- XRP breaks from a long-term trendline, initiating a new Elliott Wave cycle.
- $2.00 reclaim sparks bullish interest, with targets at $2.90 and $3.75 in focus.
- Fibonacci levels and wave counts align, reinforcing a projected move toward $5.85.
XRP’s price action is nearing the end of a prolonged consolidation phase on the daily time frame. Analysts monitor structural signals, breakout levels, and projected wave patterns as momentum builds toward critical resistance.
Breakout Structure and Wave Formation
Market analyst Dark Defender provided a detailed technical analysis of the ongoing breakout setup and its projected path. Based on the current structure, he notes the monthly consolidation is entering its final leg, signaling trend exhaustion. A breakout above the descending trendline occurred near the Fibonacci 1.618 extension, which aligns with $1.83 support. This zone supported multiple reversals and helped establish a base for the next wave.
Source: Dark Defender
After reviewing the latest formation, the analyst points out that the first impulsive Elliott Wave appears underway. The breakout candle closed above the trendline, shifting from compression to directional expansion. With momentum building, he provides further insight into the multi-wave setup targeting higher Fibonacci zones.
In this pattern, the analyst sees an unfolding five-wave cycle with targets projected at $3.75 and $5.85. The anticipated Wave 5 aligns with the 2.618 Fibonacci extension, forming a logical endpoint. From this consolidation, he draws a connection to prior macro bullish cycles that followed similar structural breaks.
By tracking previous resistance levels, he explains how $2.22 and $2.30 remain short-term hurdles before acceleration. With the current retest, he observes that $1.88 and $1.63 will act as supports if a pullback occurs. Reviewing this timespan setup, he finds confirmation of an impulsive continuation sequence with minimal deviation from historical Elliott patterns.
Additional Viewpoint on Breakout Structure
Crypto Feras offers a secondary technical view, focusing on reclaim behavior near key psychological zones. His analysis identifies the reclaim of $2.00 as a critical event that could lead to a continuation.
Source: Crypto Feras
From the price reaction, he suggests the move may extend toward $2.90 if bullish momentum holds. In analyzing the trend, he identifies $1.50 as a downside invalidation level should the $2.00 reclaim fail. At this stage of the structure, he comments on the deviation setup as a potential rally trigger.
Crypto Feras positions $2.50 as the resistance pivot where continuation strength must build to validate the bullish scenario. His framework complements the larger Elliott Wave roadmap while emphasizing short-term momentum pivots across the breakout zone.
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