Dark Defender is optimistic about XRP's imminent breakthrough, with a target price looking as high as $5.85.

Well-known Ripple (XRP) technical analyst Dark Defender recently pointed out that the upward momentum of XRP is "almost unstoppable." Against the backdrop of technical and fundamental resonance, he has set target prices at $2.50, $2.90, and $5.85 respectively, believing that once it breaks through the key resistance level, XRP will usher in a new round of price discovery.

Technical Analysis: Breakthrough Structure and Fibonacci Target

(Source: Trading View)

Current price: 2.98 USD, market cap approximately 175 billion USD

Structure: The daily chart shows that XRP has broken through the descending resistance line and completed the retest, which belongs to the classic "breakout-retest" pattern.

Fibonacci targets: $3.35, $4.39, $5.86

Momentum Indicator: RSI continues to rise, and if the trading volume simultaneously increases, it will confirm the validity of the breakout.

Dark Defender emphasizes that if the daily closing price stabilizes above the resistance line, accompanied by an increase in trading volume, it will be a strong signal for the bullish market to start.

Fundamentals: Ecosystem and Institutional Adoption as Dual Drivers

In recent months, XRP has been continuously expanding in infrastructure and application scenarios:

Institution Adoption: Major custodians and exchanges enhance XRP liquidity

Cross-border payments: Financial technology companies accelerate the deployment of XRP Ledger as a low-cost settlement network

RLUSD Launch: The stablecoin RLUSD, set to be released in December 2024, enhances ecosystem liquidity.

Cross-chain interoperability: Integrating with protocols like Axelar to accelerate asset cross-chain flow.

DeFi and NFT: New Protocols and Tokenization Platforms on XRPL Increase Network Usability

Analyst Consensus: Mid-term Target in the 5-7 Dollar Range

Egrag Crypto: If the current technical structure plays a role, XRP is expected to pump to 5-7 dollars in the medium term.

Ali: Historical fractals show that once the main resistance is broken, XRP can pump by hundreds of percentage points, and 6 dollars is a realistic target.

Gordon: Bullish on XRP entering a significant price discovery phase

These views resonate with Dark Defender's Technical Analysis, reinforcing the market's expectations for a medium to long-term pump.

Insights for Traders

Positioning Strategy: Wait for a breakout above the resistance level accompanied by increased trading volume before actively entering the market.

Risk management: enter in batches, set stop losses, take profits in stages

Key Observations: Daily closing price, changes in trading volume, macro market sentiment

Conclusion

The analysis from Dark Defender shows that XRP is at a crucial moment where technical structure and fundamental benefits are highly aligned. With the expansion of the ecosystem, accelerated institutional adoption, and a warming market sentiment, XRP may be on the verge of an opportunity to unleash significant upward potential. The price trend in the coming weeks will determine whether this "unstoppable" surge can materialize.