{"id":561710,"date":"2023-11-21T11:50:38","date_gmt":"2023-11-21T11:50:38","guid":{"rendered":"https:\/\/wncen.com\/?p=561710"},"modified":"2024-06-11T08:00:49","modified_gmt":"2024-06-11T08:00:49","slug":"xrp-price-cup-handle-pattern","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-price-cup-handle-pattern\/","title":{"rendered":"XRP Price: Cup And Handle Pattern Hints At Short-Term 208% Surge"},"content":{"rendered":"

In a new technical analysis, crypto analyst Dark Defender has identified a bullish ‘Cup and Handle’ pattern on the XRP daily chart, signaling the potential for substantial gains. The pattern, which is characterized by a ‘cup’ resembling a rounding bottom and a ‘handle’ indicating a slight downward drift, suggests a continuation of an upward trend.<\/p>\n

Dark Defender notes<\/a>, “XRP formed a cup & handle pattern in the daily time frame. We set targets for $1.05 & $1.88 with the Elliott Waves, and now the Cup-Handle pattern is also blinking XRP to reach the targets.”<\/p>\n

Cup & Handle Pattern Hints At 208% Rally In The Short-Term<\/h2>\n

The cup formation, which began in July and extended through October, saw its peak around $1.05, a critical resistance level. The XRP price then dropped by approximately 52%, perfectly aligning with the classical setup. The correction from the top of the cup to the bottom should ideally be a maximum of 50%.<\/p>\n

Related Reading: This Prediction Reveals How Long It Will Take XRP Price To Cross $10<\/a><\/div>\n

The subsequent handle has formed a resistance zone between $0.75 and $0.6649, which is approximately a 20% retracement from the cup’s peak. Notably, the pattern suggests a bullish continuation, where the ‘cup’ represents a period of consolidation followed by a breakout, while the ‘handle’ forms a smaller pullback before the price continues to ascend.<\/p>\n

\"XRP
XRP price analysis, 1-day chart | Source: X @DefendDark<\/figcaption><\/figure>\n

Within the chart, Dark Defender showcases key support and resistance levels crucial for this pattern to remain valid. The handle part of the pattern has potential support at $0.5286, which Dark Defender has indicated should not be broken by a close under the primary support of $0.6044 for two consecutive days to maintain the bullish outlook.<\/p>\n

Currently, the chart indicates that XRP is trading above these support levels, with resistance looming overhead. The next significant resistance is noted within the handle formation, marked at $0.6649. A decisive break above this level could confirm the pattern’s predicted outcome and set XRP on its upward trajectory toward the mentioned price targets.<\/p>\n

Related Reading: XRP Price Correction Is Over, Targets Set By Top Crypto Analysts<\/a><\/div>\n

The analyst elaborates on the handle’s potential movements, stating, “Can the handle be extended towards $0.5286 Support? We still need to close under the primary support of $0.6044 for 2 days in a row. So the answer at the moment is No.” However, he also added, \u201cThe main structure is still in place, and XRP is expected to hit $1.05 & $1.88 in the short term.”<\/p>\n

XRP Price Faces Stiff Resistance<\/h2>\n

The XRP price is currently facing another crucial resistance when performing a Fibonacci retracement level analysis on the 1-day chart. Last Thursday, the XRP price fell below the 0.382 Fibonacci level at $0.6275 and has not been able to close above this key resistance since then on a daily basis.<\/p>\n

Moreover, the XRP price is sandwiched between the 20-day and 50-day Exponential Moving Average (EMA), between $0.6234 and $0.5919. For the bullish scenario to play out, the price needs to overcome the 20-day EMA as well as the 0.382 Fibonacci level. If this happens, Dark Defender’s bullish prediction could come a little closer.<\/p>\n

