XRP Price Surge Sparks Technical Signals of Potential Regime Change
XRP's price surge in August has led to a confluence of technical signals indicating a potential regime change for the cryptocurrency. According to Dark Defender, a prominent chart analyst, XRP broke above a descending channel that had defined its price action since the 2024-2025 rally peaked at $3.65. This marks the beginning of a new impulse wave, according to Dark Defender.
The technical case for this regime change rests on a completed A-B-C corrective structure, which saw Wave C bottom near $1, coinciding with the lower boundary of the Ichimoku cloud and critical support. The Relative Strength Index (RSI) is now turning upward from recent lows and poised to cross above its signal line.
Dark Defender projects an impulse move targeting Fibonacci extension levels, with the first resistance at $1.88 corresponding to the 161.8% extension. Beyond that, $4.11 marks the 261.8% level, with $7.07 representing the 361.8% extension and the primary objective.
Another analyst, Steph Is Crypto, sees a shorter-term breakout signal in XRP's price action on the 8-hour timeframe. He identifies a bull flag or bull pennant pattern, with the critical level to watch at $1.43. A move above this level would confirm the breakout and set up a short-term target of $2.10.