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Market sentiment around the XRP price is flipping bullishas technical indicators and recent chart movements suggest a promising upward trajectory over the next three months. With momentum building, a crypto analyst is now eyeing a potential rally that could push XRP as high as $36.
According to a new prediction postedby crypto analyst Dark Defender on X (formerly Twitter), the XRP price is gearing up for a potentially explosive surgeto $36. XRP Price Forecasted To Reach $36 The chart analysis shows that XRP has broken through a crucial three-month resistance trendline that has capped its price action since its 2018 peak. This breakout signals a powerful shift in market structure, indicating that the long-standing bearish trendmay be over. Related Reading XRP Price Repeating History? 2017-Like Rally To Send Price To $10 6 days ago
Dark Defender’s three-month candlestick chart applies the Elliott Wave Theory, mapping out a five-wave bullish structure. The analysis shows that Waves 1 and 2 have already played out, and XRP now appears to be entering Wave 3, which is typically seen as the strongest and longest wave.
If this Wave 3 pattern holds, XRP could be on the verge of its most powerful rally yet. According to Dark Defender, the upside targetcould reach as high as $36.76, representing a staggering 423.6% increase. Source:Dark Defender on X
Before XRP reaches this projected price level, Dark Defender has forecasted short—to long-term bullish targets for the cryptocurrency. In the short term, XRP could reach $3.33, with a mid-term goal of $5.85.
Additional milestones along the way include key percentage gain levels that may act as interim resistance zones. A 161.8% gain points to a potential price of around $13.81, while a 261.8% surge suggests a move toward $18.96. If momentum continues, the token could push further to $26.87, aligning with a 361.8% increase.
On the downside, support levels at $2.3620 and $2.222 are expected to act as strongholds in case of any retracement before continuation. Moving forward, Dark Defender has doubled down on his bullish stance on XRP’s future outlook, referencing a tweet dated March 17 that boldly declared, “XRP is extremely bullish.” Clear Path Ahead For The Altcoin As Resistance Thins Out
In an X postreleased on May 13, Ali Martinez, a prominent crypto analyst, disclosed that on-chain data from Glassnode shows a clear bullish path for XRP, with no signs of major resistance clusters ahead. The analysis based on the UTXO Realized Price Distribution (URPD) indicates that a significant portion of XRP tokens were last moved at lower price levels. Related Reading XRP Price Macro Channel Breakout That Puts Targets At $17-$55 1 week ago
The chart also highlights a significant support zoneat $2.38, where nearly 1.85 billion XRP, amounting to 2.92% of its supply, were last transacted. This concentration of holders could serve as a psychological and technical support level if the market pulls back. Moreover, the absence of large token holdingsat higher price ranges suggests that the price could experience a smoother ascent, unburdened by major resistance from profit-takers. XRP trading at $2.57 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com