XRP Poised for Surge to New All-Time High, Analyst Suggests

A new analysis by crypto market expert Dark Defender suggests that XRP may have found a bottom and is ready to reverse its downtrend towards a new all-time high. The expert points to three technical signals that support his bullish thesis: the completion of XRP's corrective wave C structure, a triangle breakout, and a Relative Strength Index (RSI) bullish cross.

According to Dark Defender's analysis, XRP has completed its ABC corrective pattern, with wave A marking an initial high followed by a sharp sell-off, and wave B unfolding as a strong recovery rally. Wave C represents the final and most significant phase of the correction, which is shown as a classic five-subwave impulse decline that has now fully played out.

The chart also shows that XRP's price had compressed inside a bearish triangle throughout its corrective phase. However, Dark Defender notes that XRP has now broken above the upper resistance trendline of this triangle, signaling the end of its compression phase and the potential beginning of a new uptrend.