XRP Traders Watch Gaussian Retest as $8 Fib Target Emerges
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Analyst ChartNerd says XRP may be forming a multi-year cup-and-handle pattern beneath an eight-year resistance, indicating a larger consolidation with Fibonacci extension targets above the current range. The crypto token trades at $1.4494 (-2.39% over 24 hours) and shows strong market activity with $6.44B in futures volume, $1.36B in spot volume, $3.01B in open interest and an $89.31B market cap, signaling robust derivatives interest despite the short-term pullback.
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- Analyst ChartNerd said XRP may be forming a multi-year cup and handle below 8 years of resistance.
- The analyst marked a possible Gaussian channel retest as the handle continues forming.
- At the time of writing, market data showed XRP trading at $1.4494, down 2.39% in 24 hours.
XRP is again drawing attention after ChartNerd pointed to a possible multi-year cup and handle forming below an 8-year resistance zone. The setup suggests that XRP’s long consolidation may still be building a larger macro structure, with future Fibonacci extensions sitting above the current range.
At the time of writing, market data showed XRP trading at $1.4494, down 2.39% over 24 hours. The token also showed $6.44 billion in futures volume, $1.36 billion in spot volume, $89.31 billion in market value, and $3.01 billion in open interest.
XRP Cup and Handle Setup Builds
ChartNerd said …
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