XRP is drawing renewed attention after recent price action aligned with a widely followed technical formation. According to market analyst Dark Defender, the token has completed a significant wave pattern on the 4-hour chart, signaling a potential upward move.
The analyst revealed on X that XRP previously surged to $2.59 before pulling back to $2.36, forming what he describes as wave A of a three-wave sequence. This movement aligns precisely with expectations for the first leg of the bullish setup.
Now, attention turns to wave B and the possibility of a strong continuation toward wave C. If the pattern plays out as expected, XRP could rally to a target of $3.3333, suggesting a major breakout may be approaching.
Source: Dark
Support and resistance levels are also playing a critical role in shaping market sentiment. The analyst pointed to key support zones at $2.3502 and $2.2222, which may help absorb selling pressure if short-term dips occur. Resistance is expected near $2.58, a level traders believe could unlock further gains if broken.
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Traders Watch Key Levels as Momentum Builds Toward Breakout
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Market participants are closely watching the $2.55 region as a potential turning point. A solid bounce from this level may indicate that wave B is underway and that a new leg up could soon follow.
Meanwhile, chart analysis continues to show higher lows, a sign that buying pressure remains strong. This supports the idea that XRP’s current consolidation phase could soon give way to a bullish breakout.
At the time of reporting, XRP is trading at $2.42, marking a slight 1.65 percent drop over the past 24 hours. However, trading volume surged to $5.39 billion, up over 30 percent, indicating growing investor interest.
Wave-based analysis remains a favored method for tracking XRP’s potential price movements. With the current market structure showing signs of strength, many traders are positioning for a possible breakout if resistance levels are breached.
As XRP trades near critical levels, the market is closely watching for confirmation of the next wave. A successful move above $2.58 could signal the start of a sharp rally toward $3.33, as predicted in the current technical setup.
Also Read: XRP Set to Explode? Top Analysts Say $5.90 Target Is Now “Inevitable”
