๐ XRPโs Technical Brew: Cup & Saucer Pattern Signals More Gains Ahead!
XRP rebounded to $3.6 this year before slowing again. This slowing suggests the rise may finish. Creating a Cup and Saucer Pattern offers a distinct narrative. Since this pattern has yet to be completed, the XRP price surge may have entered a pause and will continue to grow.
Crypto analyst Cryptinsightuk posted a Cup and Saucer diagram of the XRP pricing trend on X (previously Twitter). After double rejection from $3.65, the altcoin's surge is facing serious barrier. Double rejection is alarming, but the Cup and Saucer pattern predicts a protracted bullish trend.
Despite rejections, Cryptoinsightuk says XRP has continued to see higher lows. No matter the obstacle, this is optimistic for the price. According to the chart, the pattern has yet to finish and signal a price fall.
The expert expects XRP to grow from here. Being above range highs is one reason this is bullish. Therefore, Cryptoinsightuk believes it is more likely a continuation pattern leading to a breakthrough than a price collapse.
Defying $3.65 resistance would be the next goal if the Cup and Saucer pattern holds up. If this barrier falls, XRP might rebound to new highs over $3.8.
The charts and other market events are all pointing up for XRP. The Bitwise 10 Crypto Index Fund, which holds XRP, was approved by the SEC earlier this week. However, the SEC delayed the ruling and is reviewing it.
