Can XRP’s Cup & Handle Pattern Defy Short-Term Chaos?
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 $7 price zone, according to market analyst CryptoBull.
The analyst argues that if XRP confirms a cup‑and‑handle breakout, the token could be headed for the $7 price zone, and here’s why that matters.
1. The Cup‑and‑Handle Setup: A Classic Bullish Signal
On the weekly chart, XRP has carved a rounded cup from roughly $1.80 in late 2024, climbing to a new all-time high (ATH) of $3.65 before entering a consolidation phase beneath approximately $3.40, forming the handle on the chart formation.
CryptoBull’s analysis shows this structure is ripe because the measured move, including cup depth and breakout level, predicts a move above $7 once a volume-backed breakout occurs.
2. Strong Momentum and Healthy Retracement
XRP surged nearly 92% in a matter of weeks, climbing from approximately $1.95 to $3.66 before correcting down to around $3.16 during broader market weakness.
Analysts including XRPunkie and Vincent Van Code view the pullback around 10% as a natural reset, emphasizing that recovering above the $3.30–$3.40 zone would validate further upside.
3. Institutional Momentum and On‑Chain Strength
Fundamental support is building. Brazilian fintech VERT recently launched a $130 million blockchain initiative on the XRP Ledger, while Nature’s Miracle added $20 million in XRP to its corporate treasury during the dip depicts serious institutional conviction.
On‑chain metrics are also robust, with daily ledger volume exceeding $1.4 billion and outstanding derivatives open interest nearing $11 billion
4. Key Levels to Watch
Resistance zone: A decisive breakout between $3.30 and $3.40 would validate the handle and trigger the move toward $5 initially, and potentially $7 as the measured target.
Support zone: If XRP falls back below the psychological price of $3.00, it risks retesting lower support near $2.70 or $2.20.
5. How CryptoBull’s Projection Compares
While institutional forecasts more conservatively center around $5.00–$5.50, CryptoBull’s target for $7 sits on the high end of technical expectations.
It doesn’t rely on overly optimistic price models because it’s rooted in a textbook continuation pattern supported by volume, momentum, and favorable fundamentals.
At the time of this writing, XRP was trading at $3.08, representing a 1.2% increase in the past 24 hours, according to CoinGecko data.
Conclusion
XRP’s choppy behavior between $3.00 and $3.23 reflects a market in wait-and-see mode because traders are hesitant to go all in until a breakout confirms the next major trend.
If volume backs a breakout above $3.40, the cup & handle’s $7 target becomes achievable particularly in the context of broader altcoin strength, growing institutional participation, and resilient on‑chain metrics.
Read More
Can XRP’s Cup & Handle Pattern Defy Short-Term Chaos?
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 $7 price zone, according to market analyst CryptoBull.
The analyst argues that if XRP confirms a cup‑and‑handle breakout, the token could be headed for the $7 price zone, and here’s why that matters.
1. The Cup‑and‑Handle Setup: A Classic Bullish Signal
On the weekly chart, XRP has carved a rounded cup from roughly $1.80 in late 2024, climbing to a new all-time high (ATH) of $3.65 before entering a consolidation phase beneath approximately $3.40, forming the handle on the chart formation.
CryptoBull’s analysis shows this structure is ripe because the measured move, including cup depth and breakout level, predicts a move above $7 once a volume-backed breakout occurs.
2. Strong Momentum and Healthy Retracement
XRP surged nearly 92% in a matter of weeks, climbing from approximately $1.95 to $3.66 before correcting down to around $3.16 during broader market weakness.
Analysts including XRPunkie and Vincent Van Code view the pullback around 10% as a natural reset, emphasizing that recovering above the $3.30–$3.40 zone would validate further upside.
3. Institutional Momentum and On‑Chain Strength
Fundamental support is building. Brazilian fintech VERT recently launched a $130 million blockchain initiative on the XRP Ledger, while Nature’s Miracle added $20 million in XRP to its corporate treasury during the dip depicts serious institutional conviction.
On‑chain metrics are also robust, with daily ledger volume exceeding $1.4 billion and outstanding derivatives open interest nearing $11 billion
4. Key Levels to Watch
Resistance zone: A decisive breakout between $3.30 and $3.40 would validate the handle and trigger the move toward $5 initially, and potentially $7 as the measured target.
Support zone: If XRP falls back below the psychological price of $3.00, it risks retesting lower support near $2.70 or $2.20.
5. How CryptoBull’s Projection Compares
While institutional forecasts more conservatively center around $5.00–$5.50, CryptoBull’s target for $7 sits on the high end of technical expectations.
It doesn’t rely on overly optimistic price models because it’s rooted in a textbook continuation pattern supported by volume, momentum, and favorable fundamentals.
At the time of this writing, XRP was trading at $3.08, representing a 1.2% increase in the past 24 hours, according to CoinGecko data.
Conclusion
XRP’s choppy behavior between $3.00 and $3.23 reflects a market in wait-and-see mode because traders are hesitant to go all in until a breakout confirms the next major trend.
If volume backs a breakout above $3.40, the cup & handle’s $7 target becomes achievable particularly in the context of broader altcoin strength, growing institutional participation, and resilient on‑chain metrics.
Read More