XRP’s Daring Dash to $5?

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Well, old chap, it seems XRP is getting its ducks in a row, technically speaking. A jolly good cup and handle formation is brewing, and if it plays out, we might just see this cryptocurrency make a beeline for the $5 mark 🚀. Today, XRP is on a tear, ripping through resistance levels like they’re made of tissue paper, with a daily gain of 7.35% and a price push to $3.26 💸.

But, you see, the real excitement lies in its long-term chart, which is beginning to resemble one of those frightfully bullish breakout patterns that technical analysis chaps are so fond of. The cup part of the formation started taking shape in late 2023 and persisted through the multi-month decline and recovery in 2024. The rounded bottom has now finished extending from the highs at about $3.30 to the lows at about $1.50 📉.

Now that the price has completely recovered to its prior highs, it’s possible that the accumulation phase is over, and the markup phase is about to begin 📈. The handle, old bean, is the crucial bit. Usually, this takes the form of a brief consolidation or pullback before the asset stages a breakout. But, of course, the handle itself is still forming, so we might see the current rally continue in a parabolic fashion or retreat a bit to create that last consolidation structure 🤔.

If the pattern continues to play out, the measured move target would position XRP close to the $5 mark, which would be a ripping good show, if I do say so myself 🎉. The pattern has also been supported by volume, which has been lighter during pullbacks and higher during rallies, so that’s a bit of a plus 👍.

Now, I know what you’re thinking, “But what about the RSI, old chap?” Well, it’s currently at 86, which is a bit high, but not necessarily a cause for concern 🙅‍♂️. After all, it’s not uncommon for the RSI to get a bit frothy in markets with strong trends. And if XRP settles around current levels without experiencing a significant breakdown, the handle might be short and shallow 🤞.

A confirmed breakout above $3.30 with consistent volume would be a cracking good technical signal that could push XRP closer to the eagerly anticipated $5 target 🚀. In short, XRP might be displaying one of the market’s clearest bullish continuation patterns, and if the handle properly forms and breaks, this asset may be headed for its highest levels since the bull run in 2017 📈.

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2025-07-17 17:29