XRP Price has continued its upward trend despite being in a downtrend since hitting $2.8 on December 3 for the first time in nearly seven years.

What is interesting is Technical analysis shows that the downtrend is highlighted by the ABC correction pattern on the daily candlestick chart. As a result, XRP price appears to be preparing for a breakout of new all-time highs above $5.8 and as high as 18.22. dollar

Despite entering a corrective phase after surpassing $2.8 on December 3 for the first time in nearly seven years, XRP continues to exhibit remarkable strength.

Technical analysis reveals a developing ABC corrective pattern on the daily candlestick chart, indicating XRP's preparation for a breakout to new all-time highs.

After holding above $2 since early December, technical analysis by crypto analyst Dark Defender suggests that XRP's corrective phase has manifested in three waves, designated as A, B, and C.

Commonly observed during consolidations preceding a continuation of the primary trend, the ABC corrective pattern is characterized by three corrective waves. In this case, waves A and C are downtrend corrective waves, while B is an upward move.

According to the analysis, these up-and-down movements have remained within a daily resistance trendline. Over the past two days, XRP's price movements have been largely bullish, with the cryptocurrency now poised to break above the daily resistance trendline.

Highlighting XRP's proximity to completing the ABC corrective wave pattern, Dark Defender indicates that confirmation hinges on XRP breaking through a critical resistance level at $2.52.

Recent XRP price movements suggest that this break is expected to occur within the next 24 hours, potentially marking the beginning of a new bullish phase with an initial target of $5.85.

Following the anticipated breakout, Dark Defender outlines a two-stage price trajectory for XRP. The first significant resistance zone is at $5.85, which aligns with a target identified by the Fibonacci extension indicator.

To reach the $5.85 price level, XRP must rally past its current all-time high of $3.40, which has stood as the longest-running ATH among cryptocurrencies.

If XRP reaches $5.85, its market cap would cross the trillion-dollar threshold from its fully diluted value of $244.03 billion at the time of writing. However, the analyst anticipates that breaking past $5.85 could lead to an extended rally toward $18.22.

At the time of writing, XRP trades at $2.44, up about 5% in the past 24 hours. From the current price level, reaching the $5.85 and $18.22 price targets would indicate an increase of 140% and 645%, respectively.