XRP chart has formed a 'hot cup' pattern, suggesting a potential breakout as tension rises within a compressed technical structure.
Exponential Moving Averages (EMAs) are closely aligned, with price squeezed against a descending resistance trend line. Interaction with the Ichimoku Cloud zone further emphasizes the narrowing range.
Dark Defender's analysis indicates a looming strong directional move, with the 'cup' signaling a likely imminent breakout.
Key levels to watch include support at $2.0706 and short-term targets at $2.22 and $3.61.
The current price near $2.07 support suggests significant upside potential if the trend shifts bullish. A possible 'cup and handle' pattern formation and Fibonacci retracement level alignment hint at a breakout.
The technical setup indicates a decision point approaching with high-stakes tension due to aligned trend lines, Ichimoku signals, and EMAs. A breakout could lead to rapid price movement toward projected targets.