Expert Charts XRP’s Price Path to $8.67 – Here’s the Outlook

XRP's market movements lately have been of interest, with analyst Dark Defender sharing insights on its projected trajectory.

Chart analysis by Dark Defender suggests that XRP’s price action is forming a bull flag pattern on the weekly chart. This setup indicates a potential price target of $8.67 if key resistance levels are breached. However, before reaching this milestone, XRP must complete corrections observed in the daily time frame.

According to the analyst, XRP is currently undergoing a corrective period that may be completed in ten days. The token recently surged to $2.17 after finding support at $2.13, indicating strong buyer demand at these prices.

At press time, XRP trades around $2.20. The token has risen by 1.05% over the last day with a trading volume of $5,665,713,575.

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XRP mimics the correction structure, similar to a 4-hour time frame. If true, the correction will be completed within ±10 Days on the daily structure. In Patreon, we have gone through the details and called this a Bull Flag on the Weekly Chart… pic.twitter.com/e3w7LPhWo6

Support and resistance levels remain critical in XRP’s ongoing price structure. On the support side, $2.03, $2.11, $2.13, and $2.17 are crucial areas where buyers are likely to maintain control. XRP’s bounce from $2.13 to $2.17 further reinforces these zones as strong accumulation points.

Conversely, the resistance levels of $2.22 and $2.42 pose immediate challenges to XRP’s upward movement. Breaking through these levels would pave the way for a test at $2.69, a resistance zone aligned with Fibonacci extensions and the upper trendline.

The bull flag pattern highlighted by Dark Defender suggests a bullish continuation in the weekly chart. This formation typically precedes substantial price increases, aligning with the long-term target of $8.67. On the daily chart, Fibonacci retracement levels offer additional insights.

Key Fibonacci levels include the 23.6% level at $2.05, acting as minor support, and the 38.2% level at $2.11, where XRP recently stabilized. Fibonacci extensions at $2.69 and $3.27 mark potential resistance zones if the bullish breakout sustains momentum.

Volume dynamics indicate that XRP is preparing for a major move. Decreasing trading volumes often signal an impending breakout, and a surge in volume could coincide with a move past resistance levels. Market liquidity data also suggests limited selling pressure below current prices, which may support further upward momentum.