Famous Analyst "XRP, $750 Target is an Illusion"...Fibonacci Ceiling Revealed

▲ XRP/AI-generated image

An analysis suggests that the $750 to $1,000 price target for XRP, which was presented based on its long-term cup-and-handle pattern, lacks technical basis. The chart analyst drew a line, stating that if Fibonacci extension ratios are precisely applied, a realistic long-term price target would be in the range of $8 to $27.

According to The Crypto Basic, a virtual asset specialized media outlet, on September 26 (local time), chart analyst ChartNerd analyzed the long-term chart structure and stated that reaching $750 or $1,000 is not supported by Fibonacci ratios. ChartNerd pointed out, "The long-term formation pattern does not support the $750 to $1,000 XRP target through Fibonacci analysis." Instead, ChartNerd presented approximate upward extension targets of $8.47, $13.70, and $27.31. These correspond to the 1.272, 1.414, and 1.618 Fibonacci extensions, respectively.

This chart displays an approximately 8.5-year-long cup-and-handle pattern, starting from XRP's price peak in 2018 and extending to the current market structure. The explanation is that the rounded cup form has already been completed, and the downtrend that followed the 2025 peak is currently forming the handle section. Currently, XRP is trading around $1.47, continuing its handle movement above two key Fibonacci support levels. The 0.5 retracement support level is approximately $0.894, and the 0.618 support level is at $0.642.

ChartNerd also pointed out that the possibility of retesting the Gaussian Channel, which has been repeatedly observed at past cycle lows and within the cup pattern, should be considered. The analysis is that there are clearly distinct phases: Phase 1, which involves completing the handle section and solidifying a long-term bottom, and Phase 2, which involves an upward breakout of the long-term pattern. However, he added that the presented figures are technical projections, not confirmed price outcomes or deadlines, and do not necessarily mean that the price must first drop to $0.89 or $0.64.

Unrealistic high price expectations are being set aside, and chart verification based on mathematical ratios is being conducted. Market attention is focused on whether XRP, currently navigating the handle section of an 8.5-year condensed cup-and-handle pattern, can firmly hold its support levels and establish a long-term breakout foundation towards the $27 mark.

[Article Summary]

-ChartNerd ruled out XRP's $750-$1,000 price target based on Fibonacci analysis.

-Realistic upward targets presented based on the 8.5-year cup-and-handle structure are $8.47, $13.70, and $27.31.

-Currently at $1.47, XRP is forming a handle section above the $0.894 and $0.642 support levels.

*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.*