\"XRP
XRP hovers below the 0.382 Fib, 1-day chart | Source: XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In a new technical analysis, crypto analyst Dark Defender has identified a bullish ‘Cup and Handle’ pattern on the XRP daily chart, signaling the potential for substantial gains. The pattern, which is characterized by a ‘cup’ resembling a rounding bottom and a ‘handle’ indicating a slight downward drift, suggests a continuation of an upward trend. Dark Defender notes, “XRP formed a cup & handle pattern in the daily time frame. We set targets for $1.05 & $1.88 with the Elliott Waves, and now the Cup-Handle pattern is also blinking XRP to reach the targets.” Cup & Handle Pattern Hints At 208% Rally In The Short-Term The cup formation, which began in July and extended through October, saw its peak around $1.05, a critical resistance level. The XRP price then dropped by approximately 52%, perfectly aligning with the classical setup. The correction from the top of the cup to the bottom should ideally be a maximum of 50%. Related Reading: This Prediction Reveals How Long It Will Take XRP Price To Cross $10 The subsequent handle has formed a resistance zone between $0.75 and $0.6649, which is approximately a 20% retracement from the cup’s peak. Notably, the pattern suggests a bullish continuation, where the ‘cup’ represents a period of consolidation followed by a breakout, while the ‘handle’ forms a smaller pullback before the price continues to ascend. Within the chart, Dark Defender showcases key support and resistance levels crucial for this pattern to remain valid. The handle part of the pattern has potential support at $0.5286, which Dark Defender has indicated should not be broken by a close under the primary support of $0.6044 for two consecutive days to maintain the bullish outlook. Currently, the chart indicates that XRP is trading above these support levels, with resistance looming overhead. The next significant resistance is noted within the handle formation, marked at $0.6649. A decisive break above this level could confirm the pattern’s predicted outcome and set XRP on its upward trajectory toward the mentioned price targets. Related Reading: XRP Price Correction Is Over, Targets Set By Top Crypto Analysts The analyst elaborates on the handle’s potential movements, stating, “Can the handle be extended towards $0.5286 Support? We still need to close under the primary support of $0.6044 for 2 days in a row. So the answer at the moment is No.” However, he also added, \u201cThe main structure is still in place, and XRP is expected to hit $1.05 & $1.88 in the short term.” XRP Price Faces Stiff Resistance The XRP price is currently facing another crucial resistance when performing a Fibonacci retracement level analysis on the 1-day chart. Last Thursday, the XRP price fell below the 0.382 Fibonacci level at $0.6275 and has not been able to close above this key resistance since then on a daily basis. Moreover, the XRP price is sandwiched between the 20-day and 50-day Exponential Moving Average (EMA), between $0.6234 and $0.5919. For the bullish scenario to play out, the price needs to overcome the 20-day EMA as well as the 0.382 Fibonacci level. If this happens, Dark Defender’s bullish prediction could come a little closer. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":561713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[4531,90237,13172,16289,10972],"class_list":["post-561710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-xrp","tag-xrp-cup-and-handle-pattern","tag-xrp-price","tag-xrp-price-prediction","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Price: Cup & Handle Pattern Hints At Short-Term 208% Surge<\/title>\n<meta name=\"description\" content=\"Crypto analyst Dark Defender has identified a bullish 'Cup and Handle' pattern on the XRP daily chart, signaling potential for substantial gains.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price: Cup And Handle Pattern Hints At Short-Term 208% Surge","url":"http:\/\/wncen.com\/news\/ripple\/xrp-price-cup-handle-pattern\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/xrp-price-cup-handle-pattern\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1135927483.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1135927483.jpg?fit=2121%2C1414"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["xrp","xrp cup and handle pattern","xrp price","xrp price prediction","xrpusd"],"dateCreated":"2023-11-21T11:50:38Z","datePublished":"2023-11-21T11:50:38Z","dateModified":"2024-06-11T08:00:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price: Cup And Handle Pattern Hints At Short-Term 208% Surge\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-cup-handle-pattern\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-cup-handle-pattern\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1135927483.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1135927483.jpg?fit=2121%2C1414\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"xrp\",\"xrp cup and handle pattern\",\"xrp price\",\"xrp price prediction\",\"xrpusd\"],\"dateCreated\":\"2023-11-21T11:50:38Z\",\"datePublished\":\"2023-11-21T11:50:38Z\",\"dateModified\":\"2024-06-11T08:00:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1135927483.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561710"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=561710"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/561710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/561713"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=561710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=561710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=561710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}