Technical analyst Dark Defender has identified a decisive setup on XRP’s daily chart, pointing to an imminent breakout that could define the next key move for the cryptocurrency. At the time of analysis, XRP changed hands at around $1.52 as it hovered near a critical technical formation.
Symmetrical triangle signals next move
XRP rallied sharply from a Wave (5) low at $0.9852 to reach a high near $1.6992, marking a significant move in late August. This initial surge, classified as Wave (1), was followed by a corrective drop to the $1.30 area for Wave (2). Subsequent price action compressed within converging trendlines, forming a symmetrical triangle pattern on the chart. The asset currently trades at the apex of this triangle, where the next 24 hours are expected to be pivotal for further direction.
The symmetrical triangle is a technical pattern often interpreted as a period of price consolidation before a breakout in either direction. XRP’s pattern has seen a sequence of higher lows and lower highs, with recent rallies pushing the price toward the triangle’s upper boundary but failing to secure a sustained breakout so far.
Mini dictionary: Symmetrical triangle, a chart pattern marked by converging trendlines of higher lows and lower highs, usually signaling a consolidation before a breakout or breakdown.
Key price levels and technical indicators
Dark Defender’s chart analysis mapped out significant Fibonacci retracement and extension levels. Notable supports include the 50.00% retracement at $1.2939, 61.80% at $1.3798, and 70.20% at $1.4445. Immediate resistance aligns with the 85.40% Fibonacci level at $1.5692, while further upside targets the 161.80% extension at $1.8815. A breakout above the triangle could propel XRP nearly 24% higher toward this upper target.
| Level | Fibonacci (%) | Price |
|---|---|---|
| Support 1 | 50.00% | $1.2939 |
| Support 2 | 61.80% | $1.3798 |
| Support 3 | 70.20% | $1.4445 |
| Resistance 1 | 85.40% | $1.5692 |
| Target | 161.80% | $1.8815 |
The chart further highlights the Relative Strength Index (RSI) at 58.11, which remains in neutral-to-bullish territory. After cooling from above 70 during the previous spike, the RSI is not currently overbought or oversold. A bullish crossover has emerged as the RSI tests its signal line from below, often seen as confirmation of increasing bullish momentum.
XRP sits at the apex of a symmetrical triangle and is challenging the 85.40% Fibonacci resistance. If price clears the nearby resistance levels, a move toward $1.8815 becomes increasingly likely.
Dark Defender illustrated the critical nature of the current phase, describing it as a “24-hour decision” for the market. A break above the blue trendline could set the stage for a new uptrend, while a drop below the triangle’s lower support would negate the bullish outlook. The market will be closely watching the resistance levels at $1.5692 and $1.6992 for confirmation of any bullish breakout.
Dark Defender is an independent crypto analyst known for technical chart interpretations and XRP commentary on social media.
If XRP holds above its trendline support and momentum remains positive, the next session could be decisive in determining whether the asset continues upward or begins a new correction.
