XRP Primed for Breakout: Ichimoku Cloud Signals Imminent Descending Triangle Break
XRP bulls are licking their lips as the Ichimoku Cloud flashes its most bullish setup in months. The sixth-largest cryptocurrency by market cap has coiled inside a descending triangle for weeks—but technicals now scream 'breakout imminent.'
Key levels to watch:
The cloud's twist: Tenkan-sen just crossed above Kijun-sen, a classic bullish reversal signal. Combined with price hugging the triangle's lower boundary, this could spark a 20%+ move if resistance cracks.
Market makers aren't making it easy though. Volume remains anemic—typical of summer trading when hedge fund PMs are more focused on Hamptons brunch reservations than crypto charts.
One thing's certain: When XRP finally picks a direction, it won't be subtle. This is the same asset that once mooned 1,000% in a month... then gave it all back before the coffee got cold.
XRP Price Edges Toward Major Breakout Zone
XRP’s weekly chart, presented by X (formerly Twitter) crypto analyst Dark Defender, is signaling the potential start of a major bullish move as the cryptocurrency approaches the apex of a Descending Triangle formation. After months of consolidation, the price is now testing the upper boundary of this pattern, with momentum building from both price structure and technical indicators.
A key technical factor outlined by Dark Defender is XRP’s current interaction with the Ichimoku Cloud indicator. Recently, the XRP price has begun to break into the lower region of the green cloud—a move that historically precedes bullish trend shifts when confirmed with other technical signals.
The chart also shows XRP maintaining a rounded cup formation that began after the previous corrective structure labeled A-B-C. This cup formation reinforces the cryptocurrency’s bullish case and suggests accumulation over the last several months. As this cup pattern nears completion, XRP is also forming what appears to be the second wave in an impulsive five-wave Elliott sequence.
If the altcoin’s price breaks convincingly above resistance levels at $2.19, $2.22, and $2.33, Dark Defender predicts that the next leg higher could begin immediately, targeting the 161.8% Fibonacci Extension at $3.61. This WOULD mark a significant shift in market structure, confirming the potential end of XRP’s long-standing consolidation and the resumption of bullish momentum.
Interestingly, Dark Defender notes that June and July are expected to be a “hot” period for XRP. The analyst closely watches these months for signs of a breakout confirmation, mainly as XRP trades just above the long-term support zone between $2.07 and $1.88. These levels have held strong through recent dips and also align with the 26.3% Fibonacci Retracement level of the previous cycle.
Path To $5.85 Opens Up
If XRP rallies to $3.61, Dark Defender forecasts that the next phase of the Elliott Wave count suggests that XRP could surge even higher, potentially reaching the 261.8% Fibonacci Extension level NEAR $5.85. This price zone has now emerged as a significant upside target in the current projection, representing the top of a potential Wave 3-4-5 structure.
The analyst’s chart shows Wave 3 of the five-wave impulse structure stretching toward the initial $3.61 target. Once this wave completes, a short-term correction is expected in Wave 4, likely forming a healthy pullback before the final leg higher. The anticipated Wave 5 is projected to be a parabolic move, potentially driving the XRP price to a new ATH around $5.85.
