XRP price could regain its recent peaks if the emerging cup and handle pattern on the 30-minute chart plays out as anticipated.
Market analyst Ali Martinez (@ali_charts) maintains a bullish outlook on XRP despite its current consolidation phase. XRP’s price action has been volatile throughout February, with a recent recovery attempt stalling at $2.83 on February 15, 2025.
XRP’s Cup and Handle Formation
The retracement from February’s highs formed what Martinez identifies as the "cup" segment of a bullish cup and handle pattern. Notably, XRP rebounded on February 14 following two key developments:
- The SEC’s acknowledgment of NYSE Arca’s filing for the Grayscale XRP ETF.
- The SEC’s recognition of the 21Shares XRP ETF application.
This rebound completed the "cup" portion, with XRP surging from $2.43 to $2.83. The subsequent pullback is now forming the "handle," suggesting a potential consolidation phase before another upward move.
Price Projection: $3.35 and Beyond
Martinez’s analysis indicates that a breakout from the handle could propel XRP toward $3.35**—a 25% increase from current levels. Analyst CryptoWZRD previously noted that breaching this level might push XRP to **$4, setting a new all-time high.
Key Factors Influencing XRP’s Trajectory
- ETF Developments: Regulatory progress on XRP-based ETFs could fuel bullish momentum.
- Market Sentiment: Broader crypto market trends will impact XRP’s price action.
- Technical Patterns: The cup and handle breakout remains critical for short-term gains.
👉 Explore more on XRP’s potential breakout
FAQs
Q: What confirms a valid cup and handle pattern?
A: The pattern requires a smooth "U"-shaped cup followed by a smaller downward "handle" before breakout.
Q: How long does this pattern typically take to complete?
A: On a 30-minute chart, it may resolve within days, but longer timeframes (daily/weekly) extend the duration.
Q: What’s the risk if the handle breaks downward?
A: A failed pattern could lead to further declines, possibly retesting support at $2.40–$2.50.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.
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