XRP is on the verge of a potential breakout, with analysts identifying key levels that could push its price to $5.85. As of December 31, XRP is trading within a descending triangle pattern, a formation often associated with major breakouts. Dark Defender analysis highlights the $1.95 level as a crucial support level, indicating that holding this level could lead to a breakout higher. Resistance levels are cited at $2.22, $2.72, and $2.90, with a long-term target at $5.85. Regulatory developments, including the nomination of crypto advocate Paul Atkins as SEC chairman by former President Donald Trump, are seen as positive catalysts. The SEC appeal, scheduled for January 15, 2025, is seen as potentially resolving Ripple Labs’ legal issues. Despite the optimism, XRP faces challenges, including the possibility of a drop below $2 due to market dynamics and increased supply. At the time of writing, XRP is trading at $2.12, down 27% from its high on December 2, but showing a 258% increase since the beginning of the year.