XRP Forming a Cup & Handle Pattern, Analyst Sets Next Stop
Main Idea
XRP is forming a bullish cup & handle pattern, with analysts predicting a potential breakout to $4.00, supported by technical and macroeconomic factors.
Key Points
1. XRP is showing a classic bullish cup & handle pattern, with a projected price target of $4.00.
2. The cup formation began around July 17, with the price bottoming near $3.32 before rising toward $3.66.
3. XRP is currently trading at $3.56360, with immediate resistance at $3.66676.
4. Macro factors, such as Bitcoin and Ethereum's stability, are fueling optimism for XRP's rally.
5. A decisive move above $3.66 could confirm the breakout, while failure may lead to a retest of support zones around $3.40–$3.50.
Description
XRP is flashing a classic bullish signal that could pave the way for a major breakout. According to a recent analysis shared by XRPunkie on X, the cryptocurrency is forming a Cup & Handle pattern, a technical setup that often precedes a strong upward move. Based on this formation, XRP’s next price target is set at $4.00. Bullish Chart Pattern in Focus The Cup & Handle pattern is one of the most reliable technical indicators in market analysis. It consists of a rounded bottom (“cup”) followed by ...
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