XRP has been showing some serious strength lately, even after its recent dip from its almost seven-year high of over $2.80 (reached on December 3rd). Interestingly, a technical analysis pattern suggests this dip was just a temporary setback.
The ABC Pattern: A Sign of Things to Come?
Crypto analyst Dark Defender sees an “ABC corrective pattern” in XRP’s daily chart. This pattern, common during periods of consolidation, usually precedes a big move in the main trend. The A and C waves were downward corrections, while wave B saw a price increase. All this movement stayed below a key resistance line.
Now, XRP is looking ready to break through that resistance. According to Dark Defender, the ABC pattern is almost complete. A break above $2.52 would confirm this, potentially within the next 24 hours.
The Road to $5.85 and Beyond
If this breakout happens, Dark Defender predicts a two-stage rally.
Stage 1: Reaching $5.85
The first target is $5.85, based on a Fibonacci extension indicator. Hitting this price would mean surpassing XRP’s all-time high of $3.40 and pushing its market cap over $1 trillion (from its current $244 billion).
Stage 2: Aiming for $18.22
Breaking through $5.85 could trigger a much larger rally, potentially all the way to $18.22.
In short: XRP is currently trading around $2.44 (up about 5% in the last 24 hours). Reaching $5.85 would be a 140% increase, while hitting $18.22 would represent a massive 645% jump. While ambitious, this bullish outlook is based on a specific technical analysis pattern./p>
