XRP is showing active growth and may be in the process of forming a cup and handle pattern, which indicates potential further increases.
Current Market Situation of XRP
XRP recorded a daily gain of 7.35%, reaching a price of $3.26. The asset is passing through resistance levels, suggesting a potential shift to a new growth phase.
Cup and Handle Pattern and Its Significance
XRP's long-term chart is beginning to resemble one of the most recognized breakout patterns in technical analysis. The cup portion started forming in late 2023, continuing through a multi-month decline and recovery in 2024.
Growth Prospects for XRP
If the cup and handle pattern successfully completes, XRP could reach the $5 mark. A confirmed breakout above $3.30 with consistent volume would signal this.
Thus, XRP is demonstrating signs of technical strength, and its further movement will depend on the successful completion of the cup and handle pattern and the breach of key resistance levels.
