XRP has broken out of a classic cup and handle pattern, suggesting a potential continuation of the bullish trend for the asset.
Significance of the Cup & Handle Pattern for XRP
The cup and handle pattern is one of the most reliable bullish patterns in technical analysis. It indicates that the asset has completed a recovery phase (the 'cup') and has cleared a minor consolidation (the 'handle'), leading to a breakout.
Key Signals for Price Uptrend
Key bullish signals include:
* Increased volume during the breakout * Strong price action with minimal pullbacks * Holding above former resistance, now acting as support.
Traders Monitoring Next Moves
With the pattern now confirmed, traders are closely monitoring:
* Immediate resistance zones between $0.65–$0.75 * Volume levels to confirm trend strength * Potential retest of the breakout area, which could offer a second entry point.
If XRP maintains momentum, the breakout could mark the beginning of a multi-week rally. The technical picture remains strong, and the broader market sentiment appears to support bullish continuation.
