XRP News Today: XRP Poised for 1150% Surge to $23 as Bullish Pattern Nears Completion

XRP, the native cryptocurrency of Ripple, is poised for a significant price movement as a multi-year technical formation nears completion, according to market analyst Dark Defender. The analysis suggests that XRP is set for a bullish breakout with long-term potential, supported by historical chart structures and Fibonacci projections.

Dark Defender presented a monthly XRP chart highlighting a large technical pattern resembling a cup-with-handle formation, which traditionally indicates bullish continuation if confirmed. The price target between the base of the cup and rim suggests a surge from $1.88 to about $23. The analyst emphasized that the convergence of multiple technical signals points to a major upside resolution.

Central to Dark Defender’s thesis are Fibonacci extension levels, which he used to identify potential price targets based on XRP’s historical trading patterns. The analysis specifies Fibonacci levels at 261.8% and 361.8% extensions, corresponding to potential price targets of $5.85 and $18.22, respectively. Fibonacci extensions are a common tool in technical analysis, designed to forecast possible areas of resistance or support during trending markets.

XRP recently broke through a key downward trendline, marked in orange on the chart. A decisive break of this neckline resistance, if sustained, could unlock the pressure needed to drive prices significantly higher, toward the $23 mark. However, analysts caution that breakouts need confirmation with volume and follow-through. Until there is sustained trading above resistance with strong participation, the risk of a failed breakout remains.

At the time of writing, XRP trades near $2.26, holding just above its recent breakout point. If buyers maintain control and the asset stays above the trendline, Dark Defender’s Fibonacci targets could become realistic mid- to long-term objectives. Whether XRP will deliver on this bullish technical promise will likely depend on broader crypto market sentiment and Ripple’s ongoing regulatory clarity.

Renewed institutional interest in XRP products adds credibility to the bullish technical setup. The convergence of technical signals and institutional interest suggests that XRP is ready for a significant price movement, with potential long-term targets of $5.85, $18.22, and $23 according to the analyst's forecast.