XRP Chart Forms ‘Hot Cup’ Pattern: Major Move Incoming?
XRP is approaching a critical inflection point as price action converges with key trend lines, Fibonacci levels, and a forming cup pattern, according to chart analyst DefendDark.
The setup suggests a potential breakout as tension builds within a compressed technical structure.
The Exponential Moving Averages (EMAs) are tightly aligned, and price is squeezed against a descending resistance trend line.
Additionally, the chart highlights the interaction with the Ichimoku Cloud zone, further emphasizing the narrowing range. Dark Defender notes that the “cup is hot,” signaling that a strong directional move could be imminent.
Key Levels to Watch
- Support: $2.0706
- Short-Term Targets: $2.22 and $3.61
The price is currently hovering near the $2.07 support, with significant upside potential if the trend breaks to the bullish side. The chart indicates a likely “cup and handle” pattern formation, with a possible breakout aligning with the cup’s surface and a Fibonacci retracement level.
Decision Point Approaching
The alignment of trend lines, Ichimoku signals, and EMAs has created a high-stakes technical tension zone. As @DefendDark notes, “Get ready for the decision”—a breakout could ignite rapid price movement toward the projected targets.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
