Market analyst Dark Defender says XRP bull flags since 2015 signal a major breakout ahead, arguing that the market has not seen anything yet.
Notably, between May 21 and May 27, XRP’s price fluctuated within a narrow range, moving from about $2.33 to a high near $2.47. The asset experienced a notable mid-week drop, falling sharply from just below $2.45 to a low around $2.30.
Following this decline, XRP attempted a rebound but settled at $2.31 by the end of the week. This price action highlights ongoing volatility within a broader consolidation phase.
Bull Flag Pattern Indicates Potential for Breakout
Amid the consolidation, renowned analyst Dark Defender recently highlighted a significant long-term technical pattern on XRP’s chart—a bull flag that has been developed several times since 2015.
The pattern begins with a strong upward price movement, known as the flagpole, followed by an extended period of consolidation resembling a downward or sideways-sloping flag. Notably, the pattern suggests a potential continuation of the upward trend once a breakout occurs.
Historically, XRP formed its first major bull flag starting in 2017. At that time, the price consolidated near $0.0054 before surging above $0.2 to complete the flag formation. The breakout that followed propelled XRP to an all-time high of $3.5 in January 2018. After this, a prolonged consolidation phase confirmed the pattern through 2020.
XRP Gearing For Further Upside
More recently, XRP established a second flagpole after consolidating below $0.6 and then surging to $3.3 in January 2025. After this high, the bull flag formed and has persisted amid the ongoing consolidation. Although the breakout hasn’t happened yet, it suggests that XRP may be gearing up for a substantial upward surge.
Dark Defender’s view indicates that XRP’s market potential remains largely untapped. This technical formation signals a buildup of momentum, often leading to rapid and significant price surges once resolved. Essentially, XRP could be gearing up for a move that many current investors have yet to experience.
Breakout Signs Emphasized by Analyst Poseidon
Meanwhile, market analyst Poseidon has shared insights into XRP’s price behavior amid ongoing consolidation. Data from Poseidon’s chart shows that XRP has traded primarily between $2 and $3 during this phase.
The $3 level has acted as resistance, while the $2 mark serves as support. XRP has occasionally pushed beyond these levels but faced swift price corrections that returned it to the range.
Poseidon identifies three technical signals supporting a possible bullish breakout: a failed breakdown below support, reclaiming the 200 Exponential Moving Average (EMA) on the 12-hour chart, and a recent higher high formed when XRP reached $2.36 on May 26.
Additionally, Poseidon points to a descending trendline restricting price action since the May 12 high of $2.6. For a confirmed breakout, XRP must surpass $2.4 to break this trendline.
If the breakout occurs, Poseidon’s price target is $4, which would require about a 73% increase from XRP’s current $2.31 level.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
