beyond this, the 361.8% extension places another milestone at $18.22, showing the scope for a broader rally. Dark Defender has previously set these targets, adding credence to his new prediction.

The standout target remains $77.7, a level that reflects a strong mid-term ambition. According to the analyst, this figure represents XRP’s next major move if the bullish momentum continues.

XRP is currently trading at $3.13, and the $77.7 target would require a significant 2,382.43% increase for the digital asset. While such targets are speculative, the technical setup provides a basis for these projections.

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 urged to do in-depth 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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