XRP Falling Wedge Signals October Breakout: $5.85 Target

According to a recent analysis by Dark Defender, a well-known XRP analyst, the cryptocurrency has been consolidating within a distinct Falling Wedge pattern throughout July and September. This technical formation is typically viewed as a bullish continuation pattern, often preceding a significant upward breakout. The analysis highlights that XRP has consistently respected a crucial support trendline, illustrated in orange on the chart, which has held firm around the $2.85 level. This resilience comes despite the token facing rejection near the $3.13 resistance mark, indicating a battle between buyers and sellers at these key psychological levels.

Adding weight to the potential for a reversal, Dark Defender points to the Relative Strength Index (RSI) edging closer to oversold territory. In technical analysis, an RSI reading nearing oversold conditions can signal that a selling exhaustion is imminent, potentially paving the way for a price rebound. The analyst insists that despite the prevailing market skepticism, the underlying bullish structure for XRP remains intact. He interprets the widespread disbelief as a contrarian indicator, suggesting that many investors could be caught off guard by an impending surge.

Building on the technical setup, Dark Defender has outlined three specific price targets for XRP, projecting a potential breakout by October. These targets are derived from Fibonacci Extension zones, a tool used to forecast potential support and resistance levels. The first target is set at $4.17, corresponding to the 261.8% Fibonacci level. The second target is more ambitious at $4.92 (361.8%), while the most optimistic projection reaches $5.85 (236.8%). To mitigate downside risk, the analysis identifies strong support bases at $2.80 and $2.64, which are expected to provide a foundation for the anticipated upward move.

Dark Defender reinforces his bullish case by asserting that XRP’s true rally has not yet begun. This perspective is particularly notable given the asset’s already impressive performance in 2025. Data from CoinMarketCap shows XRP has gained 384% Year-to-Date, a surge fueled by increasing demand, rumors of a potential XRP ETF, and renewed market confidence following the conclusion of the long-running Ripple-SEC lawsuit. Having reached a high of $3.65 this year and trading just over 5% below its former all-time high of $3.84, the recent pullback below $3 is framed not as a weakness, but as a necessary consolidation phase within a larger bullish wave.

The analyst’s chart analysis suggests that XRP is nearing the end of a corrective ABCDE consolidation phase. He posits that a decisive reclaim of the $3.33 level could act as a critical catalyst, potentially paving the way for a move toward double-digit prices. This view positions the current period of price compression within the Falling Wedge as a potential launchpad for the next significant leg higher in XRP’s market journey.

The optimistic outlook for XRP arrives amidst a complex backdrop for the cryptocurrency. The resolution of the Ripple-SEC lawsuit has removed a significant overhang of regulatory uncertainty, which has been a key factor in renewing investor confidence. Furthermore, persistent rumors regarding the potential launch of an XRP-specific Exchange-Traded Fund (ETF) continue to circulate, adding a layer of speculative demand to the market fundamentals.

Dark Defender’s analysis, therefore, combines short-term technical patterns with longer-term fundamental drivers. The Falling Wedge pattern provides a tactical framework for the expected October move, while the post-lawsuit environment and ETF speculation underpin the broader bullish narrative. For market participants, the key levels to watch are the support at $2.85, the resistance at $3.13 and $3.33, and ultimately, the Fibonacci-derived targets that define the analyst’s ambitious forecast for XRP.