XRP Nears Crucial Juncture; Analyst Predicts Bullish Breakout

XRP, the native cryptocurrency of the Ripple network, has once again captured the attention of analysts and investors alike, as it approaches a critical juncture that could determine its near-term trajectory. Crypto analyst Dark Defender (@DefendDark) recently shared his technical analysis of XRP, highlighting the significance of the current resistance levels and the potential for a breakout if the asset can rise above these key barriers.

Dark Defender's analysis, supported by a detailed price chart, suggests that the price action and relative strength index (RSI) patterns favor a bullish continuation for XRP. In a recent tweet, the analyst noted that XRP has reached another decision point where the $2.6052 level plays a crucial role. If XRP can rise above this level and significantly above $2.77, the second leg of the bullish weekly structure is expected to continue.

The chart accompanying Dark Defender's post illustrates a descending trendline that has limited XRP's upside for an extended period. However, the asset's decline in early February began a symmetrical triangle formation, and its price has consistently formed higher lows since then, signaling growing bullish pressure. As XRP approaches a decision point, price action must break above resistance or risk retracement. Dark Defender identified the $2.6052 as crucial to kickstart the next rally, with climbing above $2.77 confirming the bullish structure and leading to further gains.

A closer look at the RSI reveals a similar trend. The RSI has been forming higher lows despite a downward trendline, suggesting that momentum is building for a potential upside move. The resistance trendline on the RSI chart mirrors the price action, reinforcing the likelihood of a breakout if the RSI and price breach their respective resistance levels.

Dark Defender emphasizes that maintaining price action above $2.60 is essential for confirming a bullish move. Should XRP hold above this level, the next significant resistance is at $2.85. Beyond that, the analyst identifies $5.85 as a major long-term target, aligning with the broader bullish structure that has been developing. Dark Defender has often drawn attention to the $5.85 target, and sustained momentum following the expected breakout above $2.77 would push the asset to this target.

At press time, XRP traded at