XRP Rally Breaks Trendline, Top Trader Sets $5.85 and $8.76 Targets

XRP broke out on the 4-hour chart after two weeks of consolidation. Technical analyst Dark Defender has analysed and updated data to confirm this as a bullish momentum.

The breakout occurred as XRP broke through a key descending trendline that had suppressed its price since it touched $2.87 on December 4. The latest move is further supported by a bullish signal on the Ichimoku Cloud and an RSI Golden Cross, which indicates growing buying strength.

XRP Price Targets After Breakout Confirmation

According to Dark Defender, XRP’s next step is securing a daily close above $2.52 for further confirmation. If this happens, the token’s price will likely head for $2.72 in the near term, with longer-term targets of $5.85 and $8.76.

As of this writing, some of these conditions have been met. XRP traded at $2.72 today after a 15% price jump. It is now at $2.69. With this level reached, XRP could head for $5.85 next, according to Dark Defender.

Notably, from XRP’s floor price, reaching $5.85 would require a surge of 117%. Considering that XRP soared by around 500% from $0.49 to above $2 in recent weeks, the move to $5.85 might not be that hard. From there, XRP holders could see $8.76, which would mean a 226% rise from current levels.

XRP Support Levels in Case of a Pullback

Dark Defender also highlighted key support zones to watch if the bull run loses steam. These levels include $2.29, $2.24, $2.10, and $2.02, providing a safety net should XRP face a retracement.

Ultimately, this breakout could be the turning point for XRP. Technical indicators suggest a possible bullish rally. Investors are waiting for confirmation above key resistance levels to see if the rally will continue.

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