Crypto analyst Dark Defender has identified a bullish breakout for XRP from a multi-month triangle pattern on its weekly chart. The analyst confirmed the breakout, which has drawn increased attention from traders across major market segments. This technical development aligns with a price target of approximately $2.59, based on Fibonacci extension levels. The key zone for immediate price stability is viewed as the $1.31 to $1.37 Fibonacci retracement area.
Analyst Dark Defender confirmed a breakout from a multi-month triangle pattern on the XRP weekly chart. This development has catalyzed focus among traders across various market segments.
The analyst’s chart marked the 50% and 61.8% Fibonacci retracement levels near $1.31 and $1.37 as a potential stabilization zone. The broader bullish objective is set at the 261.8% Fibonacci extension level, approximately $2.59.
Dark Defender mentioned on social media that “XRP broke the triangle. Another narrative will cause all the bearish scenarios fail.” His statement was direct and reinforced by his analysis of tightening candlestick formations.
The weekly timeframe of this signal is significant as it historically catalyzes stronger follow-through than shorter charts. Dark Defender’s analysis leverages Elliott Wave theory combined with Fibonacci levels.
He previously argued that a shift in market narrative would favor XRP if Bitcoin dominance weakened. Traders frequently return to this breakout analysis as price approaches key levels.
For the $2.59 price target to remain realistic, XRP must hold above its former resistance. The $1.31 to $1.37 zone is now the critical area to watch for support interactions.
