Crypto analyst Dark Defender, has shared a bullish technical outlook for XRP following a recent weekly chart breakout from a triangle pattern.
According to the analysis, XRP has successfully broken out of a long-forming symmetrical triangle on the weekly timeframe. In technical analysis, this type of breakout is often considered a strong signal of potential upward momentum, especially when confirmed on higher timeframes like the weekly chart. Dark Defender suggests that this breakout could open the path for a price move toward $2.59, which is being highlighted as the next key target level.
The analyst also pointed out that if XRP continues to hold above its previous resistance zone—now acting as support—the bullish structure remains valid. Maintaining this level is seen as crucial for sustaining upward momentum and avoiding a potential reversal back into consolidation.
In addition, Fibonacci retracement levels are being closely watched as possible support areas during any short-term pullbacks. Specifically, the $1.31 and $1.37 range has been identified as important support zones. If the price experiences a retracement, these levels could act as a strong cushion where buying interest may return.
Overall, the outlook remains cautiously bullish. The breakout from the triangle pattern signals strengthening market structure, while the combination of Fibonacci support levels and resistance-turned-support zones provides a technical framework that could support a continued move toward the projected $2.59 target, provided broader market conditions remain favorable.