Can XRP’s Cup & Handle Pattern Defy Short-Term Chaos?
Main Idea
XRP's price movement and potential surge to $7 is analyzed based on technical patterns, market momentum, and institutional support.
Key Points
1. XRP has been trading in a tight $3.00–$3.23 range, with a recent liquidity sweep causing a drop to $3, which may set the stage for a rise to $7.
2. A cup-and-handle pattern on the weekly chart suggests a bullish signal, with XRP forming a rounded cup from $1.80 to $3.65 before consolidating below $3.40.
3. XRP surged nearly 92% from $1.95 to $3.66 before correcting to around $3.16, with analysts viewing the pullback as a natural reset.
4. Institutional support includes a $130 million blockchain initiative by Brazilian fintech VERT and $20 million in XRP added to Nature’s Miracle’s corporate treasury.
5. On-chain metrics show robust activity, with daily ledger volume exceeding $1.4 billion, and a breakout above $3.40 could propel XRP toward the $7 target.
Description
Will a Price Surge to $7 Materialize? XRP has been trading in a tight $3.00–$3.23 range over the past two days due to profit-taking at resistance, altcoin sentiment drag, derivative unwinding, and low exchange liquidity. The world’s third-largest cryptocurrency saw a sharp $18B liquidity sweep yesterday, plunging price to the $3 mark, triggering stop-losses and flushing out weak hands. Nevertheless, all hope is not lost because the formation of a cup and handle pattern might catapult XRP to the ...
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