Crypto analyst Dark Defender (@DefendDark) has updated his 108,000 followers on X about the XRP/USD market outlook with a 3-monthly chart. In his latest analysis, he points to an imminent major price movement before the end of this quarter, in other words by the end of September. XRP Price On The Verge Of Ultimate Breakout The chart shared by Dark Defender illustrates a symmetrical triangle pattern, a typical continuation formation where converging support and resistance lines suggest decreasing market volatility and potential for a significant breakout. This pattern is formed by the convergence of a downward-sloping resistance line and an upward-sloping support line. In XRP’s case, the candles are compressing toward the apex of the triangle, suggesting that volatility is decreasing as the market consensus builds strength. This setup is crucial as it implies that the price could make a substantial move once it breaks out of the triangle, either upward or downward. Related Reading: Shiba Inu, XRP Forming Bullish Divergence, Analytics Firm Reveals The chart labels the downward sloping trendline as ‘Ultimate Resistance’. This l ..
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