Analyst Says XRP Is Inevitable, Confirms Cup and Handle Breakout With Target – Times Tabloid

0
121

Dark Defender (@DefendDark), one of the top analysts in the crypto market, recently shared a chart confirming his prediction and suggesting that a massive XRP rally is on the way. He shared a daily XRP chart showing a cup and handle pattern and highlighting XRP’s recent break above the handle.

Source: Dark Defender/X

Cup and Handle Pattern

The cup and handle is a bullish technical pattern identified in the price movement of an asset. It is recognized for its resemblance to a cup with a handle. The cup is formed by a steady decline in price followed by a rebound, creating a U-shaped pattern. The handle is a brief, downward price movement after the rebound that does not reach the bottom of the cup. A breakout above the handle, as XRP has done, is seen as a bullish signal, indicating a potential rise in price.

Related articles

Now that XRP has successfully broken above the cup’s upper trendline, the community is eager for the massive rally that often precedes this technical indicator.

Price Targets for the Cup and Handle Pattern

Dark Defender showed this technical formation under a week ago. The analyst showed that XRP is currently in Wave 3 of an Elliott Wave pattern, suggesting a massive rally when combined with the cup and handle pattern.

Based on these indicators, the analyst set $1.33 as the target for XRP. Many other analysts are more bullish on XRP’s future, with predictions as high as $50.

Will XRP Reach 1.33?

The Cup and handle pattern is a significant indicator when predicting asset prices. The appearance of the cup and handle pattern and the Elliott Wave pattern hints at something massive. $1.33 is just the beginning, as these indicators could send XRP to new heights.

In addition to technical analysis, there are other important factors to consider when making investment decisions. A major one is the fundamental analysis of the asset. This involves analyzing the underlying fundamentals of an asset, such as its financial performance, competitive advantage, and management team. XRP has strong fundamentals and an active community ready to support its crypto project.

The overall health of the economy and the cryptocurrency market can also significantly impact the price of XRP. News events and regulatory announcements can also affect XRP. The next few weeks could be intriguing as XRP begins its predicted climb that multiple analysts have predicted.

Follow us on Twitter, Facebook, Telegram, and Google News

Credit: Source link

Tags: AnalystBreakoutconfirmsCupHandleInevitableTabloidTargetTimesXRP

 

Post Disclaimer

The information provided in our posts or blogs are for educational and informative purposes only. We do not guarantee the accuracy, completeness or suitability of the information. We do not provide financial or investment advice. Readers should always seek professional advice before making any financial or investment decisions based on the information provided in our content. We will not be held responsible for any losses, damages or consequences that may arise from relying on the information provided in our content.

LEAVE A REPLY

Please enter your comment!
Please enter your name here