Once XRP Completes This Throwback, Analyst Says Next Target Is All-Time High

Dark Defender, a well-known analyst in the XRP community, recently shared a technical analysis on X, accompanied by a detailed price chart.

The chart highlights a completed throwback pattern following a breakout from a symmetrical triangle. This development has sparked optimism among XRP enthusiasts, with the possibility of an all-time high being a key focus.

The symmetrical triangle pattern is a common technical indicator that signals potential price consolidation before a significant breakout. This breakout occurred on January 11 with a notable price surge that brought the asset close to $2.6.

According to the chart shared by Dark Defender, XRP has since been completing a throwback to confirm the breakout. This movement aligns with established technical trading principles, where prices revisit breakout levels before resuming their upward trajectory.

XRP’s Strong Support

The chart also incorporates key Fibonacci retracement levels, particularly at 23.60% and 70.20%. These levels often guide traders in assessing potential support and resistance zones. The analyst highlights these two levels as crucial supports to prevent significant losses, with the first at $2.3761 and the second at $2.1370.

As observed, XRP maintained support above the 70.20% retracement during its recent price correction, reflecting bullish momentum. If XRP holds these levels, it could easily reach Dark Defender’s targets.

A New All-time High for XRP

Dark Defender’s post concluded with an optimistic sentiment, stating, “Next, All Time High.” This bold prediction suggests confidence in XRP’s upward potential. Although he did not specify a timeline for reaching new heights, the technical setup provides a strong foundation for this potential run.

Although the symmetrical triangle and Fibonacci levels indicate potential bullish trends, market sentiment, regulatory updates, and macroeconomic factors could influence XRP’s trajectory. However, XRP is currently showing many bullish signs, and many experts expect a massive upward breakout soon.

Another prominent crypto figure spotted a symmetrical triangle breakout in late 2024, and he believes this development can send XRP to $4 “out of nowhere.” The digital asset is currently trading at $2.66, and $4 would be a new all-time high.

On the more ambitious side, EGRAG CRYPTO, a well-respected crypto analyst, recently showed a pathway that could send XRP to $15 by March 10. Currently, XRP is in a good position and could experience a massive rally soon.

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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