XRPUSDT – Double Bottom + Cup and Handle Pattern Signaling Bullish Reversal
The XRPUSDT 6H chart is showing strong signs of a potential bullish reversal. After a prolonged downtrend, price appears to have formed a double bottom near the key demand zone at 2.30 – 2.25, which is also the base of a developing Cup and Handle pattern.
✅ Key Analysis Points:
• Double bottom formation around the 2.30 level indicates strong buying interest and rejection of lower prices.
• The overall price structure is forming a Cup and Handle, a classic bullish continuation pattern.
• Clear CHoCH (Change of Character) confirms bullish momentum and possible trend reversal.
• Price is currently consolidating in the handle region with a potential breakout toward the 2.65 resistance zone (marked as “Weak High”).
• Trend model suggests a bullish trend supported by machine learning and optimal trend-following metrics.
📌 Confluence Factors:
• Demand zone support around 2.25–2.30
• Multiple CHoCH signals reinforcing bullish control
• Structure alignment with the Cup and Handle formation
• Parabolic move projection toward upper resistance area
🎯 Targets:
• TP1: 2.45
• TP2: 2.60
• TP3: 2.65 (Weak High area)
❌ Stop Loss:
• Below 2.25 support zone or under recent CHoCH lows
⚠️ Note: Watch for a strong breakout above the handle structure with volume to confirm the pattern. Failure to hold the 2.25 zone would invalidate this bullish scenario.