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XRP Technical analyst Dark Defender: Key patterns appear on the daily chart of XRP, and breakthroughs may be in the direction within 24 hours.
Technical analysis expert "Dark Defender" identified a decisive technical pattern on the daily chart of XRP, pointing out that the upcoming breakthrough may define the next key trend of the cryptocurrency. At the time of analysis, XRP was trading at approximately US$1.52, which was in the vicinity of a key technical form.
Symmetric triangles signal next move
XRP rebounded sharply from the fifth-wave low of $0.9852 and peaked near $1.6992, marking a significant price movement at the end of August. This initial rise was classified as Wave 1, and prices subsequently pulled back into the $1.30 area to form Wave 2. Subsequent price movements compress within convergent trend lines, forming a symmetrical triangle on the chart. Currently, asset orthogonality facilitates the apex position of the triangle, and it is expected that the next 24 hours will play a decisive role in the subsequent direction.
Symmetric triangles are a common technical form and are often seen as the price consolidation period before a breakthrough. This pattern of XRP has experienced a sequence of lower highs and higher lows, and the recent rally has pushed prices closer to the upper boundary of the triangle, but has not yet achieved a sustained breakthrough.
Explanation of terminology: A symmetrical triangle, a chart pattern composed of convergent trend lines with higher lows and lower highs, usually indicates a consolidation period before a breakthrough or decline.
Key price levels and technical indicators
Dark Defender's graphical analysis maps important Fibonacci retracements and expansions. Notable support levels include the 50.00% retracement level of $1.2939, the 61.80% retracement level of $1.3798, and the 70.20% retracement level of $1.4445. Immediate resistance is aligned with the 85.40% Fibonacci level of $1.5692, while a further upside target points to the 161.80% expansion of $1.8815. Once the triangle breaks through, XRP is expected to rise nearly 24% towards this upper target.
The chart also highlights the Relative Strength Index (RSI) at 58.11, which is still in the neutral range. After exceeding 70 in previous surges, the RSI has cooled down and is currently neither overbought nor oversold. As the RSI tests its signal line from below, a bullish cross occurs, which is often seen as a confirmation of increased bullish momentum.
XRP is currently located at the apex of the symmetrical triangle and is challenging the 85.40% Fibonacci resistance level. If prices clear nearby resistance levels, the likelihood of moving towards $1.8815 will increase significantly.
Dark Defender强调了当前阶段的关键性质，将其描述为市场的“24小时决策时刻”。突破蓝色趋势线将为新的上升趋势铺平道路，而跌破三角形下支撑位则将否定看涨前景。市场将密切关注1.5692美元和1.6992美元的阻力位，以确认任何看涨突破。
Dark Defender是一位独立加密分析师，以其在社交媒体上的技术图表解读和XRP评论而闻名。如果XRP保持在趋势线支撑之上且动能保持正面，下一个交易日可能会决定该资产是继续上行还是开始新的回调。
