Is it time to take off? XRP forms a cup and handle pattern on the way to $5.20!
The price of XRP has begun to attract attention again, with increasing technical indicators supporting the likelihood of a strong bullish breakout. The most prominent formation on the chart? The "cup and handle" pattern — one of the strongest continuation patterns in technical analysis.
🔍 What does this pattern mean?
The cup and handle pattern indicates a phase of correction followed by consolidation and preparation for an upcoming breakout. With XRP holding above previous resistance levels, the next price targets indicate $5.20 as a potential technical target.
📈 Supporting factors:
Increase in buying momentum.
Positive crossover of moving average indicators.
Improvement in overall market sentiment.
⚠️ Note: Markets remain prone to volatility, so it's important to closely monitor support and resistance levels and manage risks.
Do you think XRP will succeed in reaching this target soon? 💬
Share your opinion 👇
#XRP #CryptoAnalysis #CupAndHandle #Ripple #Altcoins #TechnicalAnalysis #XRPto5 #BullishPattern #BinanceSquare
