XRP’s latest daily chart has sparked renewed speculation in the crypto space after a rarely seen pattern appeared just under a significant resistance zone. According to crypto analyst Dark Defender, the asset printed what he describes as a “Silent Candle,” highlighting a near-standstill in price movement across a full trading day.
The unusual candle emerged directly beneath a long-standing descending resistance trendline. This price stagnation, even after the wider market movements, is an indication of a rare stasis between the bulls and the bears.
Technical indications suggest that the asset is at a turning point, as shown in Dark Defender’s chart, which displays the Ichimoku Cloud depicted by a thick cluster of resistance positioned close to XRP.
This trend indicates that any breakout effort will be met with immediate selling unless it is done with huge volume.
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Source: Dark Defender
Fibonacci levels are also playing a critical role. The price of XRP is currently at the 61.8 percent retracement level at 2.1958, while the next resistance level lies at the 70.2 percent level around 2.2895.
These areas are under constant observation by traders seeking conviction for a trend.
Traders React as Market Awaits Decisive XRP Breakout
Adding to the technical setup, the Relative Strength Index is flattening along a descending trendline, reflecting reduced momentum. A green circle on the chart highlights this critical point, while another one marks the silent candle’s position, both indicating that the market could be gearing up for a larger swing.
The community’s reactions to the chart have contributed to the emerging tension. An X user named Eric believes the muted movement signals large holders’ positioning for a significant price event. He forecasts XRP will climb to $2.35 by Friday and reach $5 by the end of July.
Trader CryptoTiger 589 further added that XRP volume had declined drastically. He referred to the present situation as the calm before the storm, where the price has been stuck in a tight range over several days.
Although the candle looks quiet, the underlying technical background indicates that a surge could be on the horizon. If XRP surges above the crucial resistance level, it may trigger the bullish forecasts. A failure, however, can send the price back down to cheaper Fibonacci supports.
XRP’s silent price action under a major resistance line has created a pivotal moment for traders. As indicators tighten and volume drops, the market watches for a breakout or breakdown. The mysterious “Silent Candle” could be the signal that a significant move is just around the corner.
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