XRP is About to Explode? The 3.33 USD Mark Could Trigger a Rise to $5.85?

The recent price movement of XRP has placed this cryptocurrency at a critical point on the daily chart, as market participants are closely following a decisive move. Crypto analyst Dark Defender (@DefendDark) shared a chart on X, highlighting the structure that is currently forming.

At the time he analyzed, this asset was trading at $3.29, slightly lower than the $3.33 level he considered key. Breaking through this range could set the stage for significant gains in the coming weeks. Technical Indicators Supporting Uptrend The current setup with a downward trend line acts as a resistance level, with the asset's price continuously testing its upper boundary. This resistance level formed after XRP reached an all-time high of $3.65 in July, and it has restrained the asset's price until the recent breakout. This breakout coincides with momentum indicators strengthening, further reinforcing the likelihood of an impending bullish move. The chart combines Fibonacci retracement and extension levels, providing a structured view of potential price targets. The 50% retracement level at $3.2039 is acting as a support zone just below the current trading levels. If XRP can hold this area and break through $3.33, the next Fibonacci extension levels will be drawn at $4.3927 (Fib 161.80%) and $5.8563 (Fib 261.80%). The Ichimoku cloud also presents a positive picture, with a green support area ranging from $2.92 to $3.2. This area has so far been in a downtrend, indicating potential buying pressure. In terms of momentum, the Relative Strength Index (RSI) is showing an upward trend. The RSI line has crossed above the signal line, a configuration that often occurs at the beginning of an upward trend. The analyst emphasizes this crossover as it coincides with the moment XRP breaks through the resistance line. What Is The Next Step For XRP? Dark Defender's analysis suggests that the $3.33 threshold is a key point for the current setup. The breakout forecast, illustrated by the green arrow, indicates a move past this threshold towards $4.44. The yellow arrow then suggests a short correction that could pull the price back to the $4 level. Next, the final price increase could bring XRP to $5.85. The current combination of positive price movement, support from the Ichimoku Cloud, and upward momentum is reinforcing the bullish scenario. Other analysts have described XRP as a ticking time bomb, and traders will follow the closing level above $3.33.