Analyst Xaif has sparked excitement within the XRP community with a price forecast of $5.21, based on a chart demonstrating a textbook cup and handle pattern.
Current Market Situation for XRP
As of the report, XRP is trading at approximately $3.24, with an intraday range of $3.23 to $3.34. Its market capitalization stands near $192 billion. XRP holds a strong position among cryptocurrencies, yet remains significantly below its projected target.
Technical Chart Analysis
The current chart shows a clearly defined multi-month cup formation followed by a consolidation pattern. This structure is known as a bullish continuation model, and a breakout to the upside on strong volume could see XRP move into the $4 to $6 range.
Future Expectations and Success
Xaif's forecast aligns with sentiments from independent analysts, with some considering a potential move to $8–$11 if market momentum persists. Moreover, rising open interest in XRP futures indicates that traders are positioning for a possible breakout.
While ambitious, achieving the $5.21 target will depend on market sentiment and buying pressure. Traders are closely monitoring resistance levels and trading volumes.
