XRP, goes to $12...Cup and Handle explosion signal, double-digit rally expectation ↑

▲ XRP/ChatGPT generated image

XRP has formed a cup and handle pattern on its long-term chart, raising the possibility of entering a double-digit price range. Analyst Celal Kucuker analyzed that XRP is forming a large bullish structure on the weekly chart and could rise to $12.10, which is the 1.618 Fibonacci extension zone.

TheCryptoBasic reported on the 13th that Kucuker described the current XRP chart as the “best XRP chart” via X (formerly Twitter). His analysis is based on XRP forming a large cup and handle pattern on the weekly chart after a breakout rally in late 2024. This structure, which follows a rounded bottom with a downward sloping corrective period, is generally interpreted as a bullish continuation pattern.

According to the article, XRP fell by approximately 70% from its high of $3.65 to $1.11 before rebounding. It then tested the $1.50 range several times but met resistance. Kucuker believes that if the upward momentum is maintained, XRP could enter a stronger breakout phase in the coming months.

Key resistance levels were presented as $1.74 and $3.65. $1.74 is the first major resistance level coinciding with the Fibonacci 0.618 retracement zone, and $3.65 was mentioned as the previous cycle high and an important breakout point. Kucuker analyzed that if XRP overcomes this strong resistance, the door to double-digit price levels could open.

The long-term target price is $12.10. This price coincides with the 1.618 Fibonacci extension zone and represents over 225% upside potential from the current price range. TheCryptoBasic reported that XRP has recently been trading around $1.45, having risen 1.87% in the last 7 days and 9.83% in the last month.

Other analysts also mentioned the possibility of an XRP breakout. Trader Michael XBT predicted that XRP's parabolic rise could begin soon, with a new all-time high possible this year. He presented the narrowing of XRP's price structure as a signal of an impending breakout.

Michael XBT believes that XRP could first head towards the $2 mark and then move to higher price levels later in the cycle. He analyzed that the $1.80 to $2 range is a key resistance zone, and breaking this range could lead to $3 and a new price discovery phase. He also claimed that XRP could reach a new all-time high above $4 this year.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*