Daily News 19

Tag: Cup-and-handle pattern

  • XRP Price Prediction for September 9

    XRP Price Prediction for September 9

    XRP is trading at $1.44, up 2.3% on the day and 4.6% over the past week, as the token defends a key support zone between $1.30 and $1.40. The $1.30 level in particular stands out as a critical threshold to monitor.

    Near-Term Technical Setup

    With Bitcoin easing slightly and its market dominance pulling back, XRP appears positioned to trade sideways in the near term rather than tracking Bitcoin lower. This divergence is a common pattern when Bitcoin loses momentum; certain altcoins often hold their ground instead of declining in tandem.

    On the daily chart, strong support is building around $1.34, while resistance sits in the $1.47 to $1.52 range.

    Analyst Patterns and Price Targets

    Other chart watchers are highlighting a similar setup. Analysts have flagged a bull flag pattern, noting that an hourly close above $1.40 could trigger a move toward $1.46, with a potential extension to $1.80 if support at $1.38–$1.39 holds.

    XRP’s recent trading range between $1.39 and $1.43 follows a sharp recovery from levels near $1.00 earlier this year. Some traders point to a cup-and-handle pattern forming on the weekly chart as an additional bullish signal. One expert outlined a step-by-step path targeting $1.39 to $1.42 to $1.35, followed by a move from $1.35 up through $1.48 to $2.20, while cautioning that XRP is not likely to drop significantly in the near term.

    Separating Signal from Speculation

    Not every claim circulating carries the same analytical weight. Some posts on X argue “$XRP prices in the $1 to $10 range are just a ‘stalling tactic’ before a move into the thousands of dollars,” a claim with no supporting data or timeline behind it.

    Bottom Line

    For now, XRP’s actual price action points to a contained setup: hold above $1.30 to $1.34 and the token likely continues consolidating or grinding higher toward resistance near $1.47 to $1.52. A confirmed break above $1.40 to $1.48 on strong volume would be the more reliable signal to watch, rather than the larger long-term predictions currently circulating.

  • XRP Price Target Following Cup-and-Handle Retest

    XRP Price Target Following Cup-and-Handle Retest

    XRP Price Analysis: Cup-and-Handle Pattern Suggests Potential Breakout Toward $3.63 and Beyond

    XRP has entered a critical technical phase following its August rally, with the weekly chart now signaling a possible cup-and-handle breakout formation. The current price structure indicates the recent decline may represent a retest of this breakout level. If XRP maintains key support and eventually clears the handle resistance, technical projections point to several upside targets, including $3.6330, $6.8899, and $13.5687.

    As of early September, XRP trades around $1.39, reflecting a gain of approximately 3.5% over the past week. The broader structure originates from XRP’s decline from its July 2025 cycle high near $3.65 to a low of roughly $0.99 in mid-August 2026, a drawdown of nearly 73%. That August low sparked a sharp recovery, with XRP surging more than 60% in just a few days to reach an interim high near $1.70.

    Catalysts Behind the August Rebound

    The rebound coincided with several positive developments: expectations of increased liquidity injections, renewed optimism surrounding the CLARITY Act, whale accumulation activity, and continued inflows into spot XRP exchange-traded funds. However, the rally proved short-lived.

    August Flash Crash Forms the Handle

    On August 22, XRP experienced a flash crash that erased more than 37% of its value intraday. The move triggered approximately $500 million in leveraged long liquidations before the token found stability. Since then, XRP has consolidated throughout the first week of September within a tightening range between $1.30 and $1.50.

    This consolidation range gives the weekly chart a structure that could evolve into the handle portion of a larger cup-and-handle formation. Within this framework, XRP faces resistance around $1.45 to $1.50, while buyers have established stronger support near $1.35, followed by the $1.30 to $1.31 zone. As long as XRP defends these levels, the bullish structure remains valid.

    Weekly Chart Also Shows Descending Wedge

    On the weekly timeframe, XRP’s recent price action also forms a descending wedge, with two converging trendlines containing the August rally and subsequent pullback. The current consolidation near $1.30 to $1.40 could represent the handle before XRP attempts to reclaim the resistance shelf above it.

    Fibonacci Extensions Target $3.63, $6.89, and $13.57

    Fibonacci extensions drawn from the prior price swing provide a series of potential upside objectives. The first target sits at $2.4062, followed by $3.6330, $6.8899, and finally $13.5687. The $3.6330 level carries particular significance because it aligns with XRP’s July 2025 cycle high near $3.65.

    This makes the $3.63 area a crucial test if XRP completes the cup-and-handle breakout. A decisive move beyond that region could then shift market focus toward the higher $6.8899 and $13.5687 Fibonacci extensions. Reaching the $13.5687 target from the current $1.39 price would require a rally of more than 800%, demanding substantially stronger momentum than the initial breakout.

    Key Support at $1.35 Must Hold

    Several factors continue to support the bullish interpretation. First, XRP has remained above its 20-week exponential moving average (EMA), a level it failed to reclaim in May before dropping toward $0.98. Additionally, a potential golden cross — where the 50-week moving average crosses above the 200-week moving average — could develop, adding weight to the longer-term bullish case.

    However, momentum has already cooled. The weekly Relative Strength Index (RSI) has fallen to around 58 after previously reaching overbought territory, while trading volume has declined since early September. These conditions indicate XRP needs renewed buying pressure to push through the $1.45 to $1.50 resistance zone and confirm the handle breakout.

    For now, $1.35 remains the pivotal level for the bullish setup. A daily and weekly close below it would weaken the structure, while a break under $1.30 could expose the next support around $1.23. Such a move would place the cup-and-handle thesis under serious pressure before XRP could reach the $2.4062 or $3.6330 targets.