XRP on the Brink of a Breakout: Targets Set at $3.62 & $4.55

• XRP shows signs of an upward rally as it targets $3.62 and $4.55, faced by bullish strength
• Fibonacci levels and wave patterns confirm XRP’s imminent potential for another major price climb
• XRP’s support at $2.88 and momentum above the cloud signal an exciting bullish opportunity.

XRP’s price action has captivated the market again, as prominent analyst Dark Defender presents a compelling Elliott Wave structure on the 4-hour chart. The cryptocurrency recently completed its initial ABC correction phase, paving the way for a potential breakout. According to the analysis, XRP is poised to surge toward short-term targets of $3.62 and $4.55, with the 261.8% Fibonacci extension providing a key marker at $3.62.   

These levels represent milestones, especially as the token sits comfortably above the Ichimoku cloud, signaling sustained bullish momentum.

Elliott Wave Analysis Points to an Explosive Move

The chart reveals that the positive trajectory aligns perfectly with the classic 5-wave Elliott Wave structure. Following an initial impulsive move in Wave 1, the token underwent a corrective pullback in Wave 2, setting the stage for Wave 3, which propelled XRP to a high of $3.40. 

After completing its third wave, XRP entered a brief consolidation phase marked by an ABC correction. This phase will likely conclude with Wave 4, forming a base near the 161.8% Fibonacci level at $2.88. With this structure intact, XRP’s next leg up, Wave 5, could push prices beyond $3.62 and test the critical $4.55 resistance.

Fibonacci and Ichimoku Indicators Reinforce the Trend

Dark Defender’s analysis leans heavily on Fibonacci projections, which suggest precise price targets. The 161.8% Fibonacci extension has acted as a reliable support zone during the consolidation, while the 261.8% extension at $3.62 indicates a key resistance level for the next rally. 

Coupled with the Ichimoku cloud analysis, XRP’s bullish case strengthens further as the token remains well above this technical indicator, which historically signals strong upward momentum. These metrics collectively suggest that XRP is primed for a significant breakout in the coming sessions, provided external market conditions remain supportive.

Related: XRP Soars to Seven-Year Peak Amid ETF Buzz and New US Policy Shifts

What Lies Ahead for XRP?

With technical indicators backing the bullish case, XRP traders should closely monitor its ability to breach the $3.40 resistance. The presented roadmap highlights $3.62 as the immediate target, with $4.55 as the next logical milestone if buying pressure persists. 

However, completing Wave 5 will be critical in determining whether these targets are met or exceeded. As momentum builds, traders are advised to remain cautious and vigilant, as corrections are inherent to such bullish patterns. For now, XRP’s trajectory reflects a high probability of hitting these ambitious targets, offering potential for market participants.

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