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XRP has formed a bullish pattern called “Double Coffee Cup”, which signals significant upward potential.
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The break-out from a multiyear triangle coincides with improved regulatory clarity and increased market optimism.
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Overbought conditions indicate a possible short-term pullback.
XRP’s weekly chart displays a notable formation. Dark Defender, a cryptocurrency analyst, notes that XRP formed a “Double Coffee Cup”, a structure which is often associated with potential bullish trends.
Source : X
This double-rounded pattern, marked on the chart by blue and orange lines, indicates that a long-term consolidation phase is nearing its end. XRP has broken above the Ichimoku Cloud. This is a bullish sign.
Dark Defender also highlights new support levels at $1.03 and $.95. These zones are critical areas where buyers may show interest during pullbacks. The analysis shows that XRP may reach $1.88. $3.09 and $5.85. Fibonacci extensions levels support these projections.
The 161.8% extension is aligned with the $1.88 level, while the 261.8% extends to the $5.85 target, signaling a potential upside if momentum continues.
Davie Satoshi is another analyst who noted that XRP had finally broken free of its multi-year triangle.
This breakout coincides with increasing regulatory clarity in the U.S., and could be a start of a new crypto bull-cycle. These factors indicate that XRP’s price may increase, and some predict its potential to compete with Ethereum and Bitcoin on the market.
XRP has experienced a volatile price performance in recent months despite these promising trends. XRP is currently priced at $1.09 and has seen a drop of 4.80% from the previous day.
Its market cap is $62,08 billion, making it the sixth largest crypto. Intraday charts show that XRP hit a high of $1.1460 before retracing steeply. This indicates bearish pressure amid increased trading activity.
Read Also: XRP Jumps 158 % to $1.26 and Reaches 3-Year-High Linked to Trump’s Crypto Agenda
According to technical indicators, MACD shows a solid upward crossover with its signal lines in positive territory. This supports an upward momentum.
The RSI, currently at 81.80 indicates that XRP may be overbought and could cause a short-term correction.
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