- XRP forms powerful yearly pattern signaling a potential surge toward major targets.
- Analyst highlights key supports as XRP approaches critical technical breakout zone.
- Long-term Cup and Handle pattern positions XRP for upward momentum.
XRP attracted renewed market attention after a fresh technical update highlighted a major pattern forming on its yearly chart. Traders responded as the development hinted at a potential shift in long-term momentum.
According to Dark Defender, XRP has now formed a complete Cup and Handle structure on the yearly candles. The analyst noted that the pattern is positioned for a further surge once buying strength increases.
Support levels were outlined at $1.88 and $2.10, which act as the structural base of the formation. The chart also displayed a clear, rounded cup followed by a smaller handle, indicating that the long-term setup has matured.
Consequently, the neckline sits near the 2.00 region, a level that continues to attract significant attention. Movement around this zone often signals whether an asset is preparing for a breakout or continuing its consolidation.
Moreover, the Cup Depth featured prominently and remains central to the technical projections. This measurement is commonly used to generate long-range targets when evaluating Cup and Handle structures.
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Expanded Analysis of the Bullish Targets and Technical Implications
The analysis highlighted three major bullish targets built from extended Fibonacci calculations, offering traders a structured outlook. These targets include $5.85 as the initial zone, $18.22 as a mid-range objective, and $36.76 as the upper projection.
Additionally, each target reflects a different stage of potential expansion based on the depth of the cup. These measured levels provide traders with clearly defined points to watch if XRP begins to strengthen above the neckline.
Furthermore, the combination of support levels and the neckline creates a focused framework that guides long-term evaluations. These elements offer direction for traders tracking momentum on larger timeframes.
Growing discussions within the XRP community reflect the increased interest generated by this pattern. Traders continue monitoring the yearly chart to assess whether market conditions will support movement toward the identified targets.
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