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XRP To Double Digits? Multi-Year Cup And Handle Points To Massive Rally
TL;DR
XRP dropped nearly 8% after failing to break the $1.55 resistance. A market analyst suggests a multi-year Cup and Handle pattern could signal a potential price rally.
Key points
- XRP dropped nearly 8% after failing to break $1.55
- Market analyst highlights a multi-year Cup and Handle pattern
- Pattern indicates significant macro future upside potential
- Cup completed during mid-2025 rally
- Handle formation ongoing since XRP's latest all-time high
After being rejected from the $1.55 barrier on Thursday, XRP dropped nearly 8%, continuing its consolidation below this crucial resistance. Amid this performance, a market watcher highlighted a multi-year pattern that could push the price toward new highs.
XRP Multi-Year Pattern Takes Shape
On Friday, market observer ChartNerd shared a long-term perspective on the XRP price, based on a multi-year formation with “significant macro future upside potential waiting ahead.”
In an X post, the analyst highlighted a Cup and Handle pattern, which has been forming since 2018. The chart below shows that the pattern completed the cup during its mid-2025 rally and has been forming the handle since the altcoin reached its latest all-time high (ATH).
XRP displays a multi-year Cup and Handle Pattern. Source: ChartNerd on X
Based on this, he suggested that XRP “may seek a Gaussian Channel retest to mark a periodic bottom,” as the indicator has been a strong confluence area over the past nine years.
Notably, the cryptocurrency has seen three similar retests within the cup, and also marked the cycle low in 2017. Now, the $0.70-$0.90 area may also mark the handle’s bottom, where the 0.50 FIB level awaits in the same territory as support.
The market watcher has previously explained that a rejection from the $1.60-$1.80 area is likely and will potentially send XPP toward a cycle bottom of $0.70 later in the year, as it marks a prior level of macro resistance that hasn’t been retested yet.
Nonetheless, he affirmed that, regardless of where the macro low is marked, “future FIB extensions await above targeting $8,” with two potential double-digit targets sitting around the $13 and $27 marks.
2,000% Expansion Ahead?
ChartNerd also noted that the potential handle bottom of the Cup and Handle formation aligns with a key multi-year retest inside a fractal. For context, XRP appears to be repeating a setup that led to its massive 68,000% expansion during the 2017-2018 rally.
Q&A
What is the current price trend of XRP?
XRP has recently dropped nearly 8% after being rejected at the $1.55 resistance level.
What is the Cup and Handle pattern in relation to XRP?
The Cup and Handle pattern for XRP has been forming since 2018, indicating potential future price increases.
When is the expected rally for XRP based on the pattern?
The rally for XRP is anticipated to occur after the completion of the Cup and Handle pattern, projected around mid-2025.